Recently, I was sitting next to our new ACA International CEO, Patrick Morris, and I asked him how he was adjusting to our industry and the new job. He said something similar to this, “I’m learning a lot each and every day. There is so much to learn, but I’m having fun.”
So much to learn? You can say that again!
Welcome to “Acronym City!” I’ve used this term to describe our office many times during the past 20+ years. At IAT (nice acronym, huh!), we seem to find every way possible to create and use new acronyms. The collection industry as a whole is no different. We seem to have the propensity to acronym our way into a whole new language.
For fun, try reading this acronym list out loud without taking a breath:
COO, MSAE, PADD, EFT, ACH, AR, PPMS, DBA, ACA, NARCA, IAT, CT, IVR, ASP, ARM, KPMG, UCLA, LLC, FCRA,CDS, PLLC, ROI, PDF, CM, TM, PCI, PCI DSS, CFPB, FCC, FTC, TCPA, HIPAA, HITEC, HITECH, e-OSCAR, ACDV, FACS, CMMI, ISO, GLBA, PMI, SOP, CSS, ADAD, CRA, FCRA, GDP, CPI, FAX, COM, MAP, ARS, CFS, IFCCE, SQL, IP, CCAE, ESQ, MCE, CCAE, CCCE, PTA, NACS, CAC and CEO.
Phew, I’m out of breath just typing these down in my blog post!
Well, I sure hope someone gave Mr. Morris an industry dictionary defining the commonly used acronyms so that he could at least follow the discussions during his first association meetings. I can imagine a meeting going something like this:
“Today, at the ACA we need to speak with the CEO, COO of DBA and NARCA about the CFPB, FCC, FTC, TCPA, FDCPA, PCI, PCI DSS, GLMBA, FCRA and HIPAA. It might be a good idea to include IAT, CDS CSS, NACS, KPMG and a representative of UCLA in these discussions. Let’s postpone comments about HITEC, HITECH, e-OSCAR, and the effects of the GDP, CPI and ROI on the economies of the U.S.A., U.K. and even D.C. until next week.”
If you were able to follow the above dialogue, then congratulations! You’ve just earned an MBA from the ARM industry.
Good luck Mr. Morris learning the language of the ARM Industry. If you need help, remember I’m just a quick IM away.
This article was written by Dave R