The future of  Collection Agency Management



Volatile.  Unstable.  Unpredictable.  Without a doubt these are words to describe today’s collection industry.  However, this might also be the apropos moment for a collection agency to make its mark and define itself as a standout leader amongst an ocean of questionable firms.  Achieving this will require companies to take advantage of new strategies afforded by emerging collection technology, combined with the latest in analytical science. Keeping pace with the latest technology and most efficient managerial and motivational techniques, will not only increase efficiency, but is becoming absolutely necessary in maintaining client confidence.

Furthermore, inventory management has to be more efficient than ever as unsecured consumer debt approaches record default levels, which will raise the inventory sold and placed around the industry. If your current agency isn’t providing the most thorough debt recovery routines to ensure every single account is worked to its fullest, you will find your liquidation rates fall as the volume purchased or placed increases over time.

Diversify. Diversify. Diversify. As delinquent account volume approaches new highs this year, it will be extremely important that debt buyers and financial institutions find additional agencies to help bear the increasing load.  Greater portfolio distribution will diversify your placement volume further and increase competition between your agencies, creating insulation from any single point of weakness in your debt recovery strategy. Additionally, you will have the ability to increase collection effectiveness by cycling inventory through the various agencies. If one should fail, it will have less impact on the liquidation rates of your portfolio. The more successful agencies will be able to take on the additional inventory much easier than the shorter list of agencies you may currently employ.  When looking for additional agencies, remember that reliable performance and consistently high liquidation rates are of the utmost importance to your overall net yield.

P&B, LLC has been shattering the collection strategy paradigm by developing outside the box solutions to problems other agencies habitually accept as “just part of the industry.”  Their administrative and management staff routinely develops new techniques and solutions to problems that have stymied other agencies for years. This methodology is the primary reason why P&B historically and consistently out-liquidates all of its direct client competition.

To find out more about how P&B can increase your margins, call or contact us online today.  We will be happy to discuss your portfolio needs, and assist you in determining the best strategy for the coming year. With P&B’s help, you won’t remember this year as volatile, unstable, and unpredictable, but rather the year that you established a great collection partnership with P&B, LLC.

 

P&B Capital Group LLC
(Headquarters)
455 Center Rd
West Seneca, NY 14224
Phone: 877-743-9600
Fax: 716-891-5810