Collection Technology is not an Expense, it is an Investment
Talk to a few collection agency owners.  How do they measure success? Usually it is based on the number of collectors they have. How about revenue per collector? That is a metric that is hardly ever discussed. Why? What about looking at the advantages of different collection technology? What is the question that is first asked?   How much?
We recently received an inquiry about our software. Surprisingly, the question was “Is it feasible or cost effective to make a change?” Today, we find ourselves in at the center of major changes that are being forced on the industry.  Issues and concepts such as compliance, cell phones, economic conditions, lawsuits, privacy, security, analytics and progressive technology have created the conditions for the “perfect storm” in the industry. This is a defining time for the collection industry, a period during which technology must […]