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Debt management has become one of the most challenging issues for businesses and public sector organizations.
High and volatile delinquency rates coupled with the need to maximize revenue and tax returns, and a fresh set of regulatory demands have created the 'perfect storm' for collections organizations, both external and internal.
At the same time, most collection teams have to tackle these issues while supporting group-wide programs to reduce costs. There is little funding available to invest in expanding and enhancing the collection organization, meaning there is an ongoing dependence on outdated technology platforms and processes.