Summary
In the late 1970s, collection "systems" emerged largely from the advance in credit card take-up, and the requirement for far greater efficiencies and effectiveness in debt management. Although these systems removed many paper based collection processes, they still offered very little functionality. Moving into the 1980s, people saw the emergence of power diallers, predictive diallers and intelligent diallers, and half way through the decade the author installed his first such example. Into the 1990s, collection software systems soon developed into "workflow" applications. Returning to the importance of data, the author believe that many lenders now take a different approach to collection strategy, although champion/challenger strategies remain a common theme.
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Extract
Evolution, and Revolution
As a practitioner with over 30 years experience in debt management, mostly as an operational director, I am seeing significant changes both in the tools that are used and in attitudes, on a scale that I have never seen before. When I started in this business on the early 1970s, most o...
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