When it comes to consumer lending, today’s brand owners have no shortage of priorities to consider. Protecting a business’s reputation in a social media-driven marketplace can be a fierce dynamic, particularly in accounts receivable management (ARM). And as many companies continue to experience firsthand, it is often easier said than done. One top of mind [...]
These days, consumers face all sorts of challenges when it comes to managing their money. And debt – be it a mortgage, car payment, student loan, or credit card – becomes a part of their financial life for years. Given the myriad forms of debt and what might be years of consumer touch points, businesses [...]
Like most things, debt comes in many different forms, shapes, and sizes. For example, a college degree is often an investment with value that accrues over time, since it sets the student borrower on a lifelong course toward better jobs and better income. Then there are other debts – like auto loans – that may [...]
Helping credit customers become more financially literate about credit and debt issues can be difficult, especially when delinquency and collections come into play. But, these difficulties certainly are not due to a lack of resources. Consumers can turn almost anywhere for instant financial information. And, despite all the available information, the answers aren’t always clear [...]
Contact center professionals are often the tip of the spear when it comes to safeguarding a company’s reputation. They’re literally and figuratively where ethical business practices, compliance, and customer service intersect with results and business performance. Each interaction presents an opportunity or risk that can impact revenue recovery and customer relationships. Debt recovery professionals, in [...]
Choosing and implementing the right tools with so many competing technology options on the market is a challenge. And don’t forget all the internal decisions that need to be made about budget, capabilities, security, solution implementation, and balancing on-premises capacity with cloud solutions. Of course there are tasks to consider also, like standardizing data and [...]
We see it time and again in the world of debt collection: Workforce structure – the subject of our first blog post – is just as important as managing processes and procedures. And what’s more, for every obvious question, such as “What’s the best time to make calls?”, deeper questions follow. For example, “Which reports [...]
There’s just no way around it. Chasing delinquent accounts is expensive. In addition to labor, overhead, and infrastructure there are hidden costs. Before you realize it, inefficiencies and wasteful practices are producing administrative delays, unpredictable cash flow, an ineffective staff, and low morale. But there’s good news! With a little investigation, organizations can spot the [...]
If you’ve been reading our recent blog posts, then you probably already know about the many benefits that come with implementing an omnichannel collections strategy. But what you might not know is that designing and implementing an omnichannel program requires a road map to safeguard brand reputation and minimize compliance risk. Many organizations struggle with [...]
It’s the question almost every business asks. What’s the most effective way to reach customers in a competitive, technology-driven environment? People today are on the go, accessing information at all times through web, email, text, phone, and other pathways. That means reaching customers is all about understanding how they communicate and access information in an [...]