Collector - October 2020 - 5

COLLECTOR

®

CHIEF EXECUTIVE OFFICER
Mark Neeb
COMMUNICATIONS DIRECTOR &
EDITOR-IN-CHIEF
Anne Rosso May
DESIGN FIRM
The YGS Group
COMMUNICATIONS MANAGER
Katy Zillmer
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PRESIDENT'SPAGE

Staying in the Game
Technology is always changing, but with that change comes more
accessibility for agencies of all sizes.
By G. Scott Purcell

Y

ou make a difference! ACA International members run their businesses well. Higher
quality is typically correlated with lower costs. One of my areas of focus is on how
ACA members use technology. We know from Kodak that you can do significant
damage to your business if you don't keep pace with technology. Had Kodak better embraced
the digital world, not only would they have prevented damage to their business, odds are they
also would have created a significant increase in value.
The price of technology continues to decrease and most products can be purchased at scale,
which means that agencies of any size should be able to participate. Technology drives down costs
and increases brand value and organizational value. Companies lower their costs by finding ways
to reallocate labor to activities better suited for people. Technology also increases compliance,
which helps agencies avoid the costs of non-compliance. Your agency's brand value increases if
the technology you use makes it easier for consumers and/or clients to interact with you.
For example, the rapidly evolving call
recording and call analytics technology
started out being very expensive and
reserved for larger agencies. Today the
costs have fallen dramatically, making
that technology more accessible for
agencies of any size.
At our agency, I marvel at the cost
reduction we're able to achieve with our call
analytics tools. We segregate each call by type,
and then we study the call types that consume
a lot of collector time.
As you can imagine, disputes related to "my insurance should have paid" are common. We
created a new landing page on our consumer portal that captures that insurance info. Now,
when the consumer has that issue, we send a text link to that landing page (which makes it
easier for the consumer to respond later that day when they have access to their insurance
details). We also set up a robotic process automation tool to identify when the form is filled out
and update our collection platform, which then kicks off a workflow to get the new insurance
information to the client. The consumers have a much better experience and our costs for
addressing this specific type of interaction are significantly lower.
Technology will continue to evolve, get easier and get cheaper. It's on us to choose to partner
with it, so that we don't cause our own negative Kodak moment.

"Your agency's brand
value increases if the
technology you use
makes it easier for
consumers and/or clients
to interact with you."

G. Scott Purcell is president of

Professional Credit. He can be reached
at spurcell@professionalcredit.com.

©2020 ACA International. All rights reserved. Materials
COLLECTOR 10.20
may not be reproduced without written permission.

5


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Collector - October 2020

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

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