Digital communications are a huge part of business and customers expect you to use modern channels like email and text — even when it comes to sending and signing paperwork, or taking a payment. Your company’s communication and esignature software should come with flexible workflow management tools that do everything you need them to, all in one place. This way, …
5 Debt Collection Call Center Script Questions Answered
Most debt collection agencies use collection call scripts but how do you know you’re getting all you can out of yours? We reached out to several experts in the industry for their advice on using call center scripts. They discussed the pros and cons of using call scripts, elements they should contain, and the important link between call scripts and …
Organizational Management: Tools for Better Productivity
Organizational management is a challenge for most small business owners. It requires balancing team management and customer satisfaction while working toward company growth. This often means: Handling client contracts Monitoring payment collection efforts Dealing with compliance issues Keeping up with personnel and administrative tasks Managing other day-to-day office operations What is Organizational Management?Organizational management is the act of planning, organizing, …
Steps to Create a CFPB Complaint Process for Agencies
The Consumer Financial Protection Bureau (CFPB) is an independent federal agency responsible for maintaining the safety of customers who interact with financial businesses. Because they create and enforce the regulations that govern the credit and collection industry, debt collection agencies know this organization well. But do you know the best way to handle a CFPB complaint about your business filed …
Managing a Multigenerational Workforce: Key Tips
Effective team management transforms your office. It can create an environment where a multigenerational workforce comes together to make a winning team. But managing different generations in the workplace isn’t always easy. A good manager must take into account the backgrounds and experiences each employee brings to their work — experiences that change with every generation.5 Generations in the WorkplaceEach …
Send Multiple Documents in One Request with PDCflow
Transform your company’s document management and esignature processes. Now you can send multiple documents in a single request, saving time and boosting efficiency for your business with PDCflow! Streamline essential business communications — contracts, agreements, payment requests, etc. — to reduce administrative overhead and enhance your customer experience.Benefits of Sending Multiple Documents in a Single MessageMany organizations send multiple documents …
Simplify Operations With Business Process Automation
Do you wish your business could accomplish more tasks with fewer tools and resources? Using business process automation to manage client contracts, customer agreements, and payments will simplify the way you work. Old manual processes slow down operations and make it harder to juggle projects and internal workflows. Embracing business process automation is the best way to speed up deals …
Dispute Resolution Processes for Debt Collection
What happens if the consumer you speak to doesn’t agree that they owe a bill or debt? What if a consumer leaves your company a bad review on the internet? What policies and procedures does your debt collection agency have in place to ensure compliance and a dispute resolution process? In the past, PDCflow partnered to cover a California Association …
Automated Reminders for Higher Open Rates and Engagement
PDCflow is excited to announce Automated Reminders for Flows! Don’t let unfinished tasks slow you down. Use Flow Automated Reminders to keep business moving. Automatically send a follow-up email or text message to customers who haven’t finished your request. This simple feature can: Get 25% more people to complete essential business requests Increase the number of people who open your …
Send Bulk Messages to Scale Your Business
Sending digital communications to customers has a lot of advantages. It’s fast, easy, and creates a detailed record for your company and the recipient. As your business grows, sending bulk messages helps you hang onto these advantages without sacrificing more time and effort. Bulk Message MeaningSending bulk messages means following the practice of creating and delivering personalized messages to many …
Fully Branded Contract, eSignature, and Payment Requests
Increase customer recognition by sending emails and requests that fully reflect your brand. With PDCflow’s latest customization features, your company can send secure communication requests (Flows) and deliver them via emails—all using your business’s verified domain, logo, brand color, and brand statement. Fully white-label the Flow requests and customer emails you send via PDCflow for just $9 per month. Logo: …
3 Proven Tips to Reduce Outstanding Invoices and Avoid Late Payments
Running a business comes with many internal and external concerns, from training and team management to focusing on brand reputation. But if your company has excessive outstanding invoices or delayed payments, cash flow will stall and the health of your business will suffer. Reduce late payments from customers, keep revenue flowing and free yourself up to focus on other aspects …
Guide to Contract Elements for Entrepreneurs
Contracts are essential for companies and customers who need to agree on a deal. But they’re only effective if all the elements of a contract are included in the document. Properly structured agreements protect everyone and withholding elements of a contract could invalidate the deal.What are the Elements of a Contract?Contract elements are the different requirements that make up the …
10 Examples of Great Debt Collection Websites in 2024
In the debt collection industry, if you haven’t updated your website to meet today’s consumer expectations, you’re probably already losing revenue. A user-friendly debt collection website is a necessity if you want to stay competitive and effectively engage consumers. The Consumer Financial Protection Bureau’s (CFPBs) Regulation F attempted to clarify many aspects of compliant debt collection like text messaging and …
Skip Tracing Tools and Techniques for Collections
Between 2017-2020, PDCflow partnered with the California Association of Collectors (CAC) to share in-depth advice on running a successful, compliant debt collection agency. The subjects, ranging from day-to-day operations such as best practices for telephone communications with consumers to high-level topics like creating debt collection settlement campaigns, first appeared as the curriculum of the CAC’s Collection Boot Camp courses. Our …
Protect Patient Data with HIPAA Compliant eSignatures
Healthcare organizations that handle patient data must follow strict rules to keep this information private and secure. If you are a medical office, handle medical billing or insurance, or manage health information in any other way, you should already understand what HIPAA compliance entails. But in an increasingly digital world, sending medical records, collecting form authorizations, and other office processes …
Data Protection and Privacy Concerns in the Remote Work Era
This article was originally written by Privacy Attorney, Leslie Bender and published in October, 2020. It has recently been updated and republished. As the number of folks working from home has skyrocketed during the pandemic, the effects of being more digitally connected have been both good and bad. Reports of suspected attacks by cybercriminals to the Federal Bureau of Investigation’s …
PDCflow Payment and Communication Solutions Earns CardRates Editor’s Choice™ Award
We are excited to announce our recent feature on educational credit card website CardRates! In the article, PDCflow was recognized with the Editor’s Choice™ Award for innovative payment and communication solutions. PDCflow enables secure document transfers and payments, esignatures, and photo and file uploads. Features are available through our user interface or API integrations, so your company can take advantage …
Team Leadership: Seven Steps to Lead a Winning Team
The California Association of Collectors (CAC) conference and expo held each year in October features some of the best leaders in the credit and collection industry. Many of the sessions center on best practices for successful agencies, but some sessions provide unique advice which can be applied to all aspects of personal, professional and team leadership communication, no matter what …
Common Contract Types for Small Business
Companies have countless interactions with customers, employees, vendors, and stakeholders in the course of business. Any time a company makes a deal with one of these entities, it’s important to use the appropriate type of contract to protect the parties involved. Some business contracts are long and detailed because they need to cover all the specifics of a deal. Others …
Hiring Process Steps to Build a Strong Debt Collection Team
This post was originally written by Mary Shores, agency owner of Midstate Collection Solutions, and was recently updated. It’s no secret that the hiring process has become a challenge in most industries, and the debt collection industry is no exception. We spend time writing job descriptions and interviewing, only for our candidates to change career paths. Or, we choose a …
Navigating Federal and State Call Recording Laws for Debt Collectors
Each year, the California Association of Collectors (CAC) provides insight to debt collection professionals through a series of educational courses. They touched on topics ranging from responding to disputes to tips for creating compliant collection letters, to best practices for handling call baiting. PDCflow has partnered with the California Association of Collectors (CAC) in the past to cover many operational …
Feature Release: Speed Up eSignatures & Payments with Multi-Recipient Flows
Is your business wasting time waiting on approvals and chasing payments? PDCflow’s latest enhancement, Multi-Recipient Flows, simplifies your operations by allowing you to send Flow requests to multiple people at once. Delays in contract signings, payment tracking, and secure document exchanges cost time and money. With this enhancement, our technology now supports: Faster approvals and deal closures: Get esignatures and …
Expert Tips for Creating Debt Collection Letters
Debt collection letters are a central part of a collection agency’s compliance management system. However, the California Association of Collectors (CAC) 2017 Collection Boot Camp panel, Courtney Reynaud, Shawn Suhr, Kelly Parsons-O’Brien (agency owners) and June Coleman (attorney), recognize the potential liabilities inherent in drafting collection letters. Their combined expertise and Coleman’s legal know-how as the CAC’s MAP attorney provided …
Essential Software Features for Digitally Signed Agreements
A signed agreement from a customer is an essential part of many business workflows. With the shift in recent years towards modern tools, more companies are using digital signature software to send and track their signed agreements. Is your company taking digital agreement signatures through email and text for faster workflows and higher customer satisfaction?What is a Signed Agreement?A signed …
How To Create a Credit Policy and Collection Procedure
The blueprint most businesses use to collect on accounts receivable is called a credit and collection policy. The guidelines are typically broken into two sections: a credit policy and a past-due collection procedure. The framework can be as detailed or as broad as is necessary for your office. Providing this direction to your employees is essential. Unfortunately, many businesses don’t …
Digital Contract Management Best Practices
What is contract management? Contract management is the process of managing contract creation, negotiation, execution, and analysis to maximize operational and financial performance at an organization. However, that process will look drastically different for a large corporation with the luxury of a contract management team versus a small business managing contracts with just a few employees. What does contract management …
