Jessica Hearn, CEO of certified women-owned business Universal Fidelity LP, shares what she thinks you should know about the certification process.
3/19/2021 9:00
Jessica Hearn has worked in the accounts receivable management (ARM) industry for nearly 25 years and is now the majority owner and CEO of Universal Fidelity LP (UFLP), a professional call center and collection agency. Recently, she went through the process of becoming a women-owned certified business and now is sharing what that process was like for her and her company.
Q: What was your motivation for becoming a certified women-owned business?
A: I wanted to take the opportunity for government contracts and the allocation they set aside for women-owned and other diverse certified companies. UFLP’s 30 years of experience in the ARM and call center arena along with the women-owned certification can help drive opportunities in the RFP and contract process.
Q: How did you start the process of becoming a women-owned certified business?
A: At UFLP, we began by educating ourselves on the different avenues a diverse company could take in seeking certifications and registrations. There are many certifications diverse companies may obtain along with registrations. Finding the right vendors drove the decision for me on where to register and become certified.
Q: What is the biggest challenge you faced in the process for becoming certified?
A: The biggest challenge is the time constraints of the registration process. I could outsource this to a staff member, but the process includes many questions that a regular staff member cannot answer. Each entity has different requirements to submit for certifications, and since I am the majority owner, there are many personal questions for me as well. There are also follow up questions, interviews and documentation requests and, once certified, there is also a continual renewal process.
Q: What benefit will this certification provide for you and your business, specifically in the ARM industry?
A: There are 30.2 million small businesses in the U.S. as of 2018, and only 8 million are owned by diverse populations, according to the U.S. Small Business Administration (SBA.gov). When contracting with large corporations or government agencies, many request diversity inclusion or Historically Underutilized Business (HUB) certification. We know that unpaid balances exist for companies we work with and that ARM industry companies are an essential part of recovering these funds to keep pricing and inflation down for Americans. Acquiring HUB certifications will give UFLP additional opportunities with direct contracts as well as potential sub-contracting opportunities.
Q: What advice would you give other women who are thinking about pursuing a women-owned business certification?
A: I would evaluate and ask a few questions before you begin the certification processes. Do you have a target audience regarding specific debt and contracts you believe will have been set aside for HUB certification? Does your current structure allow for an easy transition into a contract for those targeted receivables? Do you have the time to manage the process of the certification process? Asking these questions can help centralize the certification process.
Q: What else do you think readers should know about the process for becoming a women-owned certified business?
A: There are several online resources that can help guide and educate you in the process (I found SBA.gov to be very helpful). What it cannot do is fill out all the registrations and gather and upload all the documents. Organizing your time and the process with the target areas you would like to focus on will help you get started and determine the direction you want to go. There is an overwhelming number of registrations for small businesses, HUB-certified companies and diverse companies. Make sure you put your efforts toward the registrations that your company specializes in and can best fulfill the needs for entities seeking ARM industry services.
Learn more about the women-owned business certification process in this Collector magazine article.
If you’re interested in learning more about networking, mentoring and events for women in the ARM industry, check out ACA’s Women in Collections Resource Council (WICRC).
The WICRC is hosting a meeting during the 2021 Washington Insights Virtual Fly-In April 22. Members Fran Fisher, business development manager at Payscout, Pauline Kussart, president of The Stark Collection Agency, and Anita Manghisi, IFCCE, president of Independent Recovery Resources Inc., will moderate a discussion with women leaders of the U.S. House of Representatives.
At ACA IGNITE, the WICRC will host session titled “Coffee and Chat: Shaping Your Career Through Mentoring” March 24. Join the WICRC as they discuss the power of strong relationships and how mentoring impacts our community. Connect with like-minded professionals to learn more about staying connected and cultivating relationships during these challenging times and beyond!
Registration for both events is open now.
Do you know a member you would like to see featured in ACA Daily’s Member Spotlight or Collector magazine’s Origin Story? Would you like to share your story? We are also looking to highlight our international members and new members of ACA. Simply reach out to our communications team at [email protected] with your ideas. We’d love to hear from you!