January is a time for resolutions and goal-setting. A new calendar offers a huge horizon fill with opportunity. AccountsRecovery.net asked veterans within the accounts receivable management industry to share their goals for 2022. Here is what they said:
Gordon Beck, Valor Intelligent Processing
My goal for 2022 is to continue to adjust to our ever-changing industry and to seek out the path to success through technology and people while growing a healthy, strong and happy business.
Now that my company is approaching our 3rd year, I want to broaden our horizons and take on more lines of business in the BPO sector as we continue to perform at a high level for our clients in the ARM vertical.
As we enter 2022 we are just shy of 1,300 employees and with the opening of my Wichita and Miami branches in January we have set a goal of 3,000 by the end of the the new year.
Heath Morgan, Malone Frost Martin
My work related goals are to continue to help add value and serve my clients in whatever their goals are from adjusting to Covid waves, work from home, Regulation F litigation, adapting and adopting to new technology solutions, and changing case law (and hopefully a favorably Hunstein ruling). In addition to that, I want to continue to help educate our companies and leaders in our industry on best practices and trends and topics wherever I can. On a more personal level, I plan to start a podcast with my 10-year-old son, and I’d like to read at least 8 books for the year. Finally, I also plan to run three more marathons in 2022 because I can’t have all of my goals be fun.
Pam Kirchner, BCA Financial Services
Our top goals for 2022 are consumer engagement and self-service capabilities. Our plan is to expand technology and processes to interact with consumers using the channels they prefer and messages that resonate with each consumer. In order to reduce dependence on staff, we will be improving the functionality of our IVRs and expanding capabilities for consumers to self-service on our consumer portal. And no doubt, we will continue to do everything in our power to improve employee recruitment and retention.
Diane Stamataletos, Debt Co Collections
For 2022, Debt Co will be focused on formalizing our growth mindset, optimizing customer contacts, cementing our expenses, and addressing changes in the shifting collections industry landscape. As a newer company with just 3 years since we acquired an existing agency, we have achieved nearly 200% growth by actively seeking and seizing all growth opportunities. As such, we will look to 2022 to formalize our growth, sales, and marketing strategies. Secondly, Debt Co will continue to build out our infrastructure and processes so that we can increase communications with our customers when and how they chose to communicate ultimately increasing collection rates. Thirdly, our company will switch from an investment mode and cement our expenses as a percentage of our net income to ensure future profitability stability and sustainability. Lastly, we will continue to build on our expertise in addressing the shifting industry landscape so that changes become business as usual rather than a fire drill.
Marc Bernstein, Balto
I’m deadset on doubling Balto’s top line in 2022 and releasing the next generation of Real-Time Guidance and Real-Time QA to the market. We have all of the people and resources in place to accomplish this, so it’ll come down to execution. I’m optimistic that 2022 will be Balto’s best year yet.
Shawn Farris, Phillips & Cohen Associates
Here are my goals for 2022:
- Embrace CFPB Reg F and maximize digital channel use; part of this will be educating clients on the value of the handoff letter allowing your agencies to engage in these channels immediately.
- To create a consumer-centric collection process utilizing today’s modern digital channels globally.
- To evolve our current multi-channel system to a proper omnichannel strategy.