Guide to Credit Card Chargebacks for Collection Agencies
Every business comes with obstacles. A high-risk operation like a debt collection agency is full of especially unique team management and compliance challenges. Along with industry-specific rules, collection agency owners and managers must also comply with Regulation E, understand PCI compliance rules, and maintain a compliance management system as a whole. While balancing these responsibilities, agencies need to keep a …
Consent Management for Electronic Communications: Best Practices for Creditors and Collectors
Regulation F and reaching consumers through electronic communications is now a reality. Debt collection agencies have prepared as best they can and have implemented new compliance policies and procedures. But what about creditors? All creditor clients that use a third-party agency should know about Regulation F. Are you (and more importantly, are your clients) ready for data maintenance and handoff …
Guide to Emailing Model Validation Notices
If your debt collection agency doesn’t use email to talk to consumers, you’re never going to reach your full recovery potential. Phone calls are less effective than ever in making consumer contacts and traditional mail can be costly. Sending the model validation notice by email: Encourages more consumer engagement Is a compliant option Saves money Is faster than mail Still, …
Frequently Asked Questions on ACH Payment Processing
Offering to accept ACH payments is an effective and low-cost method to enhance convenience for your customers. And, expanding payment processing options to include ACH can significantly increase your business’s revenue. However, on the operational side, processing ACH payments and reconciliation differ significantly from handling credit card transactions. Here are some of the most frequently asked questions merchants have regarding …
High Risk Merchant Account Underwriting: What to Expect
The underwriting process for a new merchant account can be invasive and exasperating for business owners. This is especially true of those in high risk industries like debt collection. Immoral or against-regulation activities by some people in the collections industry have given legitimate agencies a bad reputation. Because of these untrustworthy few, merchant service providers and banks view high risk …
Payment Types and Channels: Pros and Cons for Businesses
Giving your customer more choice and an easy-to-use payment system can remove most of the objections that cause your business to lose out on money. These choices can mean types of payment or a preferred payment channel. Credit card, ACH and cash payment types aren’t enough on their own. Your business should also have: An online payment portal so customers …
Prevent Card Not Present Transaction Fraud and Chargebacks
EMV, better known as credit card chip technology, has revolutionized what it means to take a secure card payment during a card present transaction. The computer chip embedded in many new credit cards makes cloning card data much more difficult, deterring fraud. But what advancements in technology have been created for merchants in a card not present environment? How can …
Accounts Receivable Collections Best Practices: Handling Late Payment Excuses
Every employee will encounter late payment excuses in accounts receivable collections. Greg Ruffino, a successful coach and trainer in the accounts receivable industry, is well-versed in the difficulties a consumer’s payment stalls and objections can cause. Ruffino shared his knowledge on the subject, including common excuses for late payments consumers give and effective debt collection techniques to overcome them.Payment Excuses …
Guide to Friendly Payment Reminders for Better Cash Flow
Payment reminders are the simplest, most flexible solution to reduce late (or delinquent) payments. So why aren’t businesses taking full advantage of this easy, effective tactic? Some business owners are nervous about new software that requires extensive training to launch. Others are still operating on manual or paper reminders that don’t reach customers before their payment due date or come …
PDCflow Releases Text Message Service API
Text messaging with PDCflow has never been better! For two decades, our company has provided compliant, reliable, affordable tools that make it simple to take payments, send documents, get esignatures, and more. Now, PDCflow has enhanced our software to include text message API services. This allows any company to take advantage of our white-labeled texting solution for better customer communication …
How to Plan for Your Best Tax Refund Debt Collection Season
For many consumers, a tax return is the perfect opportunity to take control of outstanding debts. That’s why tax refund season is one of the busiest times of the year for debt collection agencies. Does your agency take advantage of tax refund season to boost revenue and close more accounts? Lots of companies might want to establish a tax time …
Chargeback Prevention Tips for High Risk Businesses
Your staff works hard during the busy tax season and throughout the year to settle past-due accounts and collect payments for your debt collection agency. Without measures in place to prevent chargebacks, though, many of your payments could end up being disputed by consumers. Agencies and other high-risk businesses can go months or years without experiencing the stress caused by …
Maximize Efficiency with Modern Payment Management Software
Payment management software should serve two main purposes for a business – improving a customer’s experience and improving office processes. The right payment management system: Offers multiple easy ways for customers to pay Has intuitive self-serve channels (like online payments) Reduces manual processes for staff Simplifies payment compliance Streamlines payment reconciliation Better CX With Omnichannel Payment Management SoftwareOmnichannel payment management …
A Guide to Lawyer Trust vs Operating Accounts
As a law practice, it’s important to follow rules for how to handle a client’s money. This means keeping funds separate through different lawyer trust accounts and operating accounts. Using multiple accounts to manage these finances can be tricky. It’s essential to have strict financial management practices and payment software that can handle multiple lawyer trust and operating accounts.What is …
A Strategic Approach to Debt Settlement Campaigns for Tax Season
Debt settlement campaigns are initiatives where debt collection agencies offer a discount to consumers to boost collection on old or unresponsive accounts. Tax refund season is the best time to consider a debt settlement campaign within your debt collection agency. A debt settlement campaign can help your agency: liquidate inventory more quickly increase revenue for you and your clients increase …
Switch from IVR Payments and Boost Customer Satisfaction
Interactive Voice Response payments (IVR payments) are a common choice for companies that want to speed up payments and reduce staff workloads. Freeing up employees from menial tasks is the fastest way to optimize your office but is there a better way than IVR? Companies often turn to their IVR systems as a way to take payments over the phone …
Understand and Develop Conversational Intelligence in Debt Collection
“Privacy works flexibly. It’s scalable. And it’s unique to every situation we’re in.” This is a quote from Leslie Bender, Senior Attorney of Health Privacy and Consumer Financial Privacy during her presentation at Collector Live, a yearly event hosted by Mike Gibb of AccountsRecovery.net. The virtual conference for frontline and upper management debt collectors hosted several experts including debt collection …
Why Accept eCheck Payments? How They Work
Does your business still take traditional paper checks? Waiting for payments in the mail makes it harder to reconcile accounts, stalls work, and impacts cash flow. Echeck is a faster, more modern way to take payments. If your company wants to speed up payment cycles and make paying easier for customers, accepting eChecks is the way to go.What is an …
Use Root Cause Analysis Methods to Improve Policies and Procedures
Courtney Reynaud, President and CEO of Creditors Bureau USA, has found success in her agency with careful attention to policies, procedures, and work instructions. But, she didn’t always have such a strong compliance management system. Before her office focused on these practices, she noticed blame would often be placed on a single employee or a client. Reynaud explained that blaming …
How to Use QR Code Payments for Your Business
QR codes are everywhere. They help people look at restaurant menus, access corporate websites, or even make purchases. Since the pandemic began, QR code payment usage has climbed, giving people a simple, fast way to access information or take action. QR code payments are good for more than just retail environments. Many businesses have started to adopt QR codes to …
Automate and Thrive by Setting Up Recurring Payments
A lot of businesses don’t know how to set up recurring payments that make sense for customers and still bring in revenue. The most effective recurring payments balance the parameters of payment schedules, business needs, and customer preferences. The first step to successful scheduled payments is to know how, why, and when to accept recurring payments. What is a recurring …
Steps to Create A Compliance Management System
The CFPB expects all debt collection agencies to have a compliance management system (CMS) in place during operation. Courtney Reynaud, President of Credit Bureau USA, and the other California Association of Collectors Collection Boot Camp panelists, understand how overwhelming creating a compliant collection agency can be. “With everything else we have to do to run a successful business, compliance is …
Looking Beyond Fees: Evaluating Payment Processing Services
Companies often shop for payment processing services based on cost. For many businesses, especially those in regulated industries, using this criteria may not lead you to the best payment software for your company. This is because not all payment processing services are the same. Some payment softwares are designed with specific industries in mind and don’t offer the payment processing …
Are your Recurring ACH Payments Compliant?
Many consumers prefer to pay large bills in installments through ACH payments rather than a credit card. Offering this option in your business will decrease consumer complaints and increase your overall receivables. But just as with cards, it’s important to ensure the recurring ACH payments you accept are compliant.Understanding Recurring ACH Payment ComplianceComplying with every regulation that applies to your …
Digital Customer Journey Mapping to Improve Payment Experience
In debt collection, the root to higher payments and more success closing accounts is helping consumers solve their problems. If you don’t know the struggles they face, however, you can’t achieve this goal. Understanding the digital customer journey consumers take during their payment experience can help your agency understand where you’re succeeding and – more importantly – where potential payments …
Learn How to Set Up ACH Payments and Boost Your Business Now
ACH payments are cost-effective, easy to use, and offer customers more flexibility and choice. If businesses like using ACH for all of these reasons, why put off implementation? Some companies simply don’t know how to set up ACH payments. Don’t let setup be a barrier. Make payments more convenient for you and the customers you serve.Why Setting up ACH Payments …
Setting Up a Successful Debt Collection Validation Notice Email Campaign
Most modern debt collection agencies are starting to use email for collection, or have it on the roadmap to implement soon. Consumers like the convenience of email and companies prefer advantages like: The cost savings of using email compared to traditional mail The possibility to reach consumers you otherwise wouldn’t Faster collection on accounts Even with the positive aspects of …
