October, 2018

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The Economic Impacts of the Debt Collection Industry

Credit Management Company

The common perception of the debt collection industry in modern times is almost overwhelmingly negative. Collectors in pop culture are often represented as callous, predatory characters who harass poor families and individuals when they're most vulnerable. While a very slim number of collectors may act in this manner, this portrayal is almost entirely false.

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What Are Fraud Analytics?

Fico Collections

The recent fascination with artificial intelligence and machine learning has made some of us ( naturally intelligent) humans confused about the role that these technologies play in the broader field of fraud analytics. In this blog post, I explain their usage and particularly how they will operate in the open banking revolution. . Source: FICO Blog.

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Sell More to Offset Bad Debt?

Receivables Control

How many more sales must you generate to offset bad debt? With the recent pullback in the stock market, it reminds us that the economic winds are ever-changing. You may think twice about your credit policy if your sales team is chasing poor credit risks in a volatile economic environment. We wanted to provide you information and a helpful tool to quantify the impact of bad debt and the sales volume necessary to offset it.

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Write This Down: Content Marketing is Cheap and Effective

NCBA Law Practice Management Blog

Despite changes to advertising rules, lawyers have marketed themselves in much the same way for generations. You find an office space, you go out and network, you do good work, and more work comes in. But, as consumers have become more discerning, and as law firm choices continue to proliferate, lawyers continue to stick with the same marketing strategy they always have.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.

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How To Get Paid On Time And Ensure That Good Paying Customers Stay That Way

AGA

As a 3 rd party collection agency, we have heard it all when it comes to why once good paying customers that were easy to work with are now past due, no longer ordering and unresponsive to your attempts to contact them. What went wrong? Why did a customer with whom you have been doing business with for quite some time and thought you had a good relationship with start slow paying and now is not paying at all?

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OMG! Texting and Debt Collection - What You Need to Know

Credit Management Company

More people than ever before are using text messaging to communicate. According to research by Nielsen, Americans text twice as much as they call. Debt collection agencies are doing everything they can to take advantage of this trend, but they need to ensure their practices adhere to federal law in order to avoid penalties. Collectors can accomplish this by having the right terms and conditions.

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The Customer Is Always Right: How to Develop Consumer-Friendly Pricing for Law Firms

NCBA Law Practice Management Blog

Modern law firm consumers are an entirely new breed. They have more law firm options than ever before, and aren’t afraid to use them. They are committed to mobile search. They are more cost-sensitive than any consumer base in modern history. Absent a near-instantaneous response from a potential lawyer hire, they will immediately move on to the next attorney on their list.

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The Strong Silent Type: Password Managers Bridge the Gap Between Convenience and Security

NCBA Law Practice Management Blog

Do you reuse the same passwords over and over again? Or, do you find yourself creating ever simpler passwords, so they’re easier to remember? Do you instead use really complicated passwords that you keep on sticky notes around the office? In the short run, th ese are easy solution s to password management; but, in the long term, it’s a security loophole that’s bound to come back to bite you.

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Sock It To ‘Em: Google Penalizes Non-Secure Websites

NCBA Law Practice Management Blog

Law firms depend on their websites to generate clients. For most law firms, if the website is not the primary driver of referrals, it’s confirmation to your potential clients that you’re an invested business owner, and is perhaps the first avenue through which you begin to build trust with consumers. But, if you didn’t update your website this Summer, there’s something you should know.

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.

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What Is Law Practice Management Consulting?

NCBA Law Practice Management Blog

Law practice management consulting is, essentially, business management consulting for law firms. That may sound basic, but law practice management consulting is a highly specific genre, that contemplates the special components related to law firm management that do not attach to running other small business, including the ethics rules that lawyers must adhere to.