Whatever type of business you’re running, when it comes to maximizing revenue and providing outstanding customer service at the same time, an IVR system is the perfect solution. While it might be old technology, the latest tech has turned the Interactive Voice Response system into an impressive communication tool that can be indispensable in the collection of accounts receivables.

President Donald Trump signing the Economic Growth, Regulatory Relief and Consumer Protection Act into law on May 24, 2018. So, what does this mean for credit unions? The latest expectation from the industry is that the sector will see reduced regulatory requirements. This could be very good news in terms of possibly expanding credit union payment services that could help prevent more small-scale financial organizations from going under in the competitive marketplace.

In the highly technological world of the 21st century, we are living in an environment where we can simply tap an app and have food delivered or go online and pay our bills in the blink of an eye. Nobody needs to carry cash anymore. If you want to buy a coffee, you can simply order it on an app and pay for it remotely. If you keep forgetting to pay your rent or utility bills, no worries. Just set up automatic payments and carry on forgetting. From Netflix to car insurance, more Americans than ever before...

Back in the 1980s, it’s fair to say that the world of commercial collection was a very different one than the one modern debt collectors face today. With non-negotiable rates, low costs on legal accounts, and no such thing as a rate reduction, it was certainly a highly lucrative time for the commercial collection industry. However, with the rise of cutting-edge technology and convenient online payment processing systems, the collections landscape has changed almost beyond recognition, forcing...

At the present time, the good news for urgent care providers is that its market holds a strong financial position, with further growth expected in the next couple of years. Nevertheless, despite this being the case, urgent care centers still need to take care when it comes to ensuring their long-term success since mistakes and errors with patient billing solutions can end up being surprisingly costly to the organization – not only in financial terms but also in terms of reputation. Adhering to the latest...

The human body is a complex thing, and any healthcare provider is aware the expected rarely happens. No matter how hard you work to make sure your pricing can be understood by your patients, variables will always come into play. From new lab discoveries to unexpected complications arising at the last minute, there are all kinds of issues that may arise that can make pricing transparency a feat that is nearly impossible to achieve. However, when it comes to streamlining payment solutions for doctors and...

• Fourth annual Financial Services Industry survey results available now for complimentary download
• Top factors cited as critical for success are growing member base and customer retention
• Majority of financial institutions now offer choice of payment options; finds continued demand for web, mobile and text payment technologies

Phoenix, Ariz. – August 24, 2018 BillingTree®, the leading payment technology provider, today announced the key findings of its 2018 Financial Services Operations and Technology...

As is the case with most problems, the most effective way to prevent issues with debt collection is to nip them in the bud before they appear. However, failing this, the next best solution when it comes to B2B collections best practices is to spot the problem at an early stage and address it as quickly as possible. Business owners often hesitate to turn nonpaying clients over to collection agencies. However, if a debt goes uncollected for as long as seven months, the chances of receiving the money owed...

While many credit unions consider changing their merchant account provider, confusion over how to go about it can delay them from making the switch. Hidden charges, high fees, lack of customer support, and processing difficulties are all reasons cited by credit unions for wanting to make a change in provider. But, they also worry about how to guarantee they are not making another costly mistake. This, therefore, can result in a lack of action. There are many providers of card services for credit union...

One of the trickiest things about healthcare collections is making difficult telephone calls since anything that involves money (and often very large sums of money) has a high chance of being emotionally charged. Many medical practices dread having to deal with this kind of conversation. However, it happens surprisingly often. If you are required to call a patient and ask him or her to make a payment on an outstanding medical bill, it can be extremely challenging to know what you should say and the best...