Many of the initial Regulation F hurdles have been overcome, but everyone seems to be asking…”what now?”

Many of the initial Regulation F compliance hurdles have been overcome, but everyone at this year’s ACA conference seemed to be asking, “what now?” Some of the specific comments I heard:

• Reg F has outlined safe harbor rules to legally text and email…how do we start?

• We’ve implemented “7 in 7” restrictions…how can we improve RPC rates and get call volume up to pre-Reg F levels?

Our clients have seen how our Reg F compliance features have successfully managed “7 in 7” restrictions and all of the opt-in/opt-out requirements, we’re now seeing them approach the activity and call volume they had before the changes. Many are taking advantage of Reg F’s rules to email and text more.

ARM technology is advancing rapidly but…

Technology in the ARM industry is advancing quickly and clearly providing a competitive advantage to agencies deploying them. But the pain of changing legacy systems, or even building integrations, remains a significant barrier.

• How can I access cloud-based tools and analytics with my premise-based software?

• We’ve implemented “7 in 7” restrictions…how can we improve RPC rates and get call volume up to pre-Reg F levels?

Whether its a premise-based collection software platform or web-based, we’ve had tremendous success connecting legacy software to our contact center software and payment portal tools.

Quick and seamless onboarding can happen through one of our many existing technology partnerships, existing integrations, or our powerful open APIs.

Omni-channel communication is where the industry is headed…but the majority of agencies still aren’t doing it?

• Does the compliance risk of texting and emailing debtors outweigh the benefit?

• We’re getting more comfortable with the idea, but don’t know where to start?

We’re helping our clients implement these solutions at their own pace. Some clients went “all in” and others who have just dipped their toes in these tools. Either way, our clients like that we provide a whole suite of solutions (dialer, self-service portal, payment IVR, email, text, chat, and stealth voicemails).

Normal operational challenges seem to be getting worse…

• How can we hire, train, and retain quality staff more effectively?

• How can we reduce our cost to collect through automation and technology?

• How can I manage compliance more efficiently?

Leveraging the power of automation and machine learning through tools like speech analytics is a cost-effective way to manage compliance, streamline agent training, and improve the overall performance KPIs most important to debt collection agencies. Speech analytics comes standard with our dialer.

Add to this, our entire suite of dialing, messaging, and payment solutions include access to enterprise-level analytics and insights that provide the actionable insight supervisors need to make important day-to-day decisions.

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