ACA company members who entered their Q1 2023 data into the Benchmarking Intelligence platform received their quarterly comparison report this week. Are you one of them?
07/20/2023 10:00 A.M.
3.5 minute read
The results are in, and now ACA International company members participating in our Benchmarking Intelligence platform can review the aggregated data and take action to improve their business.
The Benchmarking Intelligence tool allows participating U.S. member companies to compare their own performance against a variety of other participating member companies on an anonymous basis to help guide their strategic decision-making, with the hopes of enabling greater profitability.
Each quarter, ACA International company members who sign up for our Benchmarking Intelligence platform and enter their data by the deadline will receive a free benchmark report with anonymous, aggregated industry information, allowing them to see how their operations stack up against those of their peers.
This information gives you unique insights that you can’t get anywhere else. Not only will you see the standard report, but you will be able to create your own comparisons using a variety of criteria. For example, do you want to see how your results compare to companies of the same size who also use text messaging? You can do that!
Here are some specific examples:
- Curious about how your results compare to companies of the same size who also use text messaging?
- Want to know the average gross collections of your peers serving the health care market?
- Looking to benchmark your settlement costs to those of other ACA member companies of the same size?
You can do that!
You can sign up to participate any time, but to receive the next quarterly comparison report, you will need to enter your Q2 2023 data into the platform between Sept. 1-30.
Remember: Only participants who have completed their data submission will receive this intelligence report and be able to compare your data in the system—on a large number of comparison criteria. If you’ve signed up but not completed your data upload, consider this your motivation to complete your submission today!
To review the data collection timelines, check out the chart on this page.
“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 Benchmarking Intelligence, ACA company members who participate will have this information at their fingertips on a quarterly basis.”
Ready to Jump In?
The information you can get from ACA’s Benchmarking Intelligence database can help you communicate value, keep up with industry standards and address areas of your business that may yield improved results.
The most important thing for you to know is that you can join any time (but data entry windows are only open at certain times).
Note: If you have signed up to participate in the platform but have not entered your data, you will not be able to see the comparison report when it is released. So take the next step and input your data today!
Get Answers to Your Benchmarking Intelligence Questions
For a video explaining what this platform is and how it works, ACA members can watch a recorded webinar hosted by ACA CEO Scott Purcell, President Courtney Reynaud, Incoming President David Williams and Board Member Tim Haag.
To watch it, go to the Benchmarking Intelligence page on ACA’s website, make sure you are logged in (only logged-in members can watch the video), and scroll down to the Webinar Recording box.
If you’re looking for an easy-to-read document, you’ll want to read through this FAQ, which explains who is eligible to participate, how to get started and how this can benefit you.
What is in the Benchmarking Intelligence Platform?
Datapoints that are collected and reported by market vertical 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!
Learn More
You can learn more on the Benchmarking Intelligence page.
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.
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.