Collector – January 2020 - 14

FYI

SUCCESSION

PLANNING

FAMILY MATTERS
According to a recent PwC survey, only one-third of U.S. family businesses are
expected to last beyond the founders' generation, while even less (12%) will make it
to a third generation. One of the biggest challenges family businesses face is making
the transition from the first generation to the second-or, as PwC puts it, from
startup entrepreneur to a more structured, complex organization. Here's what survey
respondents say they're doing to succeed:

39%

62%

39%

Expect they'll buy
or merge into other
companies.

Are encouraging the next
generation to gain work
experience outside of the
family business.

47%

58%

Plan to bring in outside
expertise to help run
the company.

Have succession plans
(though most are informal).

Of organizations offer
retirement investment
advice to employees.
Source: SHRM

Source: WalletHub

NAME CHANGE

OPERATIONS

BUDGET BREAKDOWN
As is the case for many companies, no matter the industry, payroll is the most
significant expense for third-party debt collection businesses, according to a recent
TransUnion survey. Employee-related expenses have been on the rise in recent
years, with two-thirds of survey respondents reporting increased funding for payroll
expenses. "Increases in 2019 budgets relative to 2018 for postage and software to
process payments and manage the collections process were also common," the
survey found.

41%

Payroll
Legal defense &
settlement

10%
9%

Postage

8%

Software
Marketing/business
development

7%
6%

Telephony

4%

Data acquisition
Compliance
management system

3%
13%

Other
0

5

10

15

20

25

30

35

40

45

THE NEW FACE
OF CONSUMER
EDUCATION
ACA International's Financial
Literacy Committee unanimously
voted to rename its "Ask Dr.
Debt" consumer education
website, "KnowMyDebt."
The name was selected
from a list of 207 creative
suggestions submitted as
part of the committee's Ask
Dr. Debt Renaming Contest.
"KnowMyDebt" was submitted
by Patricia Quezada, director
of revenue cycle at Progressive
Management Systems in
Covina, California.
Congratulations, Patricia!

Source: TransUnion/Aite Group third-party debt collection survey, May 2019-June 2019.

14

ACAINTERNATIONAL.ORG



Collector – January 2020

Table of Contents for the Digital Edition of Collector – January 2020

Upfront
Industry News
Best Practices
FYI
Collection Tips
Radical Redesigns
Four State Legislative Trends to Watch
Calendar
Honor Roll
Education Spotlight
Our International Reach
Tech Times are Changing
Exceptional Programming and Speakers Pay Off
Looking Forward to Monday Morning
Contextualizing Consumer Complaints
Another Look at Written Disputes
ACA SearchPoint
Ad Index
Membership
Last Word
Collector – January 2020 - Cover1
Collector – January 2020 - Cover2
Collector – January 2020 - 1
Collector – January 2020 - 2
Collector – January 2020 - 3
Collector – January 2020 - Upfront
Collector – January 2020 - 5
Collector – January 2020 - Industry News
Collector – January 2020 - 7
Collector – January 2020 - 8
Collector – January 2020 - 9
Collector – January 2020 - 10
Collector – January 2020 - 11
Collector – January 2020 - Best Practices
Collector – January 2020 - 13
Collector – January 2020 - FYI
Collector – January 2020 - 15
Collector – January 2020 - Collection Tips
Collector – January 2020 - 17
Collector – January 2020 - 18
Collector – January 2020 - 19
Collector – January 2020 - 20
Collector – January 2020 - 21
Collector – January 2020 - 22
Collector – January 2020 - 23
Collector – January 2020 - Radical Redesigns
Collector – January 2020 - 25
Collector – January 2020 - 26
Collector – January 2020 - 27
Collector – January 2020 - Four State Legislative Trends to Watch
Collector – January 2020 - 29
Collector – January 2020 - 30
Collector – January 2020 - 31
Collector – January 2020 - Calendar
Collector – January 2020 - Honor Roll
Collector – January 2020 - Education Spotlight
Collector – January 2020 - 35
Collector – January 2020 - Our International Reach
Collector – January 2020 - 37
Collector – January 2020 - Tech Times are Changing
Collector – January 2020 - 39
Collector – January 2020 - 40
Collector – January 2020 - 41
Collector – January 2020 - Exceptional Programming and Speakers Pay Off
Collector – January 2020 - 43
Collector – January 2020 - 44
Collector – January 2020 - Looking Forward to Monday Morning
Collector – January 2020 - Contextualizing Consumer Complaints
Collector – January 2020 - 47
Collector – January 2020 - 48
Collector – January 2020 - 49
Collector – January 2020 - Another Look at Written Disputes
Collector – January 2020 - 51
Collector – January 2020 - ACA SearchPoint
Collector – January 2020 - Ad Index
Collector – January 2020 - Membership
Collector – January 2020 - 55
Collector – January 2020 - Last Word
Collector – January 2020 - Cover3
Collector – January 2020 - Cover4
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