ACA Cast: Making a Difference in the Modern ARM Industry

The latest episode of ACA Cast highlights technology changes in the industry in member interview.

12/2/2020 12:30

What does it take to navigate the accounts receivable management industry today?

For Harry Strausser III, vice president of business development at Applied Innovation Inc., it’s all about change.

“I think we need to be open to change and we have to be open to technology and we have to have technological intellect,” Strausser said in a recent conversation with ACA International’s Director of Education Kelli Krueger on ACA Cast.

Strausser has an extensive knowledge of the industry going back to when his parents opened a collection agency when he was 12 years old and to his role as an ACA Certified Instructor.

The most significant changes Strausser said he’s seen in the industry are in technology and training.

Applied Innovation Inc. is a software company serving the ARM industry and Strausser explained how systems have come a long way since the days of using card files to log consumers’ accounts and payments.

With change in technology comes change in regulations, such as the Consumer Financial Protection Bureau’s debt collection rule, which Strausser said will open the door for use of new technologies, even with regulation of that use.

The bottom line? “Be proud to be a collector, be proud to be a player in this vibrant, robust industry,” Strausser said. “We don’t have as many players in the industry as we had before, but we are more important to business than at any point in time in the history of business. So, do know that every time you pick up a phone as a collector, every time you walk into a meeting as a manager, you’re making a difference. You’re making a difference not only for the businesses that you represent, but you’re making a difference for the consumers that are placed into your system that need help and guidance to navigate their financial lives.”

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