This year’s ACA Spring Forum was held in Las Vegas at the M Resort, located a few blocks from the strip. From March 14 to March 16, hundreds of people came to hear influential speakers and learn accounts receivables best practices. The conference was heavily focused on compliance and provided curriculum to help A/R professionals earn the Credit and Collection Professional (CCCP), Professional Collection Management (PCM) and other designations. But aside from the educational sessions, there were also great networking opportunities, a booming exhibit floor and Vegas’s always exciting atmosphere. Here are a few things that stick out in my head about ACA Spring Forum 2018:
For most collection agencies, a bulk of their collection efforts are focused on outbound dialing. However, when your dialing efforts are poorly distributed, your debt collection agency can miss out on potential revenue opportunities and end up wasting time and resources on phone numbers with little return. Below, we outline three steps you can take to evaluate (and enhance) your dialing strategies so you can maximize right party contacts (RPCs), improve performance and better allocate resources.
One of the most important metrics you can look at when evaluating your call disposition data is right party contacts (RPC). This is because RPCs have a direct correlation to dollars collected. However, if you look at right party contact rates from portfolio to portfolio, you will notice they are not the same across the board. While there are many things that can impact your RPC rate, here are 5 factors that might be affecting you.