Regulation F has had a massive impact on accounts receivable management. Companies in the ARM space have to deal with even more onerous restrictions on how, when and how often they can communicate with consumers. These new rules, layered on top of previous rules and rulings, continue to chip away at the traditional mainstay of collections: phone calls.
Federal governments, state governments, and court rulings continue to add new calling restrictions for third-party debt collectors, including number, timing, location and frequency of phone calls, the content of conversations, and the use of auto-dialers. Some carriers have even moved to block so-called robocalls.
As it becomes harder and harder to rely on calling as a key communication channel, collectors are turning to print and digital communications - specifically, letters, SMS, and email - to engage consumers and collect outstanding debt.
In this new whitepaper from Nordis Technologies, find out why your Regulation F plans should include a reevaluation of your omnichannel communications strategy, and a shift to written communications. You'll find out how cloud-based, omnichannel tools can help you: