Employing an effective debt-collection strategy—with the right information solutions provider—helps increase Right-Party Contacts (RPC) and drive operational effectiveness for any company, large or small. The rise of consumer sophistication, government regulations and client work standards continues to drive the demand for effective collection processes—and strategic alliances with information solutions providers are a critical element to success.
Your data vendor is an extension of your operation and picking the right one has never been more critical. When it comes to choosing the right provider, however, the first rule of thumb is to realize not all partners are created equal. Effectively evaluating potential data partners is a critical step to fully leverage their resources for optimal success. During the evaluation process, it's important to peel back the layers on the prospective partner's processes, technology and databases, in order to choose the vendor that best meets your individual needs.
Employing an effective testing strategy with your information solutions providers will enable you to evaluate their strengths and weaknesses and empower you to get the most value from the data you receive.