Auditing third party collection agencies is standard procedure among corporate clients in today’s business world. The reason for conducting audits is simple. Clients want to confirm that agencies are protecting their interest with compliant practices and efficient collection efforts that result in a favorable return on investment, brand protection, and customer retention. Auditing third party…
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“Be Prepared” has been the motto of the Boy Scouts of America ever since the youth organization was founded in 1910. It should also be the motto of any tax season collection strategy. To a scout, the motto translates to being ready and equipped for any life situation. To a third party collection agency, “be…
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The NEUCC is an organization run by volunteers from the northeastern U.S. utilities industry. Their Credit and Collection Conference is geared towards assisting members in addressing their revenue cycles with new strategies. Collections, credit, payment processing, field services, and customer service are all topics to be discussed at NEUCC. Representatives of electric, gas, and water…
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For the second consecutive year, college-bound children of employees at Optio Solutions and affiliate CrossCheck were awarded scholarships from the ACA International Education Foundation (ACAEF). Trevor Arco (Texas) finished in second place while Nicholas Siembieda (Calif.) was among the fourth-place winners. The recognitions were part of the foundation’s Loomer-Mortenson Scholarship, an annual program that recognizes…
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There is only one season that really matters to the debt collection industry — the tax season that runs from late January to mid-April. Hence the need for planning a tax season collection strategy. There are others types of seasons, however, including those recognized by people living in a variety of places around the world.
Individuals from tropical regions often refer to the dry season and rainy season; most of the world follows the astronomical seasons (spring, summer, autumn and winter) of the Gregorian calendar; and numerous cultures recognize six seasons that roughly translate to early spring, spring, high summer, late summer, autumn and winter in western countries, or spring, summer, monsoon, autumn, early winter and late winter in south Asia.
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Third party collection agencies maintain clean desk policies to protect the confidential, personal or sensitive information belonging to agency clients and consumers. A component of compliance management systems (CMS), clean desk policies work in concert with secure controls over networks, file transfer protocols, data storage, backup systems, employee training programs, authorized access to buildings and…
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