Featured Article

Consumer Choice and the New Image of Debt Collection

When we have been doing something for most of our lives, like calling consumers to collect a debt, why would we think there is any other way? Kodak had the same kind of thinking when it came to photography even though they invented the digital camera. How could a company that had $16 billion in revenues and was worth over $31 billion dollars in 1996 file for bankruptcy in 2012? 

It really came down to consumer choice. When consumers had more than one choice, Kodak failed to give them what they wanted and was forced into bankruptcy because of it. We should learn from Kodak and listen to our customers. We are not giving consumers a choice when it comes to communicating with us. This is putting us exactly in the same place as Kodak, declining revenues, during a significant technological change. Read the article.

___________________________________________________________________

Highlight - Free Collection Strategy Webinars

Don't miss the next in our webinar series "Leading Strategically through the Recovery." May 6 at 3 PM EDT. Register here.

Thanks to LiveVox for their generosity - they are sponsoring the series.
Here's the line-up:

• Replay available! The Industry Outlook - The Flow of Impacted Consumers Through Delinquency
• The Impact of COVID-19 on Offers, Segmentation and Contact Strategies (4/28) - replay available soon
  
• Delivering Timely Customer Support in the Face of Rising Demand and Capacity Constraints (5/6)
• The Increasing Need for Free Credit Counseling as Customers Face Massive Financial Impact (5/7)
  
• The Role Crisis Can Play in Accelerating Innovation and Adoption (5/13)
• More to be added soon

iA Strategy & Tech Virtual Conference - Featured Session

Everyone in the world has been touched by COVID-19 in some way. A broader set of consumers are being impacted simultaneously, which increases stress for consumers and the financial institutions trying to support them. Many operations are faced with limited work options and or staff, at the same time as the number of customers who need our help is growing exponentially. This session will provide insight on why and how self-service can be a viable part of your long term strategy.

See the whole agenda 

See what a virtual conference looks like