SimplicityCollectionSoftware

NOVEMBER 18, 2013

In a previous article we discuss the various types of ways that you can successfully make money in the collection industry. In this article we will talk about the pros and cons of 3 rd party debt collection and purchasing your own debt to collect on. Collecting for a 3 rd party – this involves finding a business or businesses that need help collecting their debt.

Collections 40

Collections Debt collector Debtor Judgment 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

As in any industry, understanding your competition is essential to the success of your collection business. If you are collecting debt for 3 rd party entities, it is vital that you understand what others in your industry and area are doing to be successful. Each demographic area has its own set of challenges. Even though debtors are wide-spread, the area in which you live can have a huge impact on how successful you can be at collecting debt.

Collection Agencies 40

Collection Agencies Collections Agency Debtor Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

One of the top reasons why businesses fail in the first few years is due to the fact that they were not set up correctly to begin with. If you are setting up your collection business with a business partner, make sure you have your business agreement, exit strategy, and legal documents set up prior to opening your doors. I don’t care who you are, MONEY CHANGES PEOPLE.

Collection Agencies 40

Collection Agencies Collections Agency Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

The answer to this question varies depending on your personality and business experience. I have always been under the philosophy that you find good, honest people, and surround yourself with those people. You may have pay a little more for those types of people, but they will save you mounds of headaches in the long run. Ask yourself how you would like to be managed, and then devise a way that would suffice your philosophies and beliefs.

Collections 40

Collections 40

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

SimplicityCollectionSoftware

NOVEMBER 18, 2013

This again comes back to the question of whether you are collecting your own debt or collecting for others. Obviously if you have others that are referring business to you, your primary target for advertising would be other business who will also refer business to you. One of the easiest ways to do this is to establish a website. When developing a website you need to establish a brand and a purpose for your site.

Collections 40

Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

As in any industry, understanding your competition is essential to the success of your collection business. If you are collecting debt for 3 rd party entities, it is vital that you understand what others in your industry and area are doing to be successful. Each demographic area has its own set of challenges. Even though debtors are wide-spread, the area in which you live can have a huge impact on how successful you can be at collecting debt.

Collection Agencies 40

Collection Agencies Collections Agency Debtor Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

One of the top reasons why businesses fail in the first few years is due to the fact that they were not set up correctly to begin with. If you are setting up your collection business with a business partner, make sure you have your business agreement, exit strategy, and legal documents set up prior to opening your doors. I don’t care who you are, MONEY CHANGES PEOPLE.

Collection Agencies 40

Collection Agencies Collections Agency Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

The answer to this question varies depending on your personality and business experience. I have always been under the philosophy that you find good, honest people, and surround yourself with those people. You may have pay a little more for those types of people, but they will save you mounds of headaches in the long run. Ask yourself how you would like to be managed, and then devise a way that would suffice your philosophies and beliefs.

Collections 40

Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

This again comes back to the question of whether you are collecting your own debt or collecting for others. Obviously if you have others that are referring business to you, your primary target for advertising would be other business who will also refer business to you. One of the easiest ways to do this is to establish a website. When developing a website you need to establish a brand and a purpose for your site.

Collections 40

Collections 40

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.