Browse Category: Skip Tracing

Hanging phones - Batch Skip Tracing KPIs Blog

Batch Skip Tracing KPIs – Descriptions & Best Practices

In our previous blog, “Pros and Cons of Different Batch Skip Tracing Tests“, we discussed three types of batch phone append tests you might use when trying to evaluate a new or existing skip tracing vendor. The three tests described were: champion challenge (overlap), champion challenge (A/B test) and a retroactive test. While each type of test has its pros and cons, each test also has varying skip tracing KPIs. We’ve outlined the key performance indicators, how to measure them and what tests they are best suited for.

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5 Ways to Spend Less Money on Skip Tracing Data

Last Fall, we published a series of tips aimed at helping readers reduce skip tracing expenses by reducing excess/unnecessary data, proactively minimizing wrong numbers and looking at the overall cost of your skip tracing efforts. We have compiled all of these tips into one convenient blog, so without further au due, here are 5 ways to spend less money on skip tracing data:

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Pros and Cons of Different Batch Skip Tracing Tests

Adding a new data provider to your skip tracing process can come with some unknowns, but when goals and objectives are laid out clearly, both the vendor and the client are able to execute testing and implementation more effectively. At LocateSmarter, we want to make sure our prospective clients are set up for success, so we have outlined three of the most common batch skip tracing tests. Which test you decide to execute will depend on your collection software, internal resources and time.

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3 Steps for Increasing RPCs with Dialing Analytics

3 Steps for Increasing RPCs with Dialing Analytics

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.

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Tax Season Tips for Collections

Tax Season Tips for Collections

Growing up in operations at a large collection agency in the high volume telecom world, it never ceased to amaze me how early we needed to start preparing for the tax season. Whether you have competitive portfolios or not, you’re always trying to outperform other agencies. If your competitors are doing it better, that can be a steep hill to climb all year on those scorecards. Here’s a few things you can do to prepare for tax season now:

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Data Sharing With Your Competition

*GASP* Data Sharing with Your Competition?

Litigation runs high in the collection world. The many regulations and regulatory bodies to contend with creates a minefield for agencies: FDCPA, FCRA, TCPA, UDAAP, CFPB…

A lot of litigious action stems from consumer complaints regarding attempting to contact the wrong person. If an agency attempts to call a number 100 times and on the 101st attempt finds out it is not even the correct party, it can be setting itself up for an FDCPA claim. It would be much easier if the agency had the right contact information in the first place, but how can they reliably know it’s the correct information before they dial? If you’re collecting as a secondary tier agency, it might very well be that the agency who had the account before you knows exactly that.

But wouldn’t that mean data sharing with a competitor? Gasp!

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How We Choose our Phone Append Data Sources

You’ve heard the phrase, “Behind every great man is a great woman.” Well, a similar concept applies to our proprietary phone append product. (“Behind every great data product is great data sources.”)

The reason why LocateSmarter Phone Append is a great phone append product is because of our selective choice in data sources. Before adding a data source to our product, they undergo thorough testing and must meet our high expectations when it comes to quality, uniqueness, security, automation and price. Here are a few things taken into consideration:
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5 Factors that Affect Right Party Contact Rates

5 Factors that Affect Right Party Contact Rates

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.

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