How Continual Learning Improves ACS Collection Services

Together – collections, recovery and loan portfolio optimization are constantly evolving fields. That’s why ACS is always seeking new insights and ideas. Ideas that improve our practices and help us bolster our efforts to boost client portfolio performance. Often this means looking outside of our own office to see larger industry trends and discuss the changing landscape with other leaders in our field.

Over our more than 25 years acting as strategic partners to our clients in the asset-based lending and lease finance industries, we’ve learned there is no one-size-fits-all solution for every client. So whether they need help with collections, recovery or full-cycle portfolio solutions, we’re ready to implement multi-layered solutions proven to boost portfolio performance for clients. 

This approach is consistently effective not just because of the flexibility and customizability of our processes, but because we are constantly on the lookout for conferences and other industry educational and networking events. 

How Conference Attendance and Community Involvement Lead to Better Collections Processes

ACS has earned a reputation for conducting business in complete accordance with the highest standards of ethical conduct and regulatory compliance. This commitment to doing the right thing and doing it well is made possible, in part, through our active involvement with the asset-based lending and lease finance industries. For us, conferences and the opportunity to engage with peers and partners have always been an essential part of our quest for continuous improvement. Put simply, if you’re looking for great ideas, emerging industry trends and exciting innovation, this community never lets us down.

A prime example of the value conferences bring to our collections, recovery and full cycle processes occurred in July of ‘22. Rick Borosky, the VP of Strategic Business Operations of ACS, attended a meeting held by ACA International (The Association of Credit Collections Professionals), where he is a member of the ethics committee. 

Rick attended a presentation held by industry legal and regulatory authority Dave Peltan, an attorney of Peltan Law, PLLC, which alerted attendees about important regulatory changes soon to take effect. These changes held significant implications for lenders and for companies that specialize in collection services both nationally and on a state-by-state basis like ACS.

After the meeting concluded, Rick reached out to Mr. Peltan, who then helped ACS develop new policies and procedures that ensured we were not just fully prepared for upcoming changes, but well positioned to maintain its leadership role within the industry. Proactive steps like these are made possible through conference attendance and engagement. The information we gather there helps us continue to meet the needs of our clients, no matter what regulatory, economic or industry changes occur.

Forecasting the Future of Asset Recovery & Collection Services

The world of asset management and credit & collections shifts with each passing year as new technology, legislation, and ideas make what was once thought impossible entirely practical. Our ability to effectively optimize loan portfolios benefits from the insights and understanding we gather in scheduled sessions, panel discussions, and the all-important spontaneous conversations with industry leaders and peers, where we often find the best ideas and opportunities for partnership. 

This trend continues. Just last month, the ACS team attended the ELFA Credit & Collections Management Conference in San Antonio, Texas, where we learned a lot more about the sectors that are experiencing the greatest stress and the sectors that are likely to be next. These lessons will be applied internally to help us prepare for the new challenges lenders face. Ultimately, leading to improved financial performance for ACS clients.