From Checks to B2B ACH: The Digital Shift
Time is money. This is especially true for financial transactions between companies, where delays cause significant losses and missed opportunities. By eliminating the hurdles of traditional payment methods, business-to-business Automated Clearing House (B2B ACH) payments create a swift, secure way to navigate modern business operations.Business to Business ACH Debit TransactionsB2B ACH refers to electronic payments made through an automated clearing …
Bulk Messages Made Easy: PDCflow’s Flow Technology
Have you ever used mail merge to send out lots of personalized emails at once? Now you can send bulk messages with Flow from the PDCflow app instead. Send out thousands of secure communications and payment requests at one time. Do you have a list of customers who all need your company’s updated terms? Or does your company policy for …
Transform Your Business with Embedded Payments
Embedded payment technology provides the perfect channel to streamline business operations and enhance the customer experience. In this guide, learn how adopting embedded payments can be transformative for your business.What are Embedded Payments?Embedded payment systems should be available anywhere hassle-free transactions could enhance your company’s user experience. Embedded payments integrate payment processing into a software application or a platform. Unlike …
A Checklist for Recurring Payment Processing Software
No matter what business you’re in, taking payments brings more regulations you must follow. For instance, companies that use recurring payment processing services need to maintain Regulation E compliance. But how do you know when Regulation E applies to a transaction within your business? How can your payment processing software help?Recurring EFT Payments and Regulation EWhat is Regulation E? It …
PDCflow Expands ACH Processor Options
PDCflow now offers an extensive list of ACH processing options for merchants. Through a recent integration enhancement, companies who accept ACH payments through PDCflow have access to more choices than ever before when it comes to ACH processors. Businesses may choose from any of the following check processors for their PDCflow ACH payments: Payliance ACHWorks VeriCheck (VCI) RP Solutions CheckGateway …
Organize a Successful Working Group for Your Business
For self-sufficient professionals, it can be hard to share workloads. This mindset can sometimes be positive, but more often, this thinking leads to forgotten tasks, overlooked details, and staff burnout. Working groups are a more efficient way to solve difficult problems or finish big projects.Working Group DefinitionA committee or group of people appointed to study and report on a particular …
How To Market a Debt Collection Company: Expert Advice
Marketing any business can be a challenge. Marketing in a niche industry such as debt collection can be even more difficult. Sometimes it’s hard to reach prospective clients. Sometimes it’s because you have a shoestring budget to cover your efforts. Yet, marketing your debt collection services is important to your agency’s growth. How should you focus your debt collection marketing …
Storing Credit Card Information Risks and Best Practices
With so many self-serve and digital payment options available, storing credit card information is an important consideration for businesses. Is your organization storing credit card information safely? Do you know the requirements you need to follow? Learn about risks, requirements and best practices of storing customer credit card information.Why is Storing Credit Card Information a Must for Digital Payments?There are …
Credit Card on File is a Game-Changer for Businesses
Keeping a credit card on file is a convenient best practice for companies that know they will need to take payments later, once an order has been fulfilled or work is completed.What Does Card on File Mean? Card on file (COF) transactions allow companies to capture and store payment details from customers. The details are securely stored so the business …
How To Prevent Data Breaches: Three Steps
Does your company know how to prevent a data breach? One thing the Equifax and Marriott data breaches (and countless others) have shown is that customer data won’t stay safe if a business isn’t protected. Data breach prevention is an important way to protect your customers and your brand, but it also helps your company remain financially stable. Data breaches …
What is Regulation E Electronic Signature Compliance
Consumer habits are hard to change. Think about when you first were introduced to online banking or online shopping. Were you hesitant? Now, these actions are commonplace. Just like online shopping, electronic signatures have become standard for payment authorizations, loan contracts and medical documents. Companies can take customer communication preferences into account, gather esignatures through a text or email, and …
Data-Driven Debt Recovery: A Proven 5-Step Email Strategy
Email for debt collection is more popular than ever and there are good reasons why. A thoughtful debt collection email strategy: Makes right party contact faster and easier Drives more traffic to self-serve channels, freeing up employees to do other work Saves money on operating costs by reducing postage costs Gives you more visibility into consumer engagement In an era …
Cash Flow Positive: The Ultimate Compass for Your Small Business
In the vast ocean of business, being cash flow positive is your ultimate compass. Having cash to spend gives you more options–to expand and grow, to invest back into the organization or to share with stakeholders. Cash flow statements, profit and loss statements and other financial management reports steer these financial decisions your company makes. Explore what cash flow reports …
Text and Email for Debt Collection: Reaching Consumers Where They Are
In a recent PDCflow sponsored webinar on accountsrecovery.com, a panel of digital collection experts sat down to discuss the differences they’ve encountered in text messaging and email for debt collection. Shawn Farris, Brandy Rouselle, and Chris Repholz discussed which channels they each prefer and the strengths of each. They also covered how using SMS messages together with email for debt …
Profit and Loss Statements for Business Planning and Growth
Businesses want to make money. But how do you know if sales are good enough to keep your company profitable? There are many different financial reports organizations use to track performance. One of the most common–the profit and loss statement–lets companies: Monitor how the organization is performing and better understand profitability Assess expenses and profit trends Plan for future growth …
Small Business Financial Management Terms and Tips
Small business financial management helps business owners, operators and managers know where money is being spent and how much profit is coming in. Without a background in accounting or bookkeeping, it can be hard to know the best way to manage small business finances – or even to understand the common terms, reports and tactics used. This glossary will help …
Track Payment Performance at a Glance with PDCflow Insights Reports
PDCflow is excited to announce the launch of our brand new Insights Report. Insights reporting is the free, enhanced reporting tool from PDCflow designed to help managers, executives, and other decision-makers better understand their organization’s payment processing.Through the Insights Report, anyone who needs access to reporting and analytics can: track payment performance monitor trends at a glance sort and view …
4 Pillars of Empathetic Communication in Healthcare Finance
Since the beginning of the COVID-19 pandemic, “empathy” and “compassion” have been buzzwords in almost every industry. People are craving the human connection and understanding that comes with empathy, which is why now more than ever, understanding compassionate, empathetic communication is extremely important. For organizations that collect healthcare payments, having empathetic communication skills should be part of your company policies. …
Payments Compliance: What to Know and How PDCflow Helps
There are many ways businesses must adhere to payment compliance. What’s more, it can get complicated to keep track of the requirements to follow, even though violating this payment processing compliance could lead to litigation or crippling fines. For many companies, the simplest solution is to rely on the software you use to help you reach your compliance goals. Here …
Hosted Payment Page Options from No Code to Low-Code
Customers expect companies to offer online payments. If your organization doesn’t accept online payments (or your online page is confusing, outdated, or doesn’t match your website) your business is losing money. Hosted payment pages are now a must for any company that wants to: Stay competitive Make paying easier for customers Save staff time by reducing manual work Bring in …
Creating Credit Terms for Customers
Companies who sell high dollar products, or offer professional services, usually ask for payment after work is done or goods are delivered. Establishing clear credit terms helps customers know what to expect during billing and teaches staff proper procedure when collecting on both B2C and B2B payments.Definition of Credit TermsCredit terms can be defined as the guidelines your company creates …
Payment Workflow Examples to Increase Business Cash Flow
Payment workflows (like sending customer invoices with payment requests) are an integral part of your business sales cycle and customer experience. Many companies that accept B2B payments – or provide their goods and services before collecting payments – need to think about the full customer journey, including billing workflows.What are Workflows?A workflow is any repeatable process your business uses to …
What Does PCI Compliance Mean for your Business?
Do you know what it means if your payment processor has told you they maintain most of the burden for PCI DSS compliance? Does this change the rules your business must follow or what PCI DSS compliance means to you? While a PCI compliant processor might offer features that ease merchant responsibility, you are still expected to take steps to …
How To Take Secure Payments Over the Phone
Many customers still want the option to make a payment or ask questions to a live customer service agent. After all, a conversation with an employee is often the easiest way to resolve an issue. How can organizations take payments over the phone and still keep payment data secure?SURVEY SAYS:“Nearly 7 in 10 respondents (69%) said talking to a live …
What to Know About ACH Return Codes
Accepting Automated Clearing House (ACH) payments can provide added convenience to customers during the payment process while increasing revenue for your business. Unfortunately, no payment method is without hurdles. In the case of ACH payments, the most common hurdle to overcome is understanding and addressing ACH codes for returned payments. There are many ways an ACH transaction might get returned. …
Billing Processes: Which Option is Best for Your Business?
An organization’s billing process can depend on the goods and services offered and the audiences served. Your company should follow best practices based on industry but there will always be room to customize and improve workflows. Reviewing the billing tactics and tools your business uses will: Save money through more efficient processes Save staff time following up on unpaid invoices …
Call Center PCI Compliance: Keeping Agent Payments Safe
For many businesses, good call center agents are the best way to increase revenue collected and close more accounts. The front line agent’s job is to provide a great customer experience and in many cases take payments. This means contact and call centers must comply with PCI requirements.Phone Payment Risks for Call Centers Most call centers use some form of …
What is Accounts Receivable (AR) Billing?
