Debt Collection

How Has Debtor Management Evolved Over Time?

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This article discusses the evolution of debt collection. In the beginning, collections methods were rough and oriented solely to the pursue of payments.  With time and practice, collectors came to realize that being aggressive didn’t help them to reach their goals.   Little by little, they found that the key to positive results was understanding debtors’ […]

Professional Collections

The Professionalization of Debt Collection

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Over the last few years, the concept of professional collections services has been used to refer to a series of good practices in the industry.   This concept is understood in different ways, like:  Contact centers’ ability to map out self-regulating strategies where ethics and professionalism are the cornerstones of all collections activities.  A set of […]

Improve Your Collections Technique

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To improve the technique of your collections department, you must first understand what needs to be changed.  There are different factors you must take into account to identify the processes where a strategy is required to achieve higher recovery rates. Some of these factors are: Key performance indicators Customer management Dedicated teams In-house methodologies Existing […]

Professional Collections

Collections for Clients in the Early Stages of Delinquency

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Accounts with less than 120 days past due are classified into the early stages of delinquency. In these cases, the debt collection strategy needs to be well-thought-out and immediate, right from the first day that balance is outstanding, in order to increase the likelihood of collecting payment. Apart from using appropriate tools and learning about […]

ACD system

Bulk SMS and Voice Broadcasting in Debt Collection Strategies

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Text and voice messages are tools that prove ideal for collections departments because they allow to interact with customers directly and much more economically.  Technology helps to reach audiences in effective ways and branch out into new communication strategies. Therefore, it is a profitable investment for accounts receivable management firms, contact centers, and any other […]

Debt Collection

Why Is the Collections Department Important to Companies?

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Debt collection and debt recovery are activities that require well-thought-out processes in order to achieve successful results and encourage the liquidity and solvency of businesses.  Whether companies run an in-house department to collect their receivables or they outsource this task to a third party, such as an agency, they must develop a custom collection strategy […]