A leading producer of speech and customer engagement analytics placed Optio Solutions in its list of “The 50 Best Debt Collection Blogs” on June 28, 2017. CallMiner made the designations as a time-saving tool for business professionals to “stay on top of the hottest topics in the debt collection space.”
Writer Robert Stanley wrote that the best debt collection blogs aren’t ranked in order of quality or importance, but he recommends using the aggregation as a reference “to see which blogs you should add to your daily reading list.”
CallMiner helps companies automate the process of extracting insight from phone calls, chats, emails and social media engagement to improve customer service and sales, reduce costs, mitigate risks and identify areas for improvement. The company has received six Speech Technology implementation awards in the past four years.
The Best of the Best Debt Collection Blogs
In his review of Optio Solutions, Stanley stated: “Their blog covers important issues like data security in debt collection and provides tips on how to remain compliant. In addition to their blog, there is a resources section on their site that provides some expert advice on how to manage debt.” He also recommends three blog posts on the Optio site.
“Data Security at Debt Collection Agencies” is a fact-driven piece covering four recent data breach cases of note involving agencies within the debt collections industry. The article mentions that in 2016 alone, over 36.6 million data/individual data records were exposed to some degree. “The recent spike in data breaches coincides with an ever-growing number of individuals and businesses placing sensitive information online,” wrote Jessica Beaudry.
The article includes a high-profile breach of a collections network server containing the personal data of 15 million customers belonging to a U.S. wireless provider. The compromised records included the names, addresses, DOBs, Social Security numbers, driver’s licenses, military IDs and passport numbers of current and past customers. The agency in question subsequently strengthened IT security and offered assistance to everyone who was affected.
Next up, “Tax Season Debt Collection Strategy Ups ROI 30%” provides a short overview of debt collections during tax season that companies can use to recover debt while helping their loyal customers. The article discusses a year-round foundation that provides the optimum ROI using full compliance and certification, effective data security, collections technology and brand protection. With those measures in place, agencies can implement a tax season strategy focused on preparedness, timing, flexibility and modification.
Finally, “The Mission of Debt Collection Values” describes accounts receivable management as an industry where cutting corners is never an option. On the contrary, best-in-class agencies rely on “commitment, respect, accountability and transparency” to advocate for the clients and find solutions for consumers to help them recover from a difficult financial period in their lives.
“Maintaining debt collection values is an interdependent, holistic process,” wrote the author. “Improving value on one level generally improves the value of all others, and improving value on all levels generally improves the value that agencies offer to clients.”
Contact Optio today to learn about its individualized collection programs for a range of industries including automotive, education and student loans, energy and utilities, financial services, healthcare, insurance, retail and telecommunications as well as commercial collections.