How to run a successful collection agency

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A healthy and successful collection agency needs a collections management software solution that can put it ahead of the competition.

Karen Jonas, Senior Vice President of Field Sales for IC System, and Thom Majka, Director of Business Development, DebtNext discussed the partnership between the collection agency and the software platform provider and how this link makes it possible. the success of IC System.

“DebtNext software is a platform, a collection management platform, that brings technology to the credit and collection industries,” said Majka. “Within the industry, we are a leading application that allows us to manage all aspects of secure account placement and accounts receivable collections.

“It’s good to have DebtNext as a middleware company,” Jonas said. “We have about 20 clients that we partner with, and with that we can work at any level, we can get scorecards and we know where we stand for performance. We do reconciliations every month, so we have the right balances. It’s an advantage. The invoice is automatic via DebtNext. There are so many great things to work with them, and it allows us to focus on the collections. “

Majka recommended that collection agencies work with multiple vendors and look at many strategies.

“We have conversations with our clients to make sure they are working with organizations that have the best people and the best systems and processes in place,” said Majka.

And, with the growing competition in the debt collection industry over the past five years, healthy relationships and the pursuit of the best in all fields could very well be the edge that separates one successful agency from the rest.


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