Determining Caller Identity in the ARM Collection Process

One of the greatest problems in the ARM collection industry these days is faced by those who have the challenge of making the contact calls to chase down people with outstanding accounts. Unfortunately, this difficult job is being made even more awkward by the fact that many consumers are now finding it difficult to accept the identity of anyone contacting them by telephone, including debt management companies. This means that a difficult conversation about finances becomes automatically even more awkward as staff members struggle to confirm their identity to debtors.

What Is Causing the Problem?

Although contacting debtors with outstanding accounts is nothing new, the difficulties surrounding the proof of identity are a new addition to the process. The problem appears to have arisen because of scammers who try to elicit personal and financial details from consumers. The highly publicized advice in the media of late has been to distrust anyone contacting you to discuss financial matters, and, therefore, it is hardly surprising that more people are questioning debt collection staff members who call them to ask for payment.

Uncomfortable Collection Calls

No collection call is a comfortable experience anyway. However, in today’s society, it has become even more challenging and awkward. Debt collection agencies are legally required to make sure they are speaking to the right person before they are permitted to reveal the reason why they are making the call. Consumers are repeatedly told not to trust unknown callers and avoid providing any information that personally identifies themselves. Debt collectors are required by law to tell the consumer the reason why they are making the call. As a result, an awkward standoff occurs that is difficult to resolve.

Debt Collectors Limited to Outdated Technology

Because of legacy rules, as well as concerns over privacy, ARM collection firms are left having to resort to old-fashioned, outdated technology. Instead of harnessing the potential of the Internet, they instead end up having to communicate via telephone landlines and the postal service, neither of which is an ideal solution, especially when time is of the essence.

Dealing with The Issues

Although it may seem like an insurmountably difficult problem, there is a way to resolve the issues and to get ARM collection back on track in a way that is compatible with the 21st century. By putting in place cutting-edge payment processing technology from a company, such as BillingTree, ARM companies can meet compliance guidelines for HIPAA, SSAE-16, and PCI certification in order to convince consumers of their security and safety.

By eliminating the manual processes associated with ARM collection, BillingTree’s accounts receivable collections systems streamline the process of collecting due and overdue accounts by automating collection tasks and by providing a comprehensive range of payment capture methods that will facilitate the payment of money owed in order to avoid the awkwardness of those collection calls.

The Benefits of BillingTree’s Accounts Receivable Management System

BillingTree offers an advanced and innovative system for handling ARM collections that makes the process of receiving owed funds much quicker and simpler to deal with. By automating the system, it means that staff members will no longer have to deal with the embarrassing situation of contacting consumers by telephone and dealing with the identity issues that are facing the industry today. And, they will also be able to focus on a range of more important tasks. Thanks to BillingTree’s proven performance and best-of-breed solutions, ARM collection companies can rest assured that their systems will be in safe hands, and the difficulties that they face will be minimized.