Maintaining Debt Collection Diplomacy While Collecting for Government Agencies
As we start the fourth quarter of the year, we find ourselves reflecting on how debt collection for government agenci...
Accounts Receivable Management
As we start the fourth quarter of the year, we find ourselves reflecting on how debt collection for government agencies is particularly challenging. The debt collection agency must maintain the highest standards for a positive citizen experience while still managing the complexities of a bureaucratic setting.
TSI is particularly accomplished in this area, having spent decades conducting debt collection in a variety of settings, including debt recovery for government agencies.
This article looks more closely at the art and science of dealing with taxpayers, tolling customers, or defendants when undertaking debt collection.
Debt Collection and Citizen Diplomacy
The IRS and other government agencies can suffer from negative publicity just like any other public or private company. Collecting on past due debt comes with built-in challenges.
Whether you’re a government agency or a commercial business, the goal is to effectively collect on debts and receive positive ROI from the efforts. At the same time, it’s important to keep your customer or citizen’s data secure and maintain their trust. Providing a sense of security, protection, and trust is the key to building positive relationships and establishing a stellar reputation.
Government agencies are not always successful in their efforts to collect on past due debts.
Government and private and public agencies all struggle to keep citizens data safe in an era where cyber security breaches seem to happen every week. So, the challenge is three-fold for any enterprise organization:
- Collect on past due debt without destroying the relationship.
- Be effective in your debt collection process while remaining compliant.
- Keep your citizen’s data secure by using state-of-the-art security protocols and equipment.
There are many complexities related to pursuing debt collections in today’s social media-driven world. The good news is, TSI has the technology infrastructure needed to ensure the security of data and that same innovative technology can be leveraged to help government agencies and other complicated industries recoup on past due debts.
Lessons Learned for Government Debt Collection
Small collection agencies often do not have the analytical horsepower to run sophisticated algorithms on the target audience and their likelihood of payment. Too, these firms run the risk of data breach, as they simply have not invested in the technology that will keep sensitive data files safe. With more than 35 years of tax collection experience for more than 30 state governments and cities, and with over 150 court clients, TSI has the experience to handle these kinds of delicate, intricate debt recovery cases.
Our three-pronged approach includes:
- Technology and information systems that are state-of-the-art, giving our ARM Specialists the tools they need to succeed.
- Data analytics designed to predict the likelihood of citizen payment based on sophisticated algorithms.
- Compliance and cyber security with automated controls built into every level to detect and mitigate the risk of data breach.
These high-level tools are combined with a fully-trained staff able to use a diplomatic and respectful approach to every past due account, no matter the debt type. To learn more about how to optimize your government agency’s revenue, contact us today.
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