Collector - November 2020 - Cover3

From RMEx - The most powerful collection platform in the world

Thoughts from a second-generation collection agency owner
This is not a time for us to be trapped by compliance requirements at the expense of numerous
competitive, legal and operational challenges we also face. Compliance is likely to be a moving
target that makes us more reactive with every court decision. As those decisions are made, is it
realistic to change with the winds to mitigate risk?
As we realize that many millennials are afraid to make traditional phone calls, there is a need to
quickly create a new medium to interact with the consumers of tomorrow. Our focus should be
on how we can move forward, reduce costs and increase productivity for tomorrow; embracing
online, intelligent negotiation tools to allow today's younger generation to interact with collection
agencies in ways that they are comfortable, not intimidated by. When they become our singular
source of revenue, we will hopefully all be experts in a medium that our competitors are just
starting to realize is a much-needed resource.
Our industry is experiencing rapid change, but many of us resist
change because of fear. We think "costs" before even considering the
potential savings. We worry about the push back from our star
collectors instead of how the right tools may create many more stars
on our collection floors.
It's fun to sometimes shake it up. If the only reason you do something
today is because "That's the way it has always been done", it's
probably being done ineffectively or inefficiently, or both. Our focus
should be on the "Why are we doing this, and how we can do it
better", not on recreationally refining the same policies and procedures
we have always stood by. Hasn't technology shown that if you change
nothing today, you are that much closer to being irrelevant tomorrow?
Many of us have a love and passion for what we do, but find ourselves
flirting with paper thin or negative margins. For some of us, growth means catching up with the
latest technology, while for others, it is anticipating tomorrow's pain points. It's a great time to
recreate our mission and value statements; time to change tired mindsets and think forward to
tomorrow's new demands!


David Sopourn is President of Operations at Capital Collection Service in New Jersey.
David uses Quantrax's RMEx platform for collections. He describes Quantrax's new RPC
console by saying "It's a game changer. Simply stated, if accounts have numbers to be
dialed, they will be called at the correct time, at the
correct number, every single time! During the month of
placement, our largest client went from 0.10% to 4.70%
in recoveries, topping 10.82% in month 2. 10% is what
our competition is doing for this client in total."
Quantrax's technology guarantees that all potential
phone numbers are uniformly dialed with regard to call
www.quantrax.com
frequency and time of day.
301.657.2084


http://www.quantrax.com

Collector - November 2020

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

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