Optimize your outsourcing efforts: Vendor management best practices

For many financial institutions, outsourcing critical and time-consuming collections efforts is key to saving money and reducing the strain that comes with hiring talented collections teams, especially in a historically tight labor market.

Taking advantage of outsourced collection services can be a cost-effective option if your institution is striving to manage rising delinquencies and trim expenses associated with the collections process.

The top benefits of outsourcing collections include:

  1. Reduced Collections Costs
  2. Reduced Delinquency Rates

 

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