Most business offices have a dedicated department that is responsible for their AR billing processes. The system each company follows can be as simple as sending a bill and hoping it gets paid, or as complex as a series of payment notices, late fees and other prompts to decrease days sales outstanding (DSO).What is Accounts Receivable (AR) Billing?What is accounts …
6 Main PCI DSS Compliance Goals
Payment Card Industry (PCI) rules were created to ensure businesses are providing a safe digital environment for consumers to make credit card payments. Following these PCI guidelines keeps you in compliance with industry rules and also keeps you and your consumers safe from data breaches. With a larger number of employees now working remotely, understanding the basic PCI goals and …
Successful Debt Collection Techniques to Overcome Objections
Dealing with stalls and objections during debt collection is just part of the job. But there’s a lot more to debtors than a simple unwillingness to pay. Kelly Parsons-O’Brien, outgoing president of the California Association of Collectors has spent years in the business learning not just how consumers stall, but why. In a webinar put on by the CAC, she …
How to Reduce Past Due Invoices
When a customer pays late, it may seem like no big deal. However, if you make a habit of accepting past due invoices from customers, you’ll start to notice it in your bottom line. To keep your business healthy, you should minimize how many overdue invoices your company has open at one time. How to Collect More Past Due InvoicesFor …
7 Small Business Payment Options to Keep Customers Happy
Is your small business wasting employee time on things like follow up calls on unpaid bills? If you want to expand, you need to accomplish more with a small staff and small business payment options that let your team do more with less.Small Business Payments: Reasons for Late/Unpaid BillsSmall businesses need to collect every dollar possible. That’s why late payments …
PCI DSS Compliance Takes Year Round Commitment from Your Payment Processor
When you pay for goods or services online, you expect businesses to follow compliance measures to keep your personal information secure. PCI DSS compliance (Payment Card Industry Data Security Standard) gives consumers this same confidence in your organization. Customers need to know that every time they make a credit card payment, their information is being safely handled. One slip-up in …
Key Accounts Receivable Definitions and Terms
Managing the money customers owe your business is a vital – often overlooked – part of maintaining a healthy business. If your accounts receivable (or billing) department could use some attention, start with the basics. Here’s a glossary of accounts receivable definitions and terms every AR billing professional should know.DEFINITION OF ACCOUNTS RECEIVABLEMoney due to a business or seller for …
PDCflow Releases Card Verify for Credit Card Transaction Authentication
Validating credit card information before a transaction is submitted can eliminate failed payments. To help merchants ensure card data is accurate before a transaction is processed, PDCflow announces the new Card Verify feature. Card Verify BenefitsCompanies with too many failed credit card payments lose out on revenue and waste staff time contacting customers for alternative card numbers. This is especially …
Digital Operations Impact on Debt Collection, from Team Structure to ROI
Justin Franklin, Vice President of Global Strategy and Execution at Cedar Financial recently sat down for an interview with PDCflow’s Dawn Updike. They discussed how digital operations impact team structures and revenue, measuring ROI and more.Like other Accounts Receivable professionals, Franklin found his career by accident when he accepted a collection job after college in 2005. He has a wide …
Key Features for Secure Payment Processing
In an increasingly digital world, payment processing security features in business shouldn’t take a back seat. Are you offering secure payments to your customers? Here are some of the basic features that you need for secure payment processing.PCI ComplianceBecause sensitive credit card data is so valuable when committing identity theft, businesses that take payments online are often a target for …
Business Team Structure for Digital Billing and Payments
New software opens the door to easier workflow processes and simpler daily tasks. This can impact team structures and job titles or even create new responsibilities – like making sure tools are working right and providing a good return on investment. Right now, the most impactful way people are using tech in business is with digital communication. Channels like email …
Credit Card Fraud Prevention Tips for Online Payments
Self-pay options increase revenue and improve the customer experience. But online payments can attract scammers too. Following basic credit card fraud prevention measures keeps both your business and your customers safe. Depending on the online payment portal your company uses, preventing credit card fraud can be mostly automated. However, your business should still understand these basic best practices on how …
2022 Year in Review: Partnerships, Customer Stories, Product Updates, and Thought Leader Interviews
PDCflow has worked hard throughout 2022 to offer the best possible payment communication software possible to our customers. With the new year approaching, we wanted to give readers another chance to catch up on our latest partnerships, product enhancements, educational content, video interviews and accomplishments.PDCflow Partnerships and Product EnhancementsThis year, our teams at PDCflow did a great deal of work …
The Payment Ecosystem Explained: How Your Business Gets Paid
All companies take payments but many don’t understand how the payment industry works behind-the-scenes. The digital payments landscape is complex, and with new technologies emerging, the greater payment ecosystem continues to evolve. It’s true you don’t need to be a payment expert to run a business, manage an office or head up an accounts receivable team. However, being familiar with …
Credit Card Decline Codes: What Merchants Should Know
Accepting credit cards for your business has many advantages. One of the most convenient aspects is knowing instantly whether a payment was approved or declined. Rather than waiting days and dealing with a returned ACH payment, your business can know within seconds whether a credit card declined or was approved. When a card has been declined, the most common credit …
4 Key Metrics for Measuring Digital Campaigns in Accounts Receivable
Every debt collector knows the struggle of getting consumers to answer their phones. Digital campaigns can better engage people who want to pay without requiring them to answer a call. But you need to collect certain key metrics to know these new tactics are working. Collecting and analyzing your data will help you understand how your business is performing and …
How to Create and Measure an Omnichannel Strategy in Debt Collection
Creating a digital omnichannel strategy for debt collection is essential for the future. Technology is readily available and there are compliant ways to use it to better connect with consumers. How do you know what you’re planning (or what you’ve already set up) is working as well as it could? Three digital collections experts, Pran Navanandan, Halsted Financial Services, Dianne …
Email Deliverability and Your Payment Communication Strategy
How confident are you that payment reminders, invoices and other business communications are making it to the inbox? Email deliverability is how your emails consistently end up in the right place. Do you know what steps vendors take to ensure customer communications work the way they need to?Email as a Digital Payment StrategyEmail is an essential channel for customer engagement. …
Use Pay by Text (and More!) to Engage and Delight Customers
Consumer preferences have changed. Most people want the fastest, easiest way to interact with your company – that means paper statements and telephone calls shouldn’t be your only way to engage with customers. Allowing consumers to pay by text is an excellent tool to reach consumers, boost engagement numbers and ultimately collect more payments on time.Use Cases For Text Messaging …
3 Payment Software Adoption Goals for Small to Midsize Businesses
If you are evaluating your company’s payment software and communication workflows, you need to look not only at existing processes, but at the tools you’re using to engage customers. Many managers have inherited payment software solutions they never would have chosen or don’t fully understand how to use. This causes problems in an organization from expensive or inefficient processes to …
Don’t Wait! Adopt Text and Email Communications, Grow Agency Market Share
Do you pick up the phone when a stranger calls? Most of your consumers don’t. So why keep trying something that doesn’t work? Three digital technology advocates and ARM industry professionals spoke with AccountsRecovery.net to share why text and email are now more than necessary. Megan Bryant, Credit Collection Partners, Wade Isbell, Professional Credit Services, and Chris Repholz, The CCS …
Experts Answer 7 Questions: How Digital Strategists Fit in Debt Collection
Digital channels for communication are common, cost effective, expected – and perhaps most importantly – wanted by consumers. But for years, debt collection has been trapped between trying to propel their agencies forward with new technologies and being held back due to compliance fears. Now, with permission given through Regulation F, those who haven’t dipped their toes into digital strategy …
Secure Payment Capture Technology Through PDCflow/PIMSWARE Partnership
Ogden, UT – Payment communication software company PDCflow and call center software company PIMSWARE have teamed up to deliver secure capture payment technology. Through an integration with PDCflow’s Flow Technology, PIMSWARE users can now send texts and emails or call via dialer and collect secure signatures and payments from consumers – all within a single system. “Partnering with PDCflow has …
Digital Engagement Technology in Debt Collection: Consent, Compliance and Risk
Spam calls and change in communication preferences from younger generations is making it harder than ever for debt collectors to get consumers on the phone. That’s why digital engagement through email, text and electronic methods of payment are now becoming mainstream in accounts receivable. Mike Frost, partner at Malone, Frost, Martin PLLC., has been watching the compliance landscape since Regulation …
Innovative Digital Workflows: One Company’s Creative Solution
Businesses now have so many software choices it can be overwhelming to decide what systems to use. Technology should make doing business easier and create a better digital workflow for both staff and customers. Some of your systems, like your customer database, gamification tools or training programs will never be seen by the public. But others like the tools that …
8 Digital Methods of Payment to Upgrade Customer Experience
There’s nothing more frustrating than customers failing to pay you on time for goods or services you’ve already provided. Fortunately, emerging technology options and methods of payment can shorten the average number of days it takes to collect a bill. Adopting omnichannel payment methods makes it easy for everyone to pay the way they prefer, from younger digital natives who …
Steps to CFPB Compliance Throughout a Period of Shifting Priorities
Implementing systems and workflows in line with Regulation F was a huge project for debt collectors. But recent remarks, social media posts, bulletins, blogs and CFPB press releases suggest that the focus on CFPB compliance isn’t over for AR professionals. Joann Needleman and Leslie Bender, Attorneys at Clark Hill Law, have monitored CFPB rules and actions for many years and …
What to Know About Expanding Your Business into First Party Collections
Many debt collection agencies are looking for business expansion opportunities to bring in more revenue. As a result, first party collection and extended business office (EBO) services are becoming more popular offerings.The Difference Between First Party and Third Party CollectionsFirst party collection means you are collecting late payments on behalf of your client under their branding – before accounts become …
PDCflow QR Codes: Faster, Simpler, More Successful Customer-Initiated Payments
Ogden, Utah – PDCflow announces the recent release of QR code payment portal links and Flow requests. To enhance the customer experience and encourage faster, easier payments, PDCflow now offers the ability to generate a QR code that instantly directs customers to your payment portal or a Flow request’s unique URL. Merchants can print a QR code on letters, estimates, …
What Every Merchant Needs to Know about MOTO Payments
Online businesses are more commonplace than ever. In fact, many companies now may never interact with customers face-to-face. Unfortunately, the convenience of digital transactions also makes MOTO payments (Mail order/Telephone order) a higher risk for businesses and consumers alike. Why are businesses that take MOTO credit card transactions putting themselves at higher risk? How can new technology make online payments …
Self-Serve Recurring Payments: PDCflow Announces the Release of Payer Created Schedules
Ogden, UT – Today, PDCflow announced the newly available self-service payment feature, Payer Created Schedules. Payer Created Schedules are a way for consumers to set up a recurring payment schedule in a self-serve environment, without the help of an agent. Self-serve recurring payments offer more options to customers who wish to resolve their bills without the help of an associate. …
Compliance Risk Assessment and Preparing for Digital Communication in AR
