Collector - June 2020 - 17

COVER

I

G
N
I
T
N
O
I
T
C
E
R
ption, but
u
r
is
d
a
g
nticipatin
We were a
. Here's
is
h
t
e
k
li
d
at looke
not one th
mbers are
e
m
l
a
n
io
t
terna
how ACA In
ity of our
x
le
p
m
o
c
o the
adapting t
ning their
io
it
s
o
p
d
n
-a
new world
the future.
in
d
e
e
c
c
to su
companies
sso May
By Anne Ro

COLLECTOR 06.20

f you squint, you might be able to see
it: our post-pandemic world, vastly
different from the one we knew before.
The landscape has been reshaped by
hiring freezes, layoffs, salary reductions,
workforce relocations and business closures.
Many consumers were forced to raid their
emergency savings, often taking on debt for
essentials like food and rent. Not to mention,
the long-term effects of social distancing and
quarantines are a true wild card. Once we
can all freely stand next to each other again
without face masks and hand sanitizer, what
will the world look like?
Accounts receivable management (ARM)
leaders have spent the last few months
reacting to the coronavirus crisis, trying to
keep their companies afloat as states shut
down or severely restricted debt collection
activities. For a while there, just keeping
up with all the added rules and regulations
handed down by the federal and state
governments felt like a full-time job.
Even in states that continued to allow
debt collection, companies faced challenges.
In areas that had implemented stay-athome orders, for instance, many companies
had to scramble to secure headsets and
laptops for their new remote workforce,
racing to ensure all their data was secure
and collectors stayed on track.
Now it's time to think about repositioning
as businesses gradually begin to dust
themselves off. While we don't know when
the economy will fully recover, ARM
professionals can still find ways to succeed
by embracing new technologies and methods
of communication.
"This is not going to be over for a while,"
said Mary Shores, CEO and president of
Midstate Collection Solutions in Champaign,
Illinois. "Even if the virus takes a turn for
the better on June 1, the trauma created as a
result is going to be ongoing for a very long
time, just like with 9/11. This is something
that changes life as we know it. It's going
to affect our industry for the long-term,
perhaps even forever."

17



Collector - June 2020

Table of Contents for the Digital Edition of Collector - June 2020

Collector - June 2020 - Cover1
Collector - June 2020 - Cover2
Collector - June 2020 - 1
Collector - June 2020 - 2
Collector - June 2020 - 3
Collector - June 2020 - 4
Collector - June 2020 - 5
Collector - June 2020 - 6
Collector - June 2020 - 7
Collector - June 2020 - 8
Collector - June 2020 - 9
Collector - June 2020 - 10
Collector - June 2020 - 11
Collector - June 2020 - 12
Collector - June 2020 - 13
Collector - June 2020 - 14
Collector - June 2020 - 15
Collector - June 2020 - 16
Collector - June 2020 - 17
Collector - June 2020 - 18
Collector - June 2020 - 19
Collector - June 2020 - 20
Collector - June 2020 - 21
Collector - June 2020 - 22
Collector - June 2020 - 23
Collector - June 2020 - 24
Collector - June 2020 - 25
Collector - June 2020 - 26
Collector - June 2020 - 27
Collector - June 2020 - 28
Collector - June 2020 - 29
Collector - June 2020 - 30
Collector - June 2020 - 31
Collector - June 2020 - 32
Collector - June 2020 - 33
Collector - June 2020 - 34
Collector - June 2020 - 35
Collector - June 2020 - 36
Collector - June 2020 - 37
Collector - June 2020 - 38
Collector - June 2020 - 39
Collector - June 2020 - 40
Collector - June 2020 - 41
Collector - June 2020 - 42
Collector - June 2020 - 43
Collector - June 2020 - 44
Collector - June 2020 - Cover3
Collector - June 2020 - Cover4
http://online.collector.com/collectormagazine/202007
http://online.collector.com/collectormagazine/202006
http://online.collector.com/collectormagazine/202005
http://online.collector.com/collectormagazine/202004
http://online.collector.com/collectormagazine/202003
http://online.collector.com/collectormagazine/202002
http://online.collector.com/collectormagazine/202001
http://online.collector.com/collectormagazine/201912
http://online.collector.com/collectormagazine/201911
http://online.collector.com/collectormagazine/201910/
http://online.collector.com/collectormagazine/201909/
http://online.collector.com/collectormagazine/201908/
http://online.collector.com/collectormagazine/201907/
http://online.collector.com/collectormagazine/201906/
http://online.collector.com/collectormagazine/201905/
http://online.collector.com/collectormagazine/201904/
http://online.collector.com/collectormagazine/201903/
http://online.collector.com/collectormagazine/201902/
http://online.collector.com/collectormagazine/201901/
http://online.collector.com/collectormagazine/201812/
http://online.collector.com/collectormagazine/201811/
http://online.collector.com/collectormagazine/201810/
http://online.collector.com/collectormagazine/201809/
http://online.collector.com/collectormagazine/201808/
http://online.collector.com/collectormagazine/201807/
http://online.collector.com/collectormagazine/201806/
http://online.collector.com/collectormagazine/201805/
http://online.collector.com/collectormagazine/201804/
http://online.collector.com/collectormagazine/201803/
http://online.collector.com/collectormagazine/201802/
http://online.collector.com/collectormagazine/201801/
http://online.collector.com/collectormagazine/201712/
http://online.collector.com/collectormagazine/201711/
http://online.collector.com/collectormagazine/201710/
http://online.collector.com/collectormagazine/201709/
http://online.collector.com/collectormagazine/201708/
http://online.collector.com/collectormagazine/201707/
http://online.collector.com/collectormagazine/201706/
http://online.collector.com/collectormagazine/201705/
http://online.collector.com/collectormagazine/201704/
http://online.collector.com/collectormagazine/201703/
http://online.collector.com/collectormagazine/201702/
http://online.collector.com/collectormagazine/201701/
http://online.collector.com/collectormagazine/201612/
http://online.collector.com/collectormagazine/201611/
http://online.collector.com/collectormagazine/201610/
http://online.collector.com/collectormagazine/201609/
http://online.collector.com/collectormagazine/201608/
http://online.collector.com/collectormagazine/201607/
http://online.collector.com/collectormagazine/201606/
http://online.collector.com/collectormagazine/201605/
http://online.collector.com/collectormagazine/201604/
http://online.collector.com/collectormagazine/201603/
http://online.collector.com/collectormagazine/201602/
http://online.collector.com/collectormagazine/201601/
http://online.collector.com/collectormagazine/201512/
http://online.collector.com/collectormagazine/201511/
http://online.collector.com/collectormagazine/201510/
http://online.collector.com/collectormagazine/201509/
http://online.collector.com/collectormagazine/201508/
http://online.collector.com/collectormagazine/201507/
https://www.nxtbookmedia.com