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The B2B debt collection market is experiencing significant growth, as evidenced by clear, quantifiable data from reputable sources. A new study by The Kaplan Group provides insights into the market’s size, growth projections, and key segments in the debt collection industry. Key Takeaways The B2B debt collection market is set for remarkable growth, projecting an increase from USD 4.94 billion in 2023 to USD 9.29 billion by 2030.
[EDITOR’S NOTE: I fully acknowledge from the start that this really has nothing to do with collections. But I have been sitting on this for a little while and I thought it was worth sharing, especially in the wake of all the great discussions at ARMTech last week.] A major insight from recent research suggests that users not just companies and technical experts are behind some of the most groundbreaking innovations.
Artificial Intelligence (AI) technology is reshaping the way businesses operate, engage with customers, and achieve growth in today's data-driven world. By enabling digital efficiency, AI empowers organisations to adopt innovative strategies that enhance competitiveness and resilience. At QUALCO, we harness the power of AI to turn data into actionable insights, helping our clients navigate complex challenges and foster sustainable growth.
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.
Late payments are the primary culprit for causing cash flow problems for businesses according to two fifths (41%) of UK small and medium-sized enterprises (SMEs) while making sure the bills are paid was an issue for a third (32%) and having access to emergency cash (21%) was also top of the list. Thats according to Allstar , one of the UKs leading business, EV and fuel expense payment companies, which researched the issues plaguing the nations small businesses.
The Court of Appeals for the Seventh Circuit has overturned a lower court’s ruling in favor of the defendant in a Fair Debt Collection Practices Act case, ruling that the defendants lack of knowledge about a prior dispute did not absolve it of its obligations under the FDCPA. The case highlights the interplay and confusion between disputes under the FDCPA and the Fair Credit Reporting Act.
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The Court of Appeals for the Seventh Circuit has overturned a lower court’s ruling in favor of the defendant in a Fair Debt Collection Practices Act case, ruling that the defendants lack of knowledge about a prior dispute did not absolve it of its obligations under the FDCPA. The case highlights the interplay and confusion between disputes under the FDCPA and the Fair Credit Reporting Act.
In todays tightening economy, businesses that put customer experience and digital transformation as their top priorities will not only survive, but grow. This means catering to customers by giving them options they want like text payments. Text billing and other customer-centric tactics (user-friendly workflows, preferred communication channels) boost payments to improve your bottom line among younger customers.
For consumer engagement in debt collection, many organizations and agencies have moved away from outbound calling but dont discount reaching out to consumers phones just yet! Text messaging (referred to as SMS or short message service) is becoming a favored method for consumers to receive business communications. Its common knowledge these days that people tend to ignore phone calls from unknown numbers and often throw away physical letters without opening them, but they will also delete unfamil
Why it matters:The data paints a concerning picture of Americans financial preparedness. As many struggle to build or maintain emergency savings, a growing number of people are relying on borrowing to cover unexpected expenses. With rising inflation and high interest rates, many find themselves in a precarious financial situation, particularly younger generations who are less likely to have significant savings.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
When you are pursuing a commercial collections lawsuit against a business debtor, it is easy to assume that payment is just around the corner. Unfortunately, this assumption can be wrong and this isn’t always the case. In Massachusetts, the mere act of suing does not guarantee youll get paid. This is why prejudgment attachments are important. At Law Offices of Alan M.
A total of 71% of organisations are already leveraging AI to enhance their financial operations, with adoption set to reach nearly universal levels within the next three years, latest KPMG research shows. Financial accounting and reporting account for the biggest AI use in finance, but the AI use is spreading across more finance areas. The findings result from two KPMG studies conducted in 2024.
BURLINGTON, Mass. (January 29, 2025) Finvi, (formerly Ontario Systems), a leading provider of compliance-driven financial technology solutions, today announced the retirement of Rozanne M. Andersen, Esq., a distinguished attorney who has played a pivotal role in shaping the company’s history, particularly from the legal and compliance strategy perspective.
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.
Today, the Consumer Financial Protection Bureau (CFPB) released two reports looking at national rental payment data from September 2021 to November 2024.
Jimerson Birr, a leader in business-focused legal services, is proud to welcome Taylor Hainley to their team of skilled legal professionals. Hainley began her journey with Jimerson Birr as a summer associate in 2023. Her meticulous approach to legal counsel and her ability to deliver customized, strategic solutions make her a vital addition to the team.
Our regular readers will no doubt be familiar with the one-to-one-consent and logically-and-topically-related requirements the FCC (under the prior administration) had tried to impose as a way to close what it had described as a lead generator loophole.
In a case that was defended by Martin Golden Lyons Watts Morgan, the Court of Appeals for the Tenth Circuit has affirmed a lower court’s ruling in favor of the defendant in a Fair Debt Collection Practices Act case, ruling that the plaintiff’s statements during a phone call with a debt collector did not constitute a dispute under the law.
Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.
In today’s complex financial markets, allegations of securities fraud can have significant consequences for both companies and investors. One of the most important tools in securities litigation is Rule 10b-5, which provides investors with a private right of action to recover losses caused by fraudulent conduct in securities transactions. This blog post will examine the essential elements of a Rule 10b-5 claim and key defenses available to defendants facing such claims.
Technology adoption and potential regulatory changes will be top of mind for collections agencies for 2025. Technology will help increase agency efficiency and increase collections. And potential regulatory changes could result in substantial changes to the collections landscape. Here is a brief look at whats in store for the collections industry in 2025.
The Court of Appeals for the Eleventh Circuit blocked a rule from the Federal Communications Commission (FCC) that was set to go into effect today interpreting the definition of “prior express consent” under the Telephone Consumer Protection Act (TCPA). The background: The case originated from concerns within the lead generation and telemarketing industries about the FCC’s 2023 rule, which aimed to impose stricter requirements on obtaining prior express consent from consumers.
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
Here’s the latest risk management guidance, published in December 2024, from B&N’s Attorneys Risk Management practice group. For ongoing updates, please see FinCEN Beneficial Ownership Information for details. BN – Tip of the Month – Corporate Transparency Act Enforcement Enjoined by Texas Federal Court – Dec 2024 The post Barron & Newburger’s Latest Risk Management Guidance appeared first on Barron & Newburger, P.C.
Banks are getting ready to sell billions of dollars in debt borrowed byElon Musks X, bringing Wall Street a step closer to exiting the nerve-racking deal that financed the social-media companys buyout. Morgan Stanleybankers have reached out to investors ahead of a planned sale next week of up to $3 billion of debt the bank and others such asBank of AmericaandBarclayslentto complete Musks 2022 buyout of the companythen known as Twitter, people familiar with the matter said.
The Court of Appeals for the Seventh Circuit has affirmed a lower court’s ruling in favor of the defendant in a Fair Debt Collection Practices Act and Telephone Consumer Protection Act case, ruling that the plaintiff failed to provide sufficient evidence to support his claims. The plaintiff alleged that a debt collector violated federal and state laws by calling his cellphone 240 times during an eight-month spam, attempting to reach someone else who used to have that number, leading to phy
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
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