Evaluating Collection Agency Success – Management Oversight of Collections
How does collection agency management oversees the debt collection process for
- Quality control
Management oversight for a standardized debt collections process could include:
- Recording every call
- Monitoring calls — deviations from the script are typically discussed and minimized
- Statistics are calculated to help the agency evaluate overall patterns
- No real attention is paid to individual claims
Management oversight for a flexible debt collection process could include:
- The collector’s overall effectiveness and effort on a claim
- Evaluation of the entire “custom” process
- Any new ideas which are identified throughout the debt collections process such as:
- Contacting the debtor
- Researching the claim
- Collection or negotiation tactics to be used
- Overall debt collection strategy
- Client communication
If you care about each of your claims, then you want to know how they will provide personal management attention to each:
- Does the agency actually evaluate individual claims?
- What is the management process for evaluating an individual claim?
- How often is each claim reviewed?
- What is the process for ensuring review suggestions are implemented?
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