Collections
According to the US Bureau of Labor Statistics, as of May 2020, there were approximately 415,000 workers employed in the collection industry in the United States. The industry is expected to grow at an average rate of 3% from 2019 to 2029, with an additional 11,500 new jobs projected to be created.
Remote work can particularly benefit the collection industry for several reasons. First, it can provide a cost-effective solution for agencies that need to manage their resources efficiently. By hiring virtual assistants, agencies can reduce the cost of office space, equipment, and other expenses associated with traditional in-office employees.
Virtual Assistants can also help collection agencies to manage their workload more efficiently, as they can work on a flexible schedule, providing support during peak periods and scaling back when demand is low. This can help agencies to meet their collection goals while managing their resources effectively.
Finally, virtual assistants can provide collection agencies with access to a broader talent pool, as they can hire employees from anywhere in the country. This can help ensure they have access to the skills and experience they need to succeed in a competitive market.
Overall, remote work can provide significant benefits to the collection industry, including cost savings, increased flexibility, and access to a broader pool of talent, making it an essential resource for collection agencies looking to improve their operations and achieve their goals.
There are several virtual assistant services we can offer, including:
Data Entry and Document Preparation
Our team can assist with data entry and document preparation, freeing up collection agents to focus on higher-value tasks such as negotiating payment plans and managing difficult accounts.
Follow-Up Calls
Our team can make follow-up calls to customers to remind them of payment due dates, negotiate payment plans, and resolve disputes.
Administrative Support
Our team can provide administrative support to collection agencies, including scheduling appointments, managing email, and providing customer support.
Skip Tracing
Our team can assist collection agencies in locating customers who have moved or changed their contact information, making it easier to track down delinquent accounts.
Customer Support
Our team can provide customer support to customers who have questions or concerns about their accounts, including providing information on payment options and resolving disputes.
Compliance Support
Our team can assist with compliance-related tasks, including tracking and recording communication with customers, ensuring that collection activities are in compliance with applicable laws and regulations.
Reporting and Analytics
Our team can help with reporting and analytics, providing collection agencies with insight into their operations, including account performance, payment trends, and other key metrics. Data shall be provided by the agency.
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