The long-awaited Regulation F recently outlined how the CFPB expects debt collection agencies to operate. The Bureau’s intentions with the regulation are to standardize debt collection, protect consumers and create a better customer experience. Now that Regulation F has finally been implemented, industry experts like Mike Frost, partner at Malone, Frost, Martin PLLC, are monitoring its impact and encouraging agencies …
Top Digital Communication Tools and Leading Channels for Taking Payments
Accounts receivable experts are still navigating the best ways to implement digital communication tools and optimize digital strategies. Agency owners want to use email, text, web chats, payment portals and other current technology. But many people don’t know which channels are the best for them and their consumers. As webinar panelists, Jill Kennady, Resurgent Capital Services, Jordan McWilliams, Contract Callers, …
Can’t Miss Expert Takeaways to Create a Digital Communication Strategy
Regulation F, consumer preferences and better software options all point toward the same conclusion – having a digital communication strategy in debt collection should be the norm. However, change is hard. Many agencies are still hesitant to commit to digital strategies. In a recent Accountsrecovery.net webinar, experts Jill Kennady, Resurgent Capital Services, Jordan McWilliams, Contract Callers, Inc., and Cody Owens, …
PDCflow Partners with Debtmaster360 to Offer Fast, Secure, Digital Payment Workflows
PDCflow and Debtmaster360 have partnered to provide secure digital payment communication options to accounts receivable management companies. Now, users can send secure email and text payment requests and esignatures to consumers in minutes – all within the Debtmaster360 platform. “We are very excited to partner with PDCflow in offering Debtmaster360 customers a new, efficient, and modern way to capture more …
Electronic Invoice Management: Level Up Your Business
Office processes like invoice management are built and refined through countless rounds of trial and error. Usually though, companies don’t have time to dedicate to changing an entire end-to-end process. As technology advances and consumer communication preferences shift, this can cause a big problem. If your office is only changing sections of your customer invoicing process without reviewing the big …
Best Practices, Tools, and Strategies to Improve Customer Service Quality
Using a range of strategies to improve customer service quality is the best way to ensure you’re prepared for any type of issue. After all, problems can occur anywhere along the customer journey. It’s important to strive for excellent customer service with high quality standards to build trust and brand loyalty.Basic Customer Service Skills Before making big changes to your …
Expert Advice to Create Call Center Employee Career Development Plans
Every time a good employee quits, your office loses knowledge and experience that could have enriched your organization. If you’re tired of training people only to lose them months later, consider adding a career development plan to your employee pipeline. Beth Conklin, Director, Organizational Training and Development at State Collection Service, Inc. and Hal Trapp, AVP, Organizational Initiatives at Receivable …
6 Step Blueprint to Prevent Call Center Burnout and Stress
Many collectors experience call center burnout in their careers. Back to back negative calls, pressure to meet goals and countless other factors can contribute. When your call center agents are in this position, they can’t recognize missing opportunities for collection (making the problem worse). Luckily, CollectorLive! provides debt collectors in all stages of their careers with tools, tips and education …
Wet Signatures and Electronic Signatures: What to Know
Ink signatures have long been the standard to signify a legally binding contract. A wet signature, by definition, refers to the act of signing by hand with wet ink on paper. As demands increase for faster business processes and digital communication, companies are looking for ways to simplify the signing process. For those who are still collecting signatures by hand, …
Improve Call Center Operations Through Training and Technology
Improving your call center operations is an ongoing struggle. You want to provide the best customer experiences possible but managing large teams and standardizing processes is hard. From acquisition to customer service to payment, there are many steps where the system can break down. Investing in workflow tools and the latest training techniques will make life easier for your customers …
Guide On Charging Credit Card Convenience Fees
Being a merchant is expensive. Your mission is to save money or boost profits any way you can. After all, your bottom line is at stake. This concern for the health of your business can drive you toward long-term success. If you’re wondering whether your own business can charge credit card convenience fees, the short answer is yes. But, there …
An In Debt Discussion: Technology, Compliance and Payments Made Easy
Are you looking for a way to better leverage your technology options to create a better consumer connection experience in accounts receivable? The new podcast “An In Debt Discussion,” hosted by Jacqueline H. Waller, covers this and more with a new guest and topic each episode.Waller, with almost two decades of experience in the ARM industry, is hoping to use …
Thriving in Third Party Collection: An Interview With Bethany Robertson
Like many people in accounts receivable, Bethany Robertson found her career path by accident – working part time for an agency during college. Now, Vice President, co-owner, and founder of Debt Recovery Solutions of Ohio, Inc, she runs a thriving collection agency of her own. As a long time customer of PDCflow, we wanted to highlight Robertson’s accomplishments, as well …
Money Management Tips for Every Stage of the Business Lifecycle
No matter where your organization falls in the business lifecycle, managing the financial health of your company will always be crucial for success. Even the biggest corporations in history have run into cash issues. It can happen to anyone. In fact, issues with cash flow are the leading cause of business failure. Luckily there are ways to improve. Being proactive …
Breaking Down Regulation F’s Debt Validation Notice
Legal professionals for the ARM industry, like Leslie Bender and Joann Needleman of Clark Hill Law, have been addressing Regulation F implementation challenges since the rule was proposed. Since then, they have continued to be a guiding voice for debt collectors throughout the debt collection rulemaking process. Recently, they sat down with PDCflow’s Sales & Marketing Manager Dawn Updike to …
Compliance Roadmap: FDCPA Laws & Regulation F
The implementation date for the CFPB’s Regulation F was November 30, 2021. By now, debt collection agencies should be fully compliant with this long-awaited rule. Despite this, many agencies are still struggling to modernize out of fear of being non-compliant. To help agencies prepare for these compliance challenges, PDCflow and financial services attorneys Joann Needleman and Leslie Bender, presented a …
PDCflow Releases Support for Zero Cost Processing to Merchants
Ogden, Utah – PDCflow, in partnership with a leading Merchant Service Provider (MSP), now supports the ability to reduce costs while collecting online credit card payments with Zero Cost Processing. Through this feature, merchants can charge consumers a Technology Fee for the hardware, software and security for online transactions, replacing the traditional MSP billing structure. Along with savings, Zero Cost …
Digital Debt Collection: How Consumer Preference Can Drive Higher Revenue
Digital debt collection, while not a new idea, has been difficult for many to implement compliantly in the past. Now, through Regulation F and the emergence of new debt collection technology, the debt collection industry is finally beginning to see a digital transformation. Debt Collection agency operating models have begun to include more digital tools and the future of debt …
Strategies for Successful Payment Request Emails: Timing, Cadence, and Content Best Practices
For decades, paper bills and telephone calls have been the standard tactic for collecting payments. Now, payment request email options are available (and expected) by consumers. Using email to request payments and software that can capture customer payment information via email is popular, simple to implement, and creates a quicker way for people to pay their bills.Why Use Payment Request …
Credit and Collection Industry RoundUp: 12 Books for Leadership and Personal Development
It’s impossible to measure how much a good book can influence one’s life. Reading can help you relax, teach you a new skill or even impact your career. That’s why we reached out to PDCflow customers and other Accounts Receivable industry professionals with one simple question: What book has influenced your professional development or helped you build your business? Here’s what …
Debt Collection Workflow Optimization in the Digital Era
Workflow optimization is a trial and error process. It takes attention, time and patience to find the right system for the type of debt you’re collecting. In a recent webinar, “Developing the Optimal Workflow for Your Collection Process,” by Accountsrecovery.net, three debt collection experts discussed ways to adjust your systems, where to look for improvements and how to analyze the …
Digital Collection Strategies: The Key to Better Business Operations
The events of the last year had a huge impact on the accounts receivable industry. The pandemic disrupted business operations and transformed debt collection security and compliance procedures. Standards that have been in place for a decade or more were no longer viable and agencies were forced to adopt digital collection practices almost overnight.What is Digital Collections?Agencies have now spent …
A2P SMS Guide: Flow Delivery Via SMS Texting Service
Using text messaging for your business is an excellent way to reach consumers through one of the communication channels they most prefer. As a vendor, it is our responsibility to provide you with convenient options to communicate with your consumers (like with our SMS texting service) while also keeping up with the latest regulations and rules. That’s why we are …
Automation Solutions: How to Identify Areas of Opportunity in AR
How much of your staff’s time is spent doing repetitive tasks? How much of that time could they devote to more important issues? Automating these simple processes streamlines day-to-day responsibilities. If you manage operations for your call center, collection agency or office, identifying automation solutions that will impact your business should be a priority.Why Look for Automation Solutions?Why are automation …
PDCflow Simplifies Cash Payments With Cash Tracking
Ogden, Utah – PDCflow announces an even more complete, streamlined payment process with the release of cash tracking within the Flow User Interface (UI). Now, businesses can keep track of all payment transactions in a single place and better serve consumers – no matter what payment channel they prefer to use. Using PDCflow’s cash tracking to take payments: Creates an …
3 Effective Communication Strategy Tips for Debt Collectors
I opened my debt collection agency in 1998. From day one, the stressful phone calls started to take a toll on me. Sometimes I would lose sleep at night because I was stressed about potential lawsuits, consumer complaints, or losing clients. In 2005, all of that changed. One day, after a series of frustrating collection calls, I just looked at …
How Listening to Customers Improves Debt Collection Recovery Rates
Listening to customers keeps them happier, boosts retention and helps companies identify areas of improvement. In debt collection, listening is a key skill to look for in a new hire. It is an essential part of consumer interactions, determining the success (or failure) of the calls your agents make.Deep ListeningCommunication and collections professional Mary Shores is a vocal advocate of …
Simplified Workflow Management for AR Billing
Could you be using email and text channels more effectively to enhance your accounts receivable workflows and communicate better with customers? AR workflow software can help you cater to customers who expect to digitally sign documents and receive bills, payment reminders, or payment links by email or text message.What is an Accounts Receivable Workflow?Accounts Receivable workflows are any workflows that …
8 Payment Processor Questions Your Business Needs to Ask
Shopping for payment technology for your business can be overwhelming. You need to be able to make the best choices for your company but what do you need to know first? If you’re looking for a payment processor, here are some of the most important current trends, compliance concerns and tools that can help you with your choice.1) What is …
Protect Payments with Data Tokenization and Encryption
Security is an essential part of taking payments. Your payment communication software should take precautions with the sensitive information they help you manage. Otherwise, they aren’t looking out for you or your consumers. Encryption and data tokenization are essential steps to protect credit card and bank account numbers from being improperly handled. PDCflow uses both encryption and tokenization of data …
3 Quick Tips to Create a Connected Consumer Experience
One of my favorite quotes is by the author Maya Angelou: “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”This is clearly a great quote for people interested in personal development because it perfectly captures the importance of leaving a lasting, positive impression on …
Hunstein Decision: Collection and Consumer Attorneys Weigh In
