ARM Industry Opportunities, Challenges and Technology Solutions
Collection Agency Business Strategy and Technology Survey
BillingTree with Inside Arm conducted a survey earlier this year from our newsletter subscribers of collection agency operations professionals.
In this Benchmark Survey Report, we first examine targeted industry segments and related growth trends according to the size of the agency. Secondly, we explore agencies’ specific strategies to achieving growth within these segments and to overcoming the challenges they cited as the most threatening to achieving those goals. Finally, we examine agency attitudes toward payment technology and automation, and discuss how automation poses a solution to the dual challenge of driving operational efficiency and innovation while protecting the organization from compliance risk.
Sample of Key findings:
- Top Concerns for Agencies (scoring 8 out of 10) include Increased Operating Expenses, CFPB Regulation/Supervision & Potential Lawsuits/Litigation
- Leading Growth Sectors are Healthcare (51%), Card/Bank Debt (37%) & Student Loans (28%)
- Projected Growth & Profitability Top 3 areas of Importance are Client Expansion (8.4), New Technology Enhancing Collections (8.1) & Cost Reduction Strategies (8.0)
Join us for a free webinar replay on the results of the survey.
This webinar replay not only explores data from the survey, but analysis on what is driving certain trends in the ARM industry in a shifting environment.
Webinar replay available immediately.
Request Replay Here: