October, 2018

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The Economic Impacts of the Debt Collection Industry

Credit Management Company

The common perception of the debt collection industry in modern times is almost overwhelmingly negative. Collectors in pop culture are often represented as callous, predatory characters who harass poor families and individuals when they're most vulnerable. While a very slim number of collectors may act in this manner, this portrayal is almost entirely false.

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What Are Fraud Analytics?

Fico Collections

The recent fascination with artificial intelligence and machine learning has made some of us ( naturally intelligent) humans confused about the role that these technologies play in the broader field of fraud analytics. In this blog post, I explain their usage and particularly how they will operate in the open banking revolution. . Source: FICO Blog.

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Sell More to Offset Bad Debt?

Receivables Control

How many more sales must you generate to offset bad debt? With the recent pullback in the stock market, it reminds us that the economic winds are ever-changing. You may think twice about your credit policy if your sales team is chasing poor credit risks in a volatile economic environment. We wanted to provide you information and a helpful tool to quantify the impact of bad debt and the sales volume necessary to offset it.

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Write This Down: Content Marketing is Cheap and Effective

NCBA Law Practice Management Blog

Despite changes to advertising rules, lawyers have marketed themselves in much the same way for generations. You find an office space, you go out and network, you do good work, and more work comes in. But, as consumers have become more discerning, and as law firm choices continue to proliferate, lawyers continue to stick with the same marketing strategy they always have.

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Solve Your Firms Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

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How To Get Paid On Time And Ensure That Good Paying Customers Stay That Way

AGA

As a 3 rd party collection agency, we have heard it all when it comes to why once good paying customers that were easy to work with are now past due, no longer ordering and unresponsive to your attempts to contact them. What went wrong? Why did a customer with whom you have been doing business with for quite some time and thought you had a good relationship with start slow paying and now is not paying at all?

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OMG! Texting and Debt Collection - What You Need to Know

Credit Management Company

More people than ever before are using text messaging to communicate. According to research by Nielsen, Americans text twice as much as they call. Debt collection agencies are doing everything they can to take advantage of this trend, but they need to ensure their practices adhere to federal law in order to avoid penalties. Collectors can accomplish this by having the right terms and conditions.

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The Customer Is Always Right: How to Develop Consumer-Friendly Pricing for Law Firms

NCBA Law Practice Management Blog

Modern law firm consumers are an entirely new breed. They have more law firm options than ever before, and aren’t afraid to use them. They are committed to mobile search. They are more cost-sensitive than any consumer base in modern history. Absent a near-instantaneous response from a potential lawyer hire, they will immediately move on to the next attorney on their list.

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The Strong Silent Type: Password Managers Bridge the Gap Between Convenience and Security

NCBA Law Practice Management Blog

Do you reuse the same passwords over and over again? Or, do you find yourself creating ever simpler passwords, so they’re easier to remember? Do you instead use really complicated passwords that you keep on sticky notes around the office? In the short run, th ese are easy solution s to password management; but, in the long term, it’s a security loophole that’s bound to come back to bite you.

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Sock It To ‘Em: Google Penalizes Non-Secure Websites

NCBA Law Practice Management Blog

Law firms depend on their websites to generate clients. For most law firms, if the website is not the primary driver of referrals, it’s confirmation to your potential clients that you’re an invested business owner, and is perhaps the first avenue through which you begin to build trust with consumers. But, if you didn’t update your website this Summer, there’s something you should know.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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What Is Law Practice Management Consulting?

NCBA Law Practice Management Blog

Law practice management consulting is, essentially, business management consulting for law firms. That may sound basic, but law practice management consulting is a highly specific genre, that contemplates the special components related to law firm management that do not attach to running other small business, including the ethics rules that lawyers must adhere to.