The recent Hunstein decision has been a big talking point for debt collection since the ruling was made. Agencies are scrambling to understand the implications of this case, which found transmitting data from a debt collector to a letter vendor is a violation of third party disclosure, even as new suits are being filed. To get a handle on this …
Digital Engagement Software to Meet Today’s Consumer Expectations
Using the internet to pay bills and interact with companies is popular. With the demand for contactless communication brought on by COVID-19 and the change in consumer preferences, a trend that has been building for years (the use of digital engagement tools) is here to stay. One study conducted last year shows that digital adoption rates are at an all …
PDCflow Announces Bank Account Tokenization
Ogden, Utah – As part of their ongoing dedication to provide secure, convenient payment communications to consumers, PDCflow announces new bank account tokenization capabilities for ACH payments. ACH tokenization enhances the already strong data security and fraud protection within PDCflow’s User Interface (UI) without impacting current or future merchant operations. Companies can continue to build and host payment workflows, while …
Understanding Your Business Insurance Policy: Covering Unpreventable Risks
There are countless risks associated with running a business and tactics for preventing or responding to them are always changing. Especially in the accounts receivable industry, there are many unpreventable risks that can become costly if not properly addressed. Earlier this year, Performant Corporate Counsel Lauren Valenzuela and Finexus Insurance Agency CEO Katie Zugsay discussed new risks and better operational …
EBOs and the Patient Experience in Healthcare Billing
The patient experience in healthcare billing is an essential (often overlooked) part of the healthcare revenue cycle. Every medical organization understands that patients need to feel involved in their care during medical services but don’t always extend that importance when it’s time for patients to pay. As an extended business office (EBO) for a healthcare organization, what does the patient …
Modernize the Patient Financial Journey: Where, Why and How
If you receive a bill months after a service, how likely are you to remember what it’s for? What if you try to pay but mailing a check or calling an office during your work hours are the only options? As consumers, none of us would be happy if we were put in these positions. So why do we expect …
3 Strategies for Patient Engagement in the Revenue Cycle
In the past few years, high deductible healthcare plans have transformed how patient care is funded. More services are being paid for by patients or through their Health Savings Accounts. This has made patient engagement essential to the billing cycle to ensure medical bills don’t become seriously delinquent. Greater financial responsibility also means that patients have begun treating their healthcare …
Improving Patient Experience: Tips for Medical Billing Staff
In the past, patient satisfaction centered mainly on care received during a visit. Check-in experience and billing and payment issues weren’t considered. Now, healthcare systems and hospitals are putting more focus on improving the entire patient experience throughout their customer journey – including their financial experience. For the extended business office or medical billing staff who collects on patient payments, …
Professional Spotlights: Women in ARM
As many know, the month of March is dedicated as a time to acknowledge the contributions women have made to our society (both in the past, and through ongoing efforts). All year round, our content team at PDCflow tries to create a platform for women in the financial services industry to share their expertise and help others grow and learn. …
Risk Management Strategies: Prevent, Shift, and Improve
An essential part of running an accounts receivable business is keeping up with trends that will impact the industry and your agency. With the recent changes caused by coronavirus, new regulations and emerging technology, it’s important to understand the risks your company faces. Just as important, you must know the latest risk management strategies to keep issues to a minimum.Operational …
PDCflow Announces ACH Verify for Enhanced Payment Security
Ogden, UT – In accordance with the newly enacted Nacha WEB Debit Account Validation rule, PDCflow is announcing ACH Verify, a real-time account validation process to help companies comply. The guidance, which takes effect March 19, 2021, requires account validation the first time a consumer’s account number is used for payment or when the account number is changed. “PDCflow’s ACH …
Enhancing Your Early Out Collection Strategy
As accounts receivable professionals know, early out collection (also known as pre-collection) is a typical practice to resolve healthcare bills and other late customer payments. It helps organizations shorten the revenue cycle and settle accounts as quickly as possible. Extended business offices also reduce overhead expenses for the companies your EBO is working with. EBO tactics help companies intervene before …
ACH Rules Change: WEB Transaction ACH Account Verification
Companies that accept ACH payments online: are you prepared for Nacha’s coming rule changes? Nacha, the governing body in charge of maintaining the safety and security of the ACH payment network, has created new guidelines for accepting WEB debits.What ACH Rules Are Changing?The new Nacha guidance, the WEB Debit Account Validation Rule, has specified a need to pre-transaction screenings of …
Operational Risk Management in Financial Services
Operational risk management in the workplace has always been a concern for business owners and managers. However, the changing workplace environments of the last year has created more risks and liabilities for organizations than ever before. Performant Corporate Counsel Lauren Valenzuela and Finexus Insurance Agency CEO Katie Zugsay discussed these evolving risks in a recent CAC webinar, Smarter Risk Management …
Top 5 Reasons Extended Business Offices Fail to Collect Past Due Payments
Working with a client as an extension of their business can be challenging. If you currently run (or are considering running) an extended business office, you may already know the challenges involved. However, between compliance, staff training and other back-office concerns, it can be hard to manage the roadblocks your agents experience during payment collection. If your business is interested …
Collection Success: The Art and Science of Mental Rehearsal
Another year of Collector.Live! content is in the books, and the speakers did not disappoint. Negotiation expert Joshua Weiss spoke about negotiation tactics front line collectors can use to improve call outcomes and Joann Needleman of Clark Hill discussed digital communication with consumers. Another inspiring speaker, Mike Hiller of American Profit Recovery, discussed the benefits of mental rehearsal for improving …
4 Core Payment Negotiation Tactics for Debt Collections
Collector.Live! has wrapped up another program full of speakers, panels and inspirational knowledge. Front line collectors gained insight on everything from the impacts of Regulation F to the positive impacts of mental rehearsal on job performance. One such speaker, Dr. Joshua N. Weiss, who is a negotiation and conflict resolution expert and President of Negotiation Works, Inc., taught attendees the …
Top Financial Services Podcasts for AR and Consumer Finances
Managing your business while staying informed about current industry events can be difficult to balance. Luckily, with podcasts becoming more popular than ever, you can access knowledge from industry experts at any time. However, wading through all of the content available can be intimidating. Here are just some of the many financial services podcasts available centering on accounts receivable, consumer …
How to Improve Customer Experience in Accounts Receivable
Accounts receivable businesses have a unique relationship with consumers. Often, you find yourselves collecting a bill that consumers may not be excited to pay for a good or service that has already been delivered. Making payment as easy as possible will go a long way towards fast resolution and higher debt recovery rates. Understanding the basic elements of how to …
8 ARM Industry Expert Predictions: Regulations, Consumer Preferences, and Electronic Communications
2020 has been an unusual year for the accounts receivable management industry (to say the least). Agencies across the country found themselves making the shift to remote workers, trying to keep up with state-by-state collection restrictions and dealing with other logistical issues caused by running a business during a pandemic. But the year also saw numerous pieces of legislation, (CFPB’s …
10 Customer Experience Statistics For Accounts Receivable
Poor customer experience negatively impacts companies every day – whether they realize it or not. However, the accounts receivable industry is seeing a shift in focus to prioritize consumers. If your AR company hasn’t made the shift yet, here are ten customer experience statistics that may change your mind.Impact of Negative Customer Service on BusinessNegative customer experience can severely impact …
The CFPB Completes Debt Collection Rulemaking
This article was written by Joann Needleman, Ann E. Lemmo, and Leslie C. Bender. It was originally published by Clark Hill Law and is republished here with permission. On Dec. 18, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) completed its seven-year rulemaking process for debt collection. In 2013, the CFPB embarked on an ambitious journey to write regulations to interpret the 40-year-old Fair Debt …
How to Elevate Your Call Center Training and Evaluation
Call center training is complex. Especially for those in accounts receivable. Not only must you set expectations for the job and explain daily processes – you must also teach agents how to remain compliant with rules and regulations. Debra Ciskey, Executive Vice President and Roger Weiss, President at The Collections Coach, recently gave a presentation for the CAC virtual conference on …
Negotiating Payment Plans: Successful Strategies for Call Centers
Payment negotiations are the most important part of accounts receivable. If agents don’t know the best tactics for setting up payment plans or collecting higher dollar amounts, you will routinely leave money on the table. Every accounts receivable call center should train staff in basic methods for collecting the highest amount in the shortest time frame possible.Top Down NegotiationTop down …
6 Tools To Help Employees Succeed at Remote Work
There was a time when remote work—commonly referred to as telecommuting—was widely regarded as an incentive not only for employees but also for their employers. However, with the COVID-19 pandemic, remote work has become less of an incentive than a necessity. After all, telecommuting is pretty much the only way some companies can continue their operations with a semblance of …
How To Win Healthcare Outsourcing Business During COVID-19
In 2019, an article from NPR covered healthcare outsourcing for collections, the practice of hospitals suing patients and the financial strain it may cause. Since the pandemic, there have been several more news stories on healthcare collection tactics, bringing up the ethics of whether or not they should be taking place. Healthcare organizations care about the wellbeing of their patients. …
The CFPB Issues Regulation F, but the Debt Collection Rules Are Far From Final
This article was written by Joann Needleman, Leslie C. Bender and Ann E. Lemmo. It was originally published by Clark Hill Law and is republished here with permission. The long-awaited Final Rule (Regulation F) for the Fair Debt Collection Practices Act (FDCPA) was issued Friday afternoon, concluding a seven-year rulemaking process. In its official press release, the Consumer Financial Protection Bureau’s (CFPB or Bureau) Director, …
What is a Payment Gateway? Choosing the Best Option for Accounts Receivable
Last updated December 2022 Running your accounts receivable business or team takes planning, organization, and the right tools. Along with the Accounts Receivable (AR) software organizations use to manage accounts, you need a payment gateway solution designed for your industry. What is a payment gateway and how do you choose the right one for accounts receivable?Payment Gateway DefinitionWhat is a …
A Debt Collection Compliance Minefield: Call Baiting
Adapting live conferences to a digital format has created many challenges for events coordinators this year. However, trade organizations – like the California Association of Collectors (CAC) – remain dedicated to providing resources and networking opportunities for members, just as in years past. During one session, Amanda Griffith, partner with Berman, Berman, Berman, Schneider & Lowary, LLP, discussed debt collection …
Thriving in Third Party Debt Collection: An Interview With Lauren Valenzuela
In accounts receivable, it’s important to stay informed about upcoming legislation and other changes that will impact business (especially during major disruption, like the events happening this year). Lauren Valenzuela has been watching the trends and staying up-to-date with the latest in AR compliance as part of her job as Corporate Counsel, Performant Financial Corp. We had the pleasure of …
Increase Debt Recovery with the ‘Goldilocks Zone of Connection’
Are your collectors stuck in the friend zone with consumers? In other words, are your collectors sympathetic to consumers to the point where they feel bad asking for payment and don’t collect any money or only a small amount? Or, maybe it’s the opposite problem. Are your collectors so aggressive on collection calls that their words and behavior land them …
What is a Digital Accounts Receivable Strategy and Why Do You Need One?
