CATEGORY

Debt collection Services

Report on top debt collection & debt purchase suppliers across several regions -APAC, US, UK, Africa

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Debt collection Services Market Monitoring Dashboard


Supply Demand

Understand the correlation between costs, margins, and prices impacting your category on a real time basis on Beroe LiVE.Ai™

Debt collection Services Industry Benchmarks


Savings Achieved

(in %)

The average annual savings achieved in Debt collection Services category is 6.20%

Payment Terms

(in days)

The industry average payment terms in Debt collection Services category for the current quarter is 63.8 days

Compare your category performance against peers and industry benchmarks across 20+ parameters on Beroe LiVE.Ai™

Category Strategy and Flexibility

Engagement Model

Supply Assurance

Sourcing Process

Supplier Type

Pricing Model

Contract Length

SLAs/KPIs

Lead Time

Supplier Diversity

Targeted Savings

Risk Mitigation

Financial Risk

Sanctions

AMEs

Geopolitical Risk

Cost Optimization

Price per Unit Competitiveness

Specification Leanness

Minimum Order Quality

Payment Terms

Inventory Control

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    Debt collection Services Suppliers


    7,046
    Total Suppliers
    223
    Diverse Suppliers
    66
    Normalized Supplier Rating
    Debt collection Services  Supplier

    Find the right-fit debt collection services supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    American Express Company
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

    dnb logo

    Up to 3 months

    1 9
    6
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    42

    100
    Limited (1)
    ESG Perfomance (/100)
    Environment
    85
    Social
    31
    Governance
    48
    6 Domains Performance (/100)
    Business behaviour
    39
    Human rights
    47
    Community Environment
    26
    Corporate governance
    54
    Human resources
    21
    Security Scorecard
    90

    Threat indicators
    B
    83
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    A
    97
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    B
    86
    Application Security
    Detecting common website application vulnerbilities
    B
    86
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    A
    98
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    amexglobalbusinesstravel.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    12
    Human Rights Issues
    0
    Production Supply Chain Issues
    2
    Environmental Non Compliance Flags
    14
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    26
    Fraud Issues
    3
    Labor Health Safety Flags
    3
    Regulatory Issues
    22
    Workforce Disputes
    0
    Sanctions
    1
    esg energy transition
    86
    Discrimination Workforce Rights Issues
    3
    esg controversies critical severity
    No

    Debt collection Services market frequently asked questions


    As per Beroe's analysis, global debt collection industry outlook is a combination of the following pointers: -- The outsourcing of debt collection to third-party agencies is higher in North America and the APAC region -- Rising household debt in Canada that surpassed the country's GDP a while back is expected to drive the third-party debt collection industry in North America -- APAC region banks have a higher tendency to outsource international debt collection activities

    Two primary constraints of the debt collection industry are: -- Increasing labor costs ' Debt collection is a labor-intensive process & salaries comprise nearly 30 ' 40% of the total cost. So, any increase in the labor cost will affect the profit margins -- Stringent regulations ' The governments are planning to impose strict debt collection industry regulation policies on the debt collection industry especially for matured regions like North America and Europe which are already bound by directives & acts like FDCPA, TCPA, and CCD.

    According to Beroe's report, increasing complexity of the regulatory environment across North America and Europe poses a big threat to the debt collection industry growth.

    According to the report, the highest market size is captured by North America at a valuation of $17.05 Bn followed by Europe at $7.58 Bn, and the Asia Pacific at the lowest valuation of $3.3 Bn.

    As per Beroe's analysis report, the following are the leading debt collection industry trends: -- There's a considerable increase in the tendency to outsource the in-house process of debt collection especially in the North American companies -- Final demand letter (an additional service for the debt collection industry) has seen a higher adoption rate among the mid-sized companies Invoicing (Transaction) verification (for checking the accuracy of debts) is expected to be lower in North America due to the higher internal efficiency of the creditors.

    Debt collection Services market report transcript


    Global Consumer Debt collection Services Industry Outlook

    • Outsourcing of debt collection to third-party agencies is higher in North America and APAC
    • Rising household debt in Canada was driving the third-party debt collection industry in North America. However, it is beginning to be contained from Q1 2020
    • APAC banks have a higher tendency to outsource the international debt collection activities
    • Increasing complexity of the regulatory environment across North America and Europe is acting as a threat to the growth of the debt collection industry

    Global Debt Collection Market Maturity

    • Outsourcing tendency of debt collection to third–party agencies is witnessed more in North America and APAC as compared to Europe
    • Improvement in recovery rates by 10–12 percent has been witnessed by outsourcing of debt collection
    • Cost and time for legal proceedings in Latin America is much higher than in other regions, thereby increasing the complexity of debt collection

    Debt Collection Industry Trends

    • Increase in the tendency to outsource in-house process of debt collection has been witnessed, especially among the North American companies
    • Higher adoption of the final demand letter, an additional service for the debt collection industry, has been seen mostly among mid-sized companies
    • Invoice or transaction verification, the process for checking the accuracy of the debts, is expected to be lower in North America, due to the higher internal efficiency of the creditors

    Debt Collection Drivers and Constraints

    Drivers

    Better recovery rate

    • Creditors, incurring huge losses due to increase in delinquent debts, have experienced an improved recovery rate of 15 –20 percent, by outsourcing debt collections

    Better utilization of time and resources

    • Debt collection is an extremely complex and slow process, especially for smaller banks
    • By outsourcing this process, banks have realized better cost savings, as well as resources which can be utilized for their core functions

    Technological advantage

    • Better offerings of technology by the Debt Collector Agencies (DCA) such as skip tracing, text messaging, analytics, etc., has helped creditors to communicate with the debtors, thereby improving the collection rate

    Constraints

    Increasing labor costs

    • Debt collection is a labor intensive process and salaries comprise 30 – 40 percent of the total costs. Thus, the increasing labor rates, especially in the developed countries, is expected to affect the profit margins

    Stringent regulations

    • Governments are expected to impose stricter regulations on the debt collection industry, especially in matured regions like North America and Europe, which are already bound by directives and acts like FDCPA, TCPA, CCD