Collector – June 2019 - 22

A Promising Future
The broad U.S. accounts receivable management (ARM) industry
has seen moderate revenue growth since the turn of the millennium,
growing from nearly $8.2 billion in 2000 to roughly $17.1 billion by
2017, and is projected to increase by about 4.4 percent annually, on
average, over the next few years.

ARM INDUSTRY REVENUE
$25B

$20B

$15B

$10B

$5B

$0
2002

2004

2006

2008

2010

Source: Kaulkin Ginsberg Company, Census Bureau, & Public Filings

2012

2014

2016

Historical

2018

2020

2022

Forecast

Industry revenue during the two recessions since 2000 is illustrated
by values within the orange shading in the graph.
Although revenue continued its upward trajectory in 2001, the
Great Recession proved to be a whole other animal, as ARM
industry revenue fell by roughly $2.4 billion overall from 2007 to
2009. If there were to be another recession in the near future, the
ARM industry shouldn't necessarily worry unless it's derived from
something as structurally deficient, like the housing market and
lending/borrowing habits were in the mid-to-late 2000s.

putting your business in a place that's not as
impacted if one or two of your clients were
to go away."
Another big change since the Great
Recession has been the ARM industry's
slow but steady migration toward new
technology and automation.
In a 2009 article for Collector magazine,
John McNamara, at the time chief
marketing officer for LiveVox and now
assistant director of consumer lending,
reporting and collections markets at
the Consumer Financial Protection
Bureau, noted, "Recessions drive agent
productivity. The 1990/91 recession led to
widespread use of collection application
systems, scoring and dialers."
Similarly, the Great Recession helped
nudge ARM companies toward technology
like call analytics, email communication
and systems that use artificial intelligence
to make right-party contacts. Today,
text messaging programs and direct-tovoicemail technology are also available,
and many agencies are starting to embrace
these new technologies to optimize their
contact strategies.
"If there are three pillars of things
that we're encouraging our customers,
first- or third-party, to think about, it's
their strategy around segmentation,
prioritization and contact information,
and if they have the data necessary to
inform those strategies," said Matt Hein,
vice president and head of financial
services collections at TransUnion.
This involves gathering accurate, updated
information on each consumer in your file:
Did this person file bankruptcy? Has this
person died? Is this person active military?
What is their credit history? Are they truly
struggling or just distracted? Are these
addresses and phone numbers current? All
those data points are critically important.
"We've been in a long recovery, and
if you haven't looked at your collection
strategies in a while, it's time to evaluate
them and potentially refresh them so
you're not caught off guard," said Angela
Granger, vice president of analytics at
Experian.

-Written byJared Lese
22

ACAINTERNATIONAL.ORG


http://www.ACAINTERNATIONAL.ORG

Collector – June 2019

Table of Contents for the Digital Edition of Collector – June 2019

President’s Page
Industry News
Best Practices
FYI
Collection Tips
Adapting to a New Environment
“Today agencies realize this is an opportunity to help the consumer.”
ACA International’s 2019 Convention & Expo
Close the Revolving Door
Calendar
Honor Roll
Education Spotlight
Ask the Experts: Small Talk
Growing into the Industry
Exploring STIR/SHAKEN
CFPB Releases Proposed Debt Collection Rule
Industry Advancement Program Helps Member Defeat FDCPA Claim in Ninth Circuit
ACA SearchPoint
Ad Index
Membership
Last Word
Collector – June 2019 - Cover1
Collector – June 2019 - Cover2
Collector – June 2019 - 1
Collector – June 2019 - 2
Collector – June 2019 - 3
Collector – June 2019 - Industry News
Collector – June 2019 - President’s Page
Collector – June 2019 - 6
Collector – June 2019 - 7
Collector – June 2019 - 8
Collector – June 2019 - 9
Collector – June 2019 - Best Practices
Collector – June 2019 - 11
Collector – June 2019 - FYI
Collector – June 2019 - 13
Collector – June 2019 - 14
Collector – June 2019 - 15
Collector – June 2019 - Collection Tips
Collector – June 2019 - 17
Collector – June 2019 - Adapting to a New Environment
Collector – June 2019 - 19
Collector – June 2019 - 20
Collector – June 2019 - 21
Collector – June 2019 - Close the Revolving Door
Collector – June 2019 - “Today agencies realize this is an opportunity to help the consumer.”
Collector – June 2019 - ACA International’s 2019 Convention & Expo
Collector – June 2019 - 25
Collector – June 2019 - 26
Collector – June 2019 - 27
Collector – June 2019 - 28
Collector – June 2019 - 29
Collector – June 2019 - 30
Collector – June 2019 - 31
Collector – June 2019 - 32
Collector – June 2019 - 33
Collector – June 2019 - Calendar
Collector – June 2019 - Honor Roll
Collector – June 2019 - Education Spotlight
Collector – June 2019 - 37
Collector – June 2019 - Ask the Experts: Small Talk
Collector – June 2019 - 39
Collector – June 2019 - Growing into the Industry
Collector – June 2019 - 41
Collector – June 2019 - Exploring STIR/SHAKEN
Collector – June 2019 - 43
Collector – June 2019 - CFPB Releases Proposed Debt Collection Rule
Collector – June 2019 - 45
Collector – June 2019 - Industry Advancement Program Helps Member Defeat FDCPA Claim in Ninth Circuit
Collector – June 2019 - 47
Collector – June 2019 - ACA SearchPoint
Collector – June 2019 - Ad Index
Collector – June 2019 - Membership
Collector – June 2019 - 51
Collector – June 2019 - Last Word
Collector – June 2019 - Cover3
Collector – June 2019 - Cover4
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