*Support from Regal Technologies*

SAN DIEGO - Quality control is crucial to success, especially considering the overall state of the ARM industry: rough. Gone are the glory days of easier collections. Streamlined staffs, less paper and greater competition are three factors making training more important in ARM players’ operational plans.

While at AccountsRecovery.net’s event last week, a session devoted to operational efficiencies spent some time digging into collector performance. What struck me from the session was a comment made by Scott Cahalane, executive vice president - principal of Vision Financial Corp., on evaluating collection success. In short, he explained how a higher frequency of calls made per hour by a collector could still translate poorly for an agency. Why? A collector may blast through 20 more calls than a colleague, but have a terrible talkoff or only get bogus promises to pay. In other words, quantity doesn't always pay; skills do. What’s more of an effective KPI is monitoring a collector’s success rate.

Cahalane’s example is just one reason why a focus on training and improving employee skills is critical to agencies nationwide, especially with competition only getting fiercer. “If you are calling someone, someone else is to,” says Cahalane, explaining if the collector competitor is more talented, then he will get paid, not you. “Collections isn’t what it used to be,” he says.