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VOIP PHONE IDENTIFICATION

We have been asked some questions about the identification of VOIP numbers. Some of our clients are concerned about VOIP numbers being treated like cell phones because consumers may incur charges for calls to this numbers. We have worked with several knowledgeable individuals to stay on top of cell phone number assignment and some of the related industry issues. One of the people I have a great deal of respect for is John Schaeffer, the CIO of Interactive Data, the company that has provided many of our clients with their cell phone data. When I asked for his opinion on VOIP phones numbers, this is what John told me.

“We have received numerous requests over the years to provide VOIP identification much like the current cell suppression offered through the Quantrax platform. From a telephony perspective, a VOIP line is considered a landline. I’ve been trying to deliver a VOIP […]

 

Should Collection Managers Be Worried? Yes, Just Like Jeopardy Contestants Battling IBM’s Watson

In February 2011, in a much-hyped, nationally televised show, IBM’s Watson supercomputer comprehensively defeated two human champions in the intellectual game of Jeopardy! Quantrax Corporation says they were not surprised, having created technology that is smarter than the best collection experts!
Everyone is claiming that they had something to do with Watson, IBM’s creation that took on and beat two of the very best Jeopardy champions. Novell, Apache Software Foundation, Java, Prolog, C, C++ and IBM’s clever software – they were all a part of a historical experiment in testing machine intelligence against human experts. And suddenly, everyone is thinking about the practical application of this powerful technology.
Quantrax Corporation watched with interest as the contest evolved. The key hardware that IBM utilized was the midrange Power 750 server. This happens to be the same family of computers that Quantrax uses for its artificial intelligence-based collection platform called RMEx (formerly Intelec). […]

 
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    Listen to Win! Are you a listener or just someone waiting to talk. By Phillip W Duff

Listen to Win! Are you a listener or just someone waiting to talk. By Phillip W Duff

Are you a listener or are you just waiting for your turn to talk? If you answered “I am a listener” are you sure?  Most people spend most of the time while someone else is talking creating a counter argument in their mind. Instead of trying to listen and understand the message that is trying to be conveyed by the other person.

Most people are not listeners but the most successful people are very good at listening let me give you an example: I have a friend named Jeff Mains who is a great salesman. When I first met Jeff I didn’t understand how he was so able to sell as he’s not like most salesmen, he’s quite a good listener and doesn’t really talk a lot. In fact when talking with him sometimes I wonder if he was listening at all because after I finished talking there would be […]

 
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    An interview with the man that invented credit scoring, the second placement and automation, Ruvin Schwartz by Phillip W. Duff

An interview with the man that invented credit scoring, the second placement and automation, Ruvin Schwartz by Phillip W. Duff

Here is an interview with an icon in the industry. He assisted in inventing things like credit scoring, Co Lo’s, focusing on the second placement and was the first to automate many processes when computers arrived in the industry. Ruvin Schwartz was gracious to let me enter his home in FL and learn how he helped to shape the industry in the 60’s and 70’s and how he is still in business in the 2000’s.

He began, “I returned from the service in 1954, got married one week after I came back so had to get a job somewhere. My first collection job was at Bond Clothing Stores (in NY). I started out as a clerk typist, then became assistant credit manager and was eventually the top credit and collection manager in all of their stores.

After 6 years Ruvin asked for an increase in salary and stated, “They offered me 10% of what I was earning ($150 weekly) and I […]

 
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    Is it the right time for collection operations to rethink their business model?

Is it the right time for collection operations to rethink their business model?

It was after a collection conference workshop on employee compensation that we were motivated to ask ourselves some interesting questions about the way collection companies are managed and operated today. As we pull ourselves out from a long, difficult period, the subject is probably more relevant. We believe that it would fair to describe the average owner or

collection manager as conservative and conventional. For most, although everything around them is changing rapidly, the basic business process has not changed in many years. Although some radical thinking does exist, it is often the exception. That is not a weakness – change is often difficult and costly.This discussion is intended to provoke dialogue and questions about different business models in the collection industry. The thoughts presented are based on many years of collection experience as well as a unique opportunity we have had to introduce radical thinking to the industry.

Compensation

Let us start […]

 
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    Why QUANTRAX has the best compliance software in the collection industry!

Why QUANTRAX has the best compliance software in the collection industry!

Security and compliance – These are arguably the two most important challenges facing the US debt collection industry. With a suite of technology creations that include artificial intelligence-based collection software and a truly integrated dialer, Quantrax has strategically set its sights on software that offers systemic solutions to all of today’s compliance challenges.

Are we winning? You can be the judge. This document summarizes the security and compliance features of the system. We invite the industry to share and endorse our commitment to making this one of the best technology-based industries. The battle to be compliant has to be won with actions and not words. We at Quantrax are leading that fight.

SECURITY FEATURES

Security features deal with access to features and data. Clients are aware that collection companies share resources across multiple projects. Some larger clients will insist that only designated people work their accounts. Access to data must also be […]

 

A Checklist for Evaluating Collection Software

While the design and objectives of every system are different, Quantrax Corporation believes that certain functionality in collection systems will make an operation more effective and productive. Collection systems do not place sufficient importance on the efficiency of clerical operations and collector productivity, and the result has been the inability to lower the costs of operation beyond certain accepted levels. In today’s collection environment where fees have dropped to record lows, lowering the costs of operation is the only path to improving profitability. In addition, most software vendors continue to enhance their products, as opposed to re-engineering or rewriting their systems. This is not a favorable choice if one expects to comprehensively address the limitations of existing products, exploit the advances in technology and accommodate changes in the industry. The main reason that most collection software vendors are unwilling to rewrite their products is the significant cost involved in such an […]