Our new state-of-the-art benchmarking platform can show you how you stack up against your peers, quarter by quarter. Ready to get started? The first data collection window closes Feb. 28, but you can join any time.
02/06/2023 1:45 P.M.
3 minute read
ACA’s Benchmarking Intelligence database provides critical market information for participating company members. This new self-service tool allows U.S. member companies to compare their own performance against a variety of other participating member companies on an anonymous basis to help guide your strategic decision-making, with the hopes of enabling even greater profitability.
Right now, the platform is collecting data for the third and fourth quarters of 2022. Why these quarters? 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.
The first data collection window closes Feb. 28, but you can join any time. Even when the platform is not actively collecting data, participants can still get into the system to see the questions and the type of information you would need to provide, but you won’t be able to actually enter data until the next collection period starts.
Here, we answer a few common questions about how to participate:
How do I log in to the platform?
First, you’ll need to contact ACA’s Member Services team here to request access. Once you’ve completed the signup form, you will enter the data collection platform via your personal user login on ACA’s Benchmarking Intelligence page.
ACA company members who agree to participate in the Benchmarking Intelligence database will have access to training on the ACA website on how to input their data (through either User Interface or EDI file) as well as how to view deidentified data.
Am I eligible to participate?
This service is only available to U.S.-based ACA company members and comes with no additional fee. Only companies that participate will be able to access the benchmarking data.
“Company members” are defined on our Membership page as: Businesses or law firms that perform services such as third-party debt collection, third-party debt collection litigation, billing and outsourced first-party debt collection, asset buying, or judgment recovery and are located in the 50 United States.
How do I know when to enter or review data and for which quarter?
Reference this handy chart, which is also posted on our FAQ (make sure you are logged into our website so you can see it):
Is my data confidential?
Survey responses are only released as aggregated data that cannot be traced back to specific companies, facilities, or individuals. To ensure data anonymity, all results are aggregated and a predetermined minimum number of responses are required for results to be displayed, even when filters are applied. Individual responses are not accessible to ACA staff. Under FTC rules, if less than five members complete the section for a specific criteria, comparative results can’t be displayed. That’s what it’s so important all ACA members participate in this platform.
What will be 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!
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
- Government
- Property Management
Options for first-party collections and debt buying are included as well.
Learn More
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 learn more on the Benchmarking Intelligence page on our website.
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.