Wednesday, 25 July 2012
Euro banks sitting on £1.5trn non-performing loans
w: http://www.tracehunter.co.uk
t: 0161 713 2213
e: info@tracehunter.co.uk
Monday, 23 July 2012
The Importance of Compliance
Compliance has moved from a general term banded around by
firms to a highly specialised subject. Over recent years compliance has
developed in to its own organisational department within many of the best DCA’s.
However, every member of a team has their part to play in a compliant organisation.
There is also now an important need to show evidence of doing the right things.
The arena of compliance can be broken up in to three areas of consideration:
o
Governance
– This is the overall management approach to compliance,
with Directors having ever greater responsibility for poor compliance, governance
considerations are becoming ever more important. Firms with compliant cultures
have weathered the economic crisis better than those who didn’t.
o
Risk
– The process of identifying risks and putting processes in place to manage or
prevent them. It is at an operational level where risks are easiest to identify.
This is why it is important to have feedback systems in place so anyone within
a company can report their concerns.
o
Compliance
– Is the idea of conforming with the industry rules and regulations. However,
as time goes on there are ever more rules and regulations to meet.
There
is a need to plan for all areas of your business, with some high-risk items being
outsourced to reduce the risk of poor compliance. It is important to be
confident that you are compliant as bad practice attracts unwanted media
attention in turn leading to reputational risk through complaints. Therefore it
is important to have protection in place in the first place, even if there is a
cost to its implementation as the long-term savings could actually save an
organisation.
(Adapted from Credit Today, Summer, 2012)
T: 0161 713 2213
W: http//:www.tracehunter.co.uk
Friday, 20 July 2012
Thursday, 19 July 2012
tracehunter v6 - System Background
Over the past 12 months we have
taken onboard general feedback from the industry. This feedback indicated to us
that as a result of the current economic climate the collections industry was drastically
changing.
We needed to understand this
change in more detail. Therefore chose to undertake a research investigation in
partnership with Manchester Metropolitan University Business School where key
issues were identified. Finding for example, that 64% of those questioned
believed that trace was getting tougher than ever before. This was due to
numerous reasons from debt costing more to collect, therefore squeezing the
price of trace, to current systems lacking the functionality for required
productivity.
We also identified that there is
plenty of debt to collect. However, to collect this debt is becoming harder and
more expensive. Trace is becoming an ever increasing part of the collection
process. The number and quality of data sources has improved and the right
software can drastically improve efficiency. There is a general need to reduce
waste of resources.
The research backed up the
industry feedback. To survive in this climate, trace companies, departments and
functions have to improve their efficiency and productivity. Therefore we undertook a review of
tracehunter to identify enhancements to support these improvements to
efficiency and productivity.
The five key areas of change
that have been made to tracehunter to support the needs of our users:
·
Faster Processing
·
Automation
·
Improved Agent
Workflow
·
Data Capture
·
Time & Cost
Monitoring
To find out more call today on 0161 713 2213 or visit http://www.tracehunter.co.uk
Wednesday, 18 July 2012
Tuesday, 17 July 2012
The P&A Group appoints lawyer to increase efficiency of debt collection
http://www.ccrmagazine.com/index.php?option=com_content&task=view&id=7274&Itemid=33
Email: info@tracehunter.co.uk
Phone: 0161 713 2213
Website: http://www.tracehunter.co.uk
Thursday, 12 July 2012
Join UK Trace Today
tracehunter the UK’s leading supplier of trace case management
software have just launched a new general purpose group for the Trace
and Collections industry on LinkedIn.
The group is open to anyone who works in the Collections or Trace industry and offers the latest news, discussion and opinions.
The group is open to anyone who works in the Collections or Trace industry and offers the latest news, discussion and opinions.
If you are having trouble, drop us an email to info@tracehunter.co.uk and we’ll be able to answer any questions that you may have. Alternatively give us a call on 0161 713 2213 and we will be happy to help.
Phone: 0161 713 2213
Email: info@tracehunter.co.uk
Website: http://www.tracehunter.co.uk
Tuesday, 10 July 2012
Friday, 6 July 2012
History of Debtor Trace – What is Your Opinion?
The importance of trace has grown, with upwards of 70% of collection
cases now requiring some level of trace. Over the past 10 years tracehunter
have seen a general shift within the industry. In its simplest form trace has gone
from a reliance on bulk letter campaigns to mass dialler campaigns to a time
where there is a heavy reliance on web based data services. Do you agree with
this opinion? How have you seen trace change over the past decade?
0161 713 2213
Monday, 2 July 2012
TRACEHUNTER COMMENT ON - THE GUARDIAN ‘BREADLINE BRITAIN’
A recent investigative piece in
the Guardian which ran over last week, titled ‘Breadline Britain’, investigated
and analysed UK population data with regards to spending power. It shows that
not only 5.5million working aged adults live in relative poverty, but nearly a
1/3rd of the working aged population are struggling even though in
most cases they are in work. This figure is potentially higher, with a poll on
the Guardian website asking the question, ‘Do you feel on the brink of
financial disaster?’ and 55% of respondents believing they are. The simple fact
is that living standards are falling as disposable incomes fall.
“Almost seven million
working-age adults are living in extreme financial stress, one small push from
penury” (The Guardian, 2012)
With £18billion in welfare cuts
still coming in to force it is likely that times are going to get tougher in
the months to come. The facts speak for themselves, 2011 saw the sharpest fall
in middle incomes since 1981 (The Institute for Fiscal Studies). Conversely
this is not a recent phenomenon the decline has been over a longer period of
time. Wages have been flat since 2003 and since the 2nd quarter of
2008 inflation has out stripped wage rises, therefore meaning income levels
have been falling.
The other issue is “a move into
work no longer means a move out of poverty” (The Guardian, 2012), long gone are
the days when a job would guarantee a particular standard of living. The risk
of falling in to poverty in the UK is actually 1% higher than the European
average, with many being in a situation where just one bill will tip them over
the edge even while working.
With this economic backdrop and
such volumes of UK residents struggling is it any wonder that some DCA’s are
finding it tough? The question must be raised what is to be done about it? This
bleak economic picture does not seem to show any signs of improving, therefore,
it is important to make the most of the resources that there are available. tracehunter
have taken this research on board and are currently in the process of
investigating ways of using geodemographic data to help to better tailor the
trace process.
0161 713 2213
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