Your business plan impacts every aspect of your agency’s day-to-day operations and long-term decisions. Although traditional approaches have worked in the past, technology, changing consumers, and current events are all forcing a shift in debt collection. It’s time to embrace a digital accounts receivable strategy to keep your business moving forward.What Is a Digital Accounts Receivable Strategy A digital accounts receivable …
PDCflow COO Ed Bills featured in Podcast “Credit Eco to go”
This summer, Joann Needleman, financial services attorney at Clark Hill Law, launched the podcast “Credit Ecosystem To Go: Curbside Thought Leadership for Financial Services.” The podcast, centered around consumer finance issues, provides “bite-sized” discussions with industry leaders. Each episode, she interviews a different expert, covering current hot topics impacting professionals and consumers. Needleman serves as an industry advocate and navigator to …
Web Chat Services for AR: Never Miss a Payment Opportunity
The way consumers interact with your business has changed. Many people prefer to do research about your company before speaking to you – especially in accounts receivable, when you’re asking them to pay a bill. Just as in any other industry good website design is now a must in AR. Offering web chat services can be your agency’s differentiating factor …
Transform Your Patient Collections with Technology
When it comes to the technology used to manage accounts receivable, healthcare and medical billing offices lag behind many other industries. Concerns over things like HIPAA compliance and software integration have stalled software adoption – but it shouldn’t. The trick to transforming patient collections is finding compliant, multi-function software tools that are easy to implement.Common Patient Collections StrugglesIt’s overwhelming to …
Thriving In Third Party Debt Collection: An Interview with John Bedard
This year has seen vast, unexpected change for the credit and collection industry. As many professionals work to navigate this new world of remote work and prepare for the months to come, attorney John Bedard has been a dominant voice, guiding collectors through the struggle. We recently spoke to Bedard about his journey in the industry, his observations on doing …
Marketing Messaging: Making It Work for Accounts Receivable
The way accounts receivable businesses operate is changing. Consumers and potential clients spend more time researching companies online and less speaking directly to your business. That means your agency’s website must speak to visitors as clearly as possible. A concise marketing message and clear website copy can help you communicate to all your audiences. Use messaging properly and you will …
Fast and Secure Call Center Payments with Flow Technology
Between the business regulations, HR concerns, and TCPA rules directing your internal policies and procedures, it’s hard to believe there is more your call center should think about. However, taking payments means there are multiple payment processing compliance rules your business must follow too. Keeping all of your regulations straight is time-consuming. That’s why many call centers have begun to …
Positive Language: The Secret To Collecting More On Delinquent Accounts
Speaking to consumers about delinquent accounts can stir up negative emotions. Retraining yourself and staff to replace negative language or neutral phrases with positive language can have a big impact on your debt collection calls. To optimize your consumer interactions through positive communication, first focus on tone, intentional language, and breaking negative habits that impact calls.Intentional Positive Language and TonePeople …
The Pending Debt Collection Rule and the Supreme Court Seila Decision
What will the Seila decision mean for the ARM industry and the pending debt collection rule? The only concrete takeaway from last month’s Supreme Court decision in the case of the Consumer Financial Protection Bureau (CFPB or Bureau) v. Seila was that the CFPB remains a federal independent agency whose director will now answer to the President. What is still …
Leverage Technology to Grow Your Accounts Receivable Business
It’s hard to imagine adding more unknown factors to the uncertain future of running a business this year. Thinking about your company’s growth at this time may even be scary. The fact is, though, you should embrace this time of disruption to prepare your business for an even stronger future. The easiest starting point is to leverage technology to optimize …
Cash Flow Management With A Remote Call Center Staff
When call centers recently had to turn to remote work to stay running, many were doing so as a short-term arrangement. Companies are finding now, however, that a remote call center staff is sustainable in the long-term and can cut costs on office space. With this new type of work culture emerging, it’s time to fine-tune cash flow management within …
Brand Building for Financial Services: An Interview With Phoebe Assenza, Brand Strategist
Phoebe Assenza is a brand strategist and writer behind some of the most innovative fintech companies in wealth management, accounts receivable, and lending. We sat down to discuss the importance of a brand strategy for financial services and ARM firms, and what that entails.Phoebe Assenza Brand Strategist at Rhetorica CreativeWhat is branding or brand building? Why is it important? “Brand” …
Managing Remote Staff in Healthcare Collections Long-Term
Share this ArticleIt has been a few months since companies transitioned their staff out of offices. By now, the immediate struggles of changing on-site employees into remote workers have been resolved. Now, healthcare collections and other accounts receivable businesses are starting to realize that managing remote staff may be a long term necessity. No one knows how long the Coronavirus …
Build Your Consumer Connection Pyramid: One Word at a Time
Share this ArticleToday’s post is a guest blog written by Mary Shores, agency owner of Midstate Collection Solutions. The coronavirus has touched every one of us in some way and caused a great amount of fear and uncertainty. At the same time, it has required us to isolate ourselves, which means the need for true human connection has never been …
Good Communication Skills: The Future of the Collections Industry
At this time of economic uncertainty, good communication skills have become a popular topic for experts in the debt collection industry. The role of communication now and in the future of debt collection was discussed at length during last month’s special Home Edition of Collector.Live! Several presenters took advantage of their time during the day-long virtual presentation to talk about …
Collector.Live! Home Edition: Home Office Set Up
In the past few years since its creation, Collector.Live! has become a mainstay of debt collection company education for all levels of the industry. It’s not surprising, at such a difficult-to-navigate time, many well-known ARM professionals answered the call to put on a special Home Edition of the event. Unlike past paid events, Collector.Live! Home Edition was held at no …
Remote Workers: Payment Security and Compliance Challenges in AR
With most businesses taking a hit right now it’s more important than ever to keep your operation secure. There have been many stories in the past few years of large companies dealing with the fallout of unsecure processes or systems. The Marriott data breach, Equifax and recent breach of the ARM industry company, American Medical Collection Agency (AMCA), show that …
Tips for Good Website Design So Your Collection Agency Can Take More Payments
Share This Article The sudden change in daily life due to the coronavirus has businesses moving more operations online. Debt collection agencies are now working with remote staff or smaller teams, and are struggling with several state laws blocking collection activity. Agencies should now put a greater focus on good website design to make sure consumers can still make payments …
Debt Collection Companies: More Vital Than Ever to Consumers and the Credit Cycle
The coronavirus pandemic has been hard on the industry, causing debt collection companies to make quick decisions to keep staff safe and agencies running compliantly through remote work. Along with this, every day more news comes out about debt collection restrictions across the country. The combination of unprecedented unemployment numbers and the negative perception of debt collectors has caused some …
Digital Payment Services for AR Business Continuity
Digital payment services were once preferred payment methods for consumer convenience. With the developments of COVID-19, social distancing and the need for remote offices, self-serve digital payment services – like online payments – are now a necessity. Consumers need ways to pay that keep all parties safe while maintaining business continuity. Here are the features you need to move your …
How Your Business Can Stay Cybersecure
Companies everywhere are on high alert when it comes to keeping their data secure. However, this doesn’t always mean they follow the best practices when it comes to cybersecurity. According to IBM, 77 percent of IT professionals stated that they do not have a cybersecurity incident response plan. However, there are preventative measures companies can take to stop a data …
Celebrating Women in Financial Services: Amy Perkins, President, insideARM
Share this ArticleIn celebration of women’s history month, PDCflow is highlighting the work and journeys of a few women in the financial services industry. PDCflow’s Marketing Manager Dawn Updike had the opportunity last December to meet these women and see them present at insideARM’s Women in Consumer and Commercial Finance conference. Over the course of this very long month of …
Collections and Servicing in the Post-Pandemic World: A Glimpse into the New Normal
Share this ArticleThis article was written by Joann Needleman and Ann E. Lemmo, and originally was published by Clark Hill Law, and is republished here with permission. The collections and servicing industry and call centers are being hit hard as a result of COVID-19. Agencies and businesses are scrambling to supply their staff with the hardware and software to work remotely …
Celebrating Women in Financial Services: Brit Suttell, Attorney, Barron & Newburger, P.C.
