Collection Industry Resources: Networking

Collection Industry Resources

Updated September 2020

Between compliance, office management, collection techniques, and the other concerns that go along with running a collection agency, it can be hard to keep up with industry changes and new technologies–or even regulation changes that could get you into hot water. What are some ways a busy ARM professional can stay informed? PDCflow took a closer look at many of the resources available to help your agency run efficiently. One of the best resources (and today’s topic) is other professionals.

Networking

Networking has been, and likely always will be, one of the best ways to grow your employee professional development

  • Having a group of people who understand the challenges you face can help you socially. 
  • Knowing people that can help you accomplish career goals will help you professionally. 
  • Being in a position to help others accomplish their goals can help you feel good about yourself and create reciprocity (which may come back to help you down the line). 

How do you meet the people that will make up your professional network?

Collection Industry Resources: Association Events
One of the best ways to meet like-minded ARM industry professionals is to attend trade shows and conferences. There is simply no substitute for one-on-one or small group interaction. There are many associations that provide membership and conference attendance opportunities. Find the unit or chapter for your state, or start by attending a national show.

ACA International Convention & Expo – This national show attracts professionals from all over the United States, and provides ample opportunity to meet peers, as well as a chance to learn about new technologies that can help your agency run more efficiently.

California Association of Collectors Annual Conference – The oldest collection association in the United States’ yearly conference discusses California-specific regulations, topics and struggles. Held every fall, this is just one example of the regional associations that can help you stay current with local collection issues. 

Receivables Management Association International’s annual conference - This show is held early each year in Las Vegas. Registration for the 2021 show opens October 1, 2020. RMAi expects more than 1,100 attendees from businesses all across the industry, including law firms, agencies and creditors. Network, learn and fulfill certification requirements all in one event. 

National Creditors Bar Association - Each year, the NCBA holds a spring and fall conference. The conference is designed for attorneys who practice creditors rights law to network and discuss the trends and challenges of the industry. 

insideARM - insideARM works to provide unique ways for industry professionals to network. They offer a Strategy & Tech event to keep attendees up-to-date on the latest digital accounts receivable strategies and technologies. Each December, they also offer a Women in Consumer & Commercial Finance conference, to help women in the industry thrive and connect.

Collection Industry Resources: Online

Between the cost and the time commitment, sometimes conferences are not an option. Besides, you need a way to stay informed year-round. There are many ways technology can keep you in the loop and in touch with other debt collection professionals.

LinkedInLinkedIn is a great way to keep in touch with peers in a professional setting. Connect with peers or vendors you meet at shows. The items they share will show in your LinkedIn feed, keeping you up on the latest industry news. To get the most out of the social networking site, check out groups created specifically for debt collectors, such as Credit and Collections or Credit and Collection Professionals

Some of your merchant service providers or collection software providers may even have private groups you can join, where you can interact with others that use the products. This can help you get the most out of the software you invest in.

Twitter – While not as personal as LinkedIn, Twitter can help you stay connected with the world around you. Many industry influencers and brands have Twitter accounts. This can make it simple to see interesting news and blog articles that you may not have known about otherwise.

Association Group Emails or Message Boards – Many associations have message boards or email groups you can take part in once you have registered as a member. This is a more targeted way of keeping in touch with those you have met at shows. They are also a great way to ask for peer advice on how they handle specific situations in their own agencies.

The articles like those published here often interview industry leaders and draw from their advice to provide educational material. To stay informed and learn about more professionals to connect with and learn from, subscribe to the PDCflow blog.

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– ABOUT THE AUTHOR –
Hannah Huerta - PDCflow Marketing Specialist
Hannah Huerta, Marketing Specialist

Hannah Huerta is a Marketing Specialist at PDCflow. She creates content for the accounts receivable and payment industry.

LinkedIn - Hannah Huerta

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