Leadership in the ARM debt collection industry may not be life or death of individuals, but decisions can impact the growth or demise of a business, which in turn affects the lives of employees or clients in profound ways. Modern debt collection software helps businesses act on big decisions.

Optimism and hope were the two words for the ACA conference in Nashville, TN in July. Collection agencies are optimistic about the industry, their businesses, and new technologies to advance their goals.

The ACA International annual conference provides industry information, training, and opportunities for networking invaluable to the debt collection professional. Come visit InterProse at Booth 223 in the vendor space. InterProse is a Silver Sponsor for the 2018 Nashville ACA Conference.

In the debt recovery industry, CIA stands for Communication, Integrity, and Availability. This is an acronym Jeremy Mapes promotes to prioritize issues when evaluating web based software platforms. Your vendor should be able to detail how data is protected, backed up, and accessed by trusted users.

Regulation in the debt collection market is inconsistent and frustrating for agency owners. Calls for consistency in the regulatory environment has become a chorus over the years, but with no coordination between the various regulatory agencies. Leadership changes to the CFPB bring new hope. Or not.

Data analytics for debt collection agencies or departments can optimize processes to reduce wasted time, maximize RPCs right party contacts, evaluate employee performance, or any number of business metrics that can squeeze out more profit. Integrated tools in modern platforms are most effective.

The costs of NOT modernizing debt collection software could be greater than buying new software. Be more efficient and competitive by reducing costs, automating redundant actions, providing more resources for clients and consumers. Replace old collection software with a modern, future-proof option.

Data security is only as good as the weakest point of protection. The weakest link in security is usually the people using the software that holds the data. Education, vigilance and training are what keep employees from getting into trouble. Process compliance is a constant concern for data security

Collection agencies should create a culture of curiosity and constantly be testing their strategies and decisions. From modern communication strategies to visual presentations on websites or within documents, small changes can make big impacts to successfully collecting a debt.

Data analytics can supercharge debt collection activities by utilizing a company's own data and/or adding data enrichment services to clean or augment records. Targeted, focused efforts through objective data analytics means more efficient activity and higher collection rates.