Share this ArticleIn celebration of women’s history month, PDCflow is highlighting the work and journeys of a few women in the financial services industry. PDCflow’s Marketing Manager Dawn Updike had the opportunity last December to meet these women and see them present at insideARM’s Women in Consumer and Commercial Finance conference. Over the last few weeks we featured two talented, …
The Industry’s Digital Delay May Be An Advantage – But You Must Answer These 3 Questions
Share this ArticleThis article, which originally appeared on insideARM, is part of the iA Think Differently series and was authored by Matthew Snedden, Chief Operating Officer of Beyond Investments. Written by members of the iA Innovation Council, the series showcases thought leadership in analytics, communications, payments, and compliance technology for the accounts receivable management industry. It is undeniable that the …
Celebrating Women in Financial Services: Linda Straub Jones, Senior Account Executive, NeuAnalytics
Share this ArticleIn celebration of women’s history month, PDCflow is highlighting the work and journeys of a few women in the financial services industry. PDCflow’s Marketing Manager Dawn Updike had the opportunity last December to meet these women and see them present at insideARM’s Women in Consumer and Commercial Finance conference. Each woman featured in this series has taken very …
Debt Collection Call Tips: Quality Over Quantity
Consumers are becoming harder than ever to reach. Call blocking, call screening, and consumer preference for text, email, and other digital communication methods make right-party contact on a collection call more difficult. Many debt collection industry professionals have recognized this trend. Instead of speeding through debt collector calls to increase the number of contacts made each day, many are advocating …
Celebrating Women in Financial Services: Robin Cole, NCBA Associate Executive Director
Share this ArticleIn celebration of women’s history month, PDCflow is highlighting the work and journeys of a few women in the financial services industry. PDCflow’s Marketing Manager Dawn Updike had the opportunity last December to meet these women and see them present at insideARM’s Women in Consumer and Commercial Finance conference. Each woman featured in the Women in Financial Services …
Ethics Training Program: An Accounts Receivable Guide
Share this ArticleMany companies focus on incentives and benefits to entice and maintain staff, but a positive company culture can be just as influential. A thorough ethics training program and culture of ethical behavior makes staff feel safe and valued – factors that impact whether staff work their hardest and pursue professional development within your company. Why an Ethics Training …
How to Use Email and Text in Your Debt Collection Strategy
Traditional communication methods like telephone calls and paper correspondence are becoming less popular with consumers. As new digital communication methods emerge, consumers expect companies to keep up with tech trends by offering communication methods they most prefer. Unfortunately, heavily regulated industries like debt collection have been slow to respond to this trend, fearing lawsuits due to non-compliance. During a PDCflow …
Education and Motivation for your Debt Collection Team
Share this ArticleThis is a summary of a select few presentations at Collector Live 2020. A full recording of the event which includes many additional speakers is available for purchase at Collector.live. Another Collector Live show has come and gone. This one-day virtual conference offered information to help personnel from every level of your debt collection team to improve and …
Grow Business with Employee Professional Development
Investing in employee professional development is a smart strategy for businesses. It takes time, effort, and money to attract talent to your organization, so offering learning opportunities to employees can help you retain them. According to Edward Fleischman, Founder and CEO of The Execu|Search Group in a recent Forbes article, “If you don’t offer learning and growth opportunities, your employees …
Payment Negotiation Tips for Past Due Accounts
It’s never a bad time to learn new debt negotiation tips or refresh yourself – and your team – on the best practices for negotiating payments on past-due accounts. Accountsrecovery.net hosted a webinar with three credit and collections experts to discuss payment negotiation tips for accounts receivable teams:Beth ConklinAccount Executive State Collection Service, Inc.Mike HillerVice President of Collections American Profit …
Credit and Collection Industry Experts Reveal 2019 Surprises and 2020 Trends
Last year brought on the beginning of many changes for the credit and collection industry. The Consumer Financial Protection Bureau (CFPB) announced a Notice of Proposed Rulemaking (NPR), digital communications are becoming part of the conversation for debt collection, and data privacy concerns are now front and center. Accounts Receivable professionals from all across the industry spent the end of …
Preparing for CCPA Compliance
Share this Article2019 is winding down, and with the new year comes a new era in privacy regulations. The California Consumer Privacy Act becomes operative on January 1, 2020, leading the way for other privacy regulation across the U.S. The California Association of Collectors (CAC) spent considerable time this fall discussing the CCPA during a webinar paneled by attorneys Lauren …
How To Succeed in Healthcare Collections: Communication, Education and Empathy
Share this ArticleRecently, Accountsrecovery.net hosted a webinar on the New Dynamic of Healthcare Collections. The panelists, Jay Gonsalves, Christian Lehr and W. Judd Peak spoke about their experiences in medical collections, and what changes they’ve seen after the recent news surrounding litigation to recover unpaid medical bills. Throughout the hour-long conversation, the panel addressed provider concerns about risk to their …
Tips to Run a Compliance Management Program In a Small to Mid-Sized Collection Agency
This article was written with help from Tim Collins, leading attorney in the ARM space. Nearly half of ACA member organizations are small-scale collection agencies. These offices run with small crews and service fewer accounts but must still focus on compliance management. How do small and mid-sized agencies do this without the resources of a large organization? It’s all about …
Consumer Rights in Debt Collection Under the CCPA
Share this ArticleThe next step in protecting consumer privacy has been taken through the new California Consumer Privacy Act (CCPA). The law, which becomes operative January 1 of 2020, is the first of its kind in the U.S. In a recent webinar hosted by the California Association of Collectors, Lauren Valenzuela, Compliance Counsel at Performant Recovery, Inc. gave an overview …
Compliance and Risk Management is the Secret to a Successful Debt Collection Agency
Share this ArticleSome companies think that revenue is the most important, and compliance is a cost. “Actually, if your compliance program is working, it should be saving you money,” says Laura Knights, Gulf Coast Collection Bureau. She recently discussed the important role compliance management plays in collection in a webinar on the future of compliance management. Hosted by Accounts Recovery, …
How To Use Recurring Billing For Your Business
Share this ArticleOne-time payments to your company are necessary to accept from consumers, but for many businesses – especially those that run on accounts receivable – you need a recurring billing option within your payment software too. Recurring billing is the practice of charging a customer in installments rather than in a lump sum. These payment schedules can be used …
California Consumer Privacy Act Overview
Social media, websites and countless apps have expanded our worlds and made our lives easier. Now, consumers are starting to see the potential downsides to technological convenience. The Cambridge Analytica scandal and countless data breaches have made consumers – and lawmakers – weary. In 2018, the European Union (EU) led the way in data protection rules with the General Data …
What Businesses Ought To Know About Credit Card Tokenization
Last Updated December 2022 Data security breaches are becoming a big problem. In fact, there have been so many that Identity Force keeps a running list of all breaches reported so far in 2022. The length of the list is staggering. What can businesses learn about security from all these breaches? Credit card tokenization, encryption and other security measures must …
How To Build a Website for Your Debt Collection Agency to Reach Every Audience
By now, every legitimate business should have a working website. Debt collection agencies are no exception. The objectives your debt collection agency website should achieve, however, are unique. Debt collection agencies have three main purposes: help consumers resolve their debts attract new clients to grow your business hire new staff members The challenge is understanding how to build a website …
10 Things to Consider When Redesigning Your Website
Share this ArticleIn the financial services industry, you need to be able to prove legitimacy and build trust with consumers and potential clients. The best way to do this is to build your web presence through a great company website. We spoke to the experts at Metric Marketing to learn what elements every business should consider when creating or redesigning …
Safe Harbors for Email and Text Messages Under the NPR
The CFPB Notice of Proposed Rulemaking (NPR) has been covered extensively in articles and webinars over the past few months. The prospect of using text and email messages is exciting for an industry that has been all but left out of using the latest technology. The question is, how will you use digital communication safely? Here are a few common …
30 Debt Quotes: Showing Empathy and the Burden of Debt
People can accrue debt in many ways. Some take out loans for houses, cars and school. Some overspend on restaurants or travel. Others rack up debt due to medical expenses insurance won’t cover. Whatever the reason, most end up in collections the same way – an aspect of the consumer’s life changed, leaving them unable to pay a bill. This …
How Will Limited Content Messages Fit Into Your Collection Strategy?
As Joann Needleman, attorney at Clark Hill, explained in a recent webinar, the CFPB’s Notice of Proposed Rulemaking (NPR) is intended to make debt collection practices uniform. If everyone operates the same way, though, how will you stand out? This is where a customer service strategy for your collection agency can make a difference. To differentiate yourself, prepare now to …
Call Blocking and Right Party Contact in Debt Collection
This blog post is based on information discussed in a recent California Association of Collectors (CAC) webinar and was co-authored by Neustar. Spam tagging and call blocking are causing a huge problem in debt collections. In the last two years, collection agencies have seen a drastic increase in their legitimate calls being blocked or mislabeled with Spam overlays. Shawn Suhr, …
CFPB Proposed New Rule: Debt Collector Do’s and Don’ts
Share this ArticleFor debt collectors, the CFPB’s notice of proposed rule (NPR) is becoming the embodiment of the phrase “hurry up and wait.” The Bureau’s proposed rule released in early May. Once it became public, the reaction from many experts was appreciation for the level of detail in the 500+ page document. Weeks after the release of the rules, though, …
Increase Cash Flow with SMS Text Payments and Invoicing
In today’s tightening economy, businesses that put customer experience and digital transformation as their top priorities will not only survive, but grow. This means catering to customers by giving them options they want – like text payments. Text billing and other customer-centric tactics (user-friendly workflows, preferred communication channels) boost payments to improve your bottom line among younger customers.Using New Communication …
Credit Card Compliance: Marriott Credit Card Breach Lessons
Last updated March 2023 Beginning as early as 2014, Starwood hotels, now owned by Marriott, experienced a massive credit card data breach reportedly at the hands of Chinese hackers. The data breach may have exposed the personal information of as many as 500 million guests of the hotel chain.Impact of a Credit Card BreachOnce the news of this breach became …
How To Comply with EFTA Regulation E: Legal Experts Explain
Last updated April 2023 Regulation E is a well-known, but often confusing regulation found within the Electronic Fund Transfer Act (EFTA). The EFTA was put in place to protect consumers who make payments via an electronic transfer.What is the Electronic Funds Transfer ActThe Electronic Funds Transfer Act (EFTA) (15 USC 1693 et seq.) of 1978 is intended to protect individual …
PDCflow Announces Patent on Technology for Secure Payments
Ogden, Utah — PDCflow announces partnership with US Patent owner Zukunftware, LLC for management and licensing of newly patented technology. The patent (US patent no. 9,799,029), specifically written with credit card payments in mind, allows companies using the technology to greatly reduce PCI compliance requirements by removing the credit card information from the company’s environment and storing and processing the …
PDCflow Sponsorship Benefits Elderly HealthCare Facility and Local Youths
Nearly two million elderly spend time in nursing homes each year, isolated from their friends and family. PDCflow and DAKCS understand that those in these nursing and hospice centers often feel lonely while receiving necessary care. Socializing with residents of healthcare facilities can make a drastic difference in their days, as many employees within our companies have witnessed firsthand. “Spending …
PDCflow Begins Partnership With ACH Vendor Payliance to Enhance Portfolio of Client Service Offerings
PDCflow is excited to announce Payliance as a new partner and ACH Gateway. The partnership offers PDCflow customers yet another avenue to utilize easy, trouble-free payment processing for their businesses. PDCflow has worked extensively with the Payliance team to develop the best process to secure an ACH account for clients and ensure they are set up with the appropriate ACH …
Comtech Collect! and PDCflow Announce Partnership to Offer Integrated Payments and eSignatures
Comtech, producers of Collect!, credit and debt collection software, and PDCflow, payment and esignature software, have partnered to create an integrated and seamless payment processing and payment authorization service. “PDCflow is excited to work with Comtech on this new opportunity,” said Matthew Snedden, COO of PDCflow. “Both our payment services and our esignature solution were designed for the debt collection …
PDCflow Welcomes Jeremy Knapp to the Infrastructure Team
With the role of technology growing in business, the infrastructure team is a vital part of any company. When your business is built around software consumers trust and rely on, the need for a solid development team is that much greater. PDCflow is excited to announce a valuable new addition to our company, infrastructure manager Jeremy Knapp.In this position, Jeremy …
PDCflow and DAKCS Software Team Up for the YCC’s Spirit of Giving
This past Christmas season, PDCflow and DAKCS Software partnered in order to support the efforts of Ogden, Utah’s local non-profit, YCC’s Family Crisis Center. Collectively, both companies sponsored a family of 4 children who were living at the Family Crisis Center with their mother, providing new winter coats, clothing, and toys from each child’s wish list participating in YCC’s Spirit …
