Use insights from ACA’s free, members only Benchmarking Intelligence platform to guide your business into the future. The next data submission period ends April 15—get started today!
03/19/2024 9:30 A.M.
3.5 minute read
April 15 is tax day, and now it’s also the new deadline for ACA International collection agency members to complete their Benchmarking Intelligence submission. Remember: When you submit your data, you’ll get a free benchmark report. This is how you can get actionable data to drive a higher profit margin in your business.
Each quarter, ACA company/collection agency members who sign up for our Benchmarking Intelligence platform and enter their data by the deadline receive a benchmark report with anonymous, aggregated industry information, allowing them to see how their operations stack up against those of their peers.
The Benchmarking Intelligence database provides critical market information for ACA members (including discrete metrics for third-party collections, first-party servicing and debt buyer models). Comparing your agency’s performance to that of your peers, anonymously and by business vertical (e.g., health care, utilities, credit cards, etc.), can help you identify potential gaps, highlight achievements and more.
Meet Our Vendor Partner: Dynamic Benchmarking
ACA’s Benchmarking Intelligence platform is hosted by our outside vendor, Dynamic Benchmarking, which provides benchmarking technology for nearly 100 prominent associations.
We recently chatted with Nicole Succop, an account manager with Dynamic Benchmarking, who explained how her company works and how she helps ACA members navigate the platform. Read that conversation right here.
Gathering the Data
Compiling and entering the required data into the Benchmarking Intelligence platform can take a bit of time, especially at first.
“You’ll probably want to create custom reports for this process—a task you’ll only have to do once that will make things much easier in the following quarters,” Succop said. “That will help to cut down on the amount of time spent searching for some/any of the data.”
Succop also encouraged ACA members to reach out to their collection platform provider, who might be able to help set up custom report parameters to match the data being requested in the Benchmarking Intelligence platform.
For example, Beam Software is helping its customers gather the data from their collection database to populate the Benchmarking Intelligence tool by running reports on their system for the various requirements.
“If you are a Beam client and wish to participate in the Benchmarking Intelligence project, please reach out to our Support Department to make those reports available in your Web Portal,” said Tom Noble, general manager at Beam Software.
Get Started
If you signed up to participate but have questions about how to get going, this article contains a handy week-by-week checklist to help you get started. Read through it to get a sense of what is required.
If you haven’t signed up to participate yet, reach out to ACA’s Member Services team here and let them know that you want to participate in the Benchmarking Intelligence program. (You must be an ACA Company/Collection Agency member to participate.) You’ll need to sign and return an agreement before you are granted access to the secure platform.
Remember, subscribe to ACA Daily and Member Alerts under your My ACA profile when logged in to acainternational.org to receive updates on the ACA Huddle.