The above questions might seem ridiculous and far-fetched, but do you unknowingly do this to your business? Take a walk around your office and carefully look at the tools you give your employees to accomplish their tasks. Are you too slow to adopt advanced technologies? Do you maintain policies and procedures that conflict with newly enacted laws and regulations?
Imagine operating a collection agency today without these tools: telephones, computers, predictive dialers, broadcast messaging, call recording, bulk mail and skip tracing tools.
How long would your agency remain in business if you didn’t carefully monitor the almost endless list of laws, rules and regulations that govern our industry? I find it interesting that even today we encounter collection businesses that don’t utilize all of the above mentioned tools and resources. The good news is that when these slow adopters of modern tools truly listen to our message, they quickly understand the need to stay current with technology.
I’ve visited with collection groups that haven’t upgraded the version of their predictive dialer for many years. I understand the mentality of “if it isn’t broken, then don’t fix it,” but if this is applied to the software running your dialer, you are unintentionally exposing your company to unnecessary risks.
Dialer companies carefully watch the new regulations. Adjustments are made to their software to keep it compliant. In addition, software version updates almost always implement new productivity enhancing tools. Just like the software on your smart phone should be upgraded regularly, the software on your dialer should be updated every one or two years.
The collection industry is hyper competitive, so why limit your ability to succeed by refusing to adopt new technologies or being slow to implement the latest dialer software versions? Furthermore, you are sitting on a ticking bomb if you choose to ignore the ever changing regulatory landscape. Place yourself in a position of success by upgrading technologies, keeping current with laws and regulations and running your current office productivity tools on the latest versions.Dora The Explorer Moonwalk
You really wouldn’t use boxing gloves to wash and put away your grandmother’s antique china. Don’t make this type of mistake in your business!
This article was written by Dave R