LAS VEGAS — Conferences are really one of the best barometers that we have in the accounts receivable management industry. The mood and topics of discussion, not just in the sessions, but in the hallways and quiet corners of a hotel, will tell you just about everything you need to know about the state of the ARM industry. I’m here in Las Vegas for RMA International’s annual conference excited to see what people are going to be talking about and curious if the attendees think the industry’s glass is half-full or half-empty.
Looking at how big this conference has become in recent years, I’m not the only one here in search of answers. This event has become one of the most well-attended industry conferences and offers a great cross-section of representatives from across the ARM industry — debt buyers, debt collectors, collection law firms, creditors, and vendors.
Depending on which tea leaves you read, the industry is headed for a period of reduced collections because the economy is heading into a recession, or if there is a recession, it won’t hit the industry as hard as previous recessions have.
This industry has weathered a lot in the past few years — the COVID-19 pandemic, Regulation F, Hunstein, industry consolidation, changes to credit reporting, as well as bold and energetic regulators at the state and federal level just to name a few — but has survived every challenge while continuing to invest in new technology to make it easier for consumers to communicate and pay their debts.
I think that the industry is in the position it is because of events like these — which give everyone the chance to come together, share ideas, solve problems, and have a little fun together in the process. If you are here in Vegas, I am looking forward to seeing you.