Kaulkin Ginsberg and Commercial Collection Agencies of America Released its Member Benchmark Operating Metrics Survey Report

GERMANTOWN, Md. -- Understanding business performance can be challenging for owners and operators due to the closely held nature of information. Far too often have we seen business owners struggle to assess opportunities for improvement within their business due to a lack of information, which can negatively impact long-term business performance. As a result, Kaulkin Ginsberg Company (Kaulkin Ginsberg) teamed up with Commercial Collection Agencies of America (CCA of A) to develop a two-year operating metrics performance trend. 

This Member Benchmark Operating Metrics Survey Report (Benchmark Survey) covered a great deal of information on operating statistics and best-in-class business practices between 2016 and 2017. According to Annette M. Waggoner, the Executive Director of CCA of A, “The Board believes that it’s important for business owners to establish a basis for comparison on operations since this provides a tremendous benchmark on how individuals can improve operations within their respective businesses, whether that be through optimizing the allocation of supervisors to collectors, investing in compliance resources and certifications, or entering into a new market vertical.” 

Specifically, the Benchmark Survey showed that compliance was a point of consideration for CCA of A participants. According to Michael Thomas, Vice President of Kaulkin Ginsberg, “between 2016 and 2017, the total compliance software and labor expenses increased by roughly 86% and 29%, respectively, year-over-year.” Annette noted that compliance audits have become more prevalent and will continue to be in future years. As service providers, agencies use these types of audits to ensure that financial and technology internal controls are compliant and capable of serving the needs of client businesses. The resulting attestation report, which includes an auditor’s opinion, is used for the purpose of complying with laws and regulations, governance requirements for client’s financial statement audits, and due diligence reviews. Going forward, Kaulkin Ginsberg and CCA of A believe that investments in compliance functions will continue to grow in importance and expense allocation.