Now you can get competitive insights that will allow you to ask better questions for improved results and operations. Join us today, Jan. 26, for a webinar with ACA leaders who will explain how to use the Benchmarking Intelligence platform and answer your questions.
01/25/2023 12:15 P.M.
4 minute read
Do you ever wonder how your unit yield or liquidation rates stack up against others for a particular vertical? Do you wonder if the trends you’re seeing are also being experienced in the whole market? Wonder no more—ACA International has these answers!
Our Benchmarking Intelligence database provides critical market information for ACA company members, including third-party collections, first-party servicing and asset buying metrics. This new self-service tool allows U.S. member companies to compare their own performance against a variety of other member companies on an anonymous basis to help guide your strategic decision-making, with the expectation of enabling even greater profitability.
Get vital statistics on average payments, accounts balances and liquidation rates for specific collection markets, including credit cards, health care, student loans and more.
“We are very excited to be able to help members benchmark against other agencies,” said ACA Incoming President David Williams. “Data is powerful and leads to good business decisions that can save expenses and drive revenue. The incredible work of ACA staff to identify an outside organization that allows for the data to be completely confidential is key to making this a successful endeavor for ACA and our members.”
ACA members may remember the previous incarnation of this service, Top Collection Markets Survey, that we offered a few years back in PDF form. We’ve taken the premise of that publication and juiced it up with today’s technology, making it easier than ever to participate and mine valuable data. Plus, it will have even greater accuracy and relevancy due to the new design and process, and the data will now be available quarterly to those who participate!
Whether you’re looking to diversify into new markets or benchmark existing markets against your peers, ACA’s Benchmarking Intelligence database has the information you need.
“In my 35+ years with ACA, this is one of the most valuable services that ACA has ever offered its members,” said ACA Chief Operating Officer Ted Smith. “Our member services team continually gets calls from members seeking comparative collection agency operational data. With the Benchmarking Intelligence database, ACA company members who participate will have this information at their fingertips on a quarterly basis.”
Data is collected and compiled by market vertical on a quarterly basis. Tracked datapoints include:
- Unit yield
- Gross collections
- Self-service percentages
- Non-legal and legal recovery percentages
- Net income
- Number of employee collectors
- Number of payments
- Payments by type
- Settlement costs
- And so much more!
Markets covered include:
- Health Care (Hospital, Clinics and Ambulance separately)
- Telecom & Utilities
- Banks and Finance Companies
- Student Loans (Federal and Private separately)
- Credit Cards, Banks, Credit Unions & Retail
- Property Management
Options for first-party collections and debt buying are included as well.
Robust Security & Guaranteed Anonymity
Through ACA’s outside vendor, Dynamic Benchmarking, industry-leading measures are taken to secure all data. Dynamic Benchmarking provides benchmarking technology for nearly 100 prominent associations.
Only individuals on file with the Benchmarking Intelligence database will be able to view the deidentified data from your firm—and even your own data is protected within your own organization. All data is hosted by Dynamic Benchmarking. ACA does not house the data supplied by participants and has no access to it.
Dynamic Benchmarking has purpose-built a platform to anonymously, safely and securely collect performance and financial information so that it can be compared anonymously. Companies providing data will be kept confidential and anonymous and will not be able to be identified by other users.
Participating companies can compare their data against other companies by tier for Tiers 1-6. Due to the more limited number of larger agencies, Tiers 7-9 are grouped together for comparison purposes—a tool to further ensure anonymity. In addition, members will not be able to compare their data against other members located only in their own state.
We are complying with Federal Trade Commission standards, which require benchmarking data to be aged at least 90 days. So, for example, data from the second quarter can’t be reported on until at least Oct. 1. No reports will be released until at least five members have responded in order to comply with federal antitrust guidelines—which also supports ACA’s goals for anonymity.
This is a free, members-only initiative. Only companies that participate will be able to access the benchmarking data.
ACA company members who agree to participate in the Benchmarking Intelligence database will be provided with training on how to input and access their data as well as how to view deidentified data.
If you want to participate, reach out to ACA’s Member Services team here to request access. The platform is only available to ACA Company Division members who have signed an agreement. You can also read more on the new Benchmarking Intelligence page on our website.
ACA CEO Scott Purcell, President Courtney Reynaud, Incoming President David Williams and Board Member Tim Haag will present an overview of this new tool exclusively for ACA members today, Jan. 26, at 11 a.m. CDT. Register here.
If you have executive leadership updates or other member news to share with ACA, contact our communications department at [email protected]. View our publications page for more information and our news submission guidelines here.