A year ago, agencies were
looking to automate more of their processes as a way of keeping costs down.
What do agencies want to do this year?
BillingTree is seeking the answer to that
question and more as it launches its 5th annual Operations and Technology
Survey for the ARM industry. The payment processing company is looking
for participants in this yearís survey, which can be accessed by going to
The survey provides a snapshot of the collections industry on many
different levels, including the types of debt that are being collected,
the size of collection agencies, the technology being used to collect on
debts, and assessments of the risks and opportunities for the industry in
2017 and beyond.
This year, for example, BillingTree is curious
about how collection agencies are assessing the impact of last Novemberís
During the course of the previous four surveys, it has been interesting
to see the different trends that have evolved. For example, the use of
virtual debt negotiation tools has increased sevenfold during the past
two years. The deployment of integrated voice response (IVR) technology
has also doubled in the past year.
Last year, the greatest compliance risk or likelihood of causing consumer
complaints was accidentally calling someone on their cell phone,
according to the more than 200 participants who completed the survey.
What kept collection agency executives up at night was compliance policy
implementation and maintenance, increased operating expenses, upgrades to
technology platforms, staff training, CFPB audits, fraud, and FDCPA
Individuals that complete the survey will receive a complimentary copy of
the results, which will be released in the Spring.