Immediate Collection Strategy Solutions for the Impacts of COVID-19

As many of us know, when delinquency and losses rise, especially at this speed and to this degree, companies have to make significant strategic decisions. Based on conversations with leaders and a look at various forecasts, I predict the first light wave of delinquent and impacted customers will flow through to charge-off beginning in September. This is significant because you will have pandemic-related delinquency in every single bucket, on top of the pre-COVID-19 delinquency that already existed and has likely only gotten riskier.  Companies will need to take immediate action to be prepared for when peak pre and post-charge-off delinquency levels hit the system. Here’s what I anticipate to be the top collection strategy priorities for the remainder of the year...

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Maintain Business Continuity during the COVID-19 Crisis with Digital Payment Solutions

The COVID-19 Crisis has highlighted the importance of having an effective business continuity plan, and payments collection is a critical capability that must be evaluated within this plan. A payment business continuity kit can provide solutions that mitigate risks while preparing your business for the future. The business continuity kit is composed of payment processing solutions that are driven through self-service or e-commerce channels, PCI-compliant and secure, and accessible to your customers.

Does your business have an effective business continuity plan to deal with a crisis?

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Do You Have Insurance Coverage For Business Losses Due to the COVID-19 Pandemic?

Many business owners have incurred, and will continue to incur, substantial financial losses as a result of the COVID-19 pandemic. Because these losses may be covered by commercial business insurance policies we have been assisting our clients by reviewing their policies and making claims for coverage.  Not surprisingly, insurance companies are quick to provide coverage for COVID-19 related losses.  This, however, should not deter you from pursuing coverage in appropriate cases.  We are glad to assist you in determining whether your business insurance policy provides coverage and making a claim if appropriate.

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Leading Strategically Through the Recovery: The Impacts of COVID-19 on Existing Segmentation Strategies

28 April 2020 at 03:00 p.m.

Join this webinar to hear from the team at 2nd Order Solutions and The Boston Consulting Group as they team up with insideARM's Amy Perkins to share how they're preparing clients to evaluate their portfolio, customer differentiation and ultimately segmentation post COVID-19.

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Free Reports and Webinars

from insideARM.com

» Ask Amy: Leading with Authenticity During a Crisis

» Maintain Business Continuity during the COVID-19 Crisis with Digital Payment Solutions

» Top 4 Issues Collection Strategy Execs Must Consider Now: COVID-19 Edition

» Accounts Receivable Management | An Essential Part of the U.S. Economy

» The State of Third Party Collections: Challenges, Trends, and Innovations

» Interstate Collections & Licensing

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