Debt Collection Procurement Intelligence
The debt collection services category is anticipated to grow at a CAGR of 9.9% from 2023 to 2030.
Customers nowadays are becoming more and more conscious about their finance. Rising financial stress due to inflation rate hikes, and supply chain issues are resulting in increasing consumer debt, which in turn is driving the demand for category. According to the Consumer Credit report by the Federal Reserve, outstanding consumer credit was valued at USD 4.7 trillion at the end of October 2022. Additionally, the adoption of automation in gathering and payment follow-ups, and the rising multi-channels of communication with customers are the trends in this category.
Order your copy of the Debt Collection category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Debt Collection Procurement Intelligence Report Scope
The Debt Collection category is expected to have pricing growth outlook of 6% - 7% from 2023 to 2030, with below pricing models.
- Contingency Fee
- Flat Fee
- Service based Pricing
- Price for services offered
- Competition based pricing
Supplier Selection Scope of Report
- End-to-end service
- cost and pricing
- security and compliance
- service reliability
- scalability
Supplier selection criteria of Report
- Collection method
- industry expertise
- technology and tools used for collection
- data security
- client relationship
- track record and reputation
- regulatory compliance
- others
Debt Collection Procurement Intelligence Report Coverage
Grand View Research will cover the following aspects in the report:
- Market Intelligence along with emerging technology and regulatory landscape
- Market estimates and forecasts from 2022 to 2030
- Growth opportunities, trends, and driver analysis
- Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
- Porter’s 5 forces
- Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
- Engagement and operating models, KPI, and SLA elements
- LCC/BCC analysis and negotiation strategies
- Peer benchmarking and product analysis
- Market report in PDF, Excel, and PPT and online dashboard versions
Debt Collection Procurement Cost and Supplier Intelligence
With customer payments becoming delayed and accumulating, businesses often struggle to allocate time for payment follow-ups, often realizing the urgency when it is already past due. Furthermore, this situation can divert their focus from primary business objectives and lead to avoidable expenditure of both time and finances. Opting to outsource the service, however, can effectively boost business efficiency. This approach aids in managing customers teetering on the edge of default while enabling them to maintain a stronger emphasis on their core pursuits. Outsourcing the collection service can offer various benefits such as saving collection time, lesser collection costs, and increased collection rate.
Furthermore, a changing factor in consumer behavior is the increasing focus on data privacy. Individuals obtaining loans prefer to prevent their private information from being exchanged among collection agents. As worries about data security and privacy rise, lenders will give more importance to adopting strong measures for safeguarding borrowers' personal details. Regulatory authorities are recognizing the hazards associated with storing, utilizing, and disseminating borrower data. Consequently, lending institutions will need to align with these concerns to establish credibility with their customers.
List of Key Suppliers
- Summit Account Resolution
- Rocket Receivables
- Prestige Services, Inc.
- IC System, Inc.
- Atradius Collections
- Kaplan Group
- PRA Group, Inc.
- MNS Credit Management Group (P) Ltd.
- Rozlin Financial Group Inc.
- Encore Capital Group.
Add-on Services provided by Grand View Research Pipeline:
- Should Cost Analysis
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
- Rate Benchmarking
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
- Salary Benchmarking
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
- Supplier Newsletter
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.
Browse through Grand View Research’s collection of procurement intelligence studies:
Enzymes Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
Cold Chain Logistics Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
