Collection agencies collect debt on behalf of creditors for a fee or percentage of the total amount owed. Debt collection services is an essential part of businesses that lend money to their customers. The credit collection and collection agency industry is growing significantly across the globe due to the growth in retail debt and delinquency rates. Also, a lenient approach toward lending adopted by financial institutions and banks has increased the number of debts, higher credit card balances, and low savings rates. This market will witness an accelerating spend momentum owing to the increasing offering of business credit and the extension of business credit in terms of both volume and tenure among the end-user industries.
Covered in this report
The report provides actionable insights to improve source-to-contract cycle performance in the Global Credit Collection and Collection Agency Services Market. It helps sourcing professionals formulate better category strategies, enhance savings, understand supplier and market challenges, and implement sourcing best practices.
The report, Global Credit Collection and Collection Agency Services Market, provides up-to-date information about market shifts and potential risks, as well as in-depth knowledge of products and services, which can help in planning and in executing category management activities. It focuses on the cost-saving aspects of procurement and on providing insights that can lead to optimization of category spend.
Category driver
Category management strategy
Procurement best practices
Key questions answered in this report
You can request one free hour of our analyst’s time when you purchase this market report.
Covered in this report
The report provides actionable insights to improve source-to-contract cycle performance in the Global Credit Collection and Collection Agency Services Market. It helps sourcing professionals formulate better category strategies, enhance savings, understand supplier and market challenges, and implement sourcing best practices.
The report, Global Credit Collection and Collection Agency Services Market, provides up-to-date information about market shifts and potential risks, as well as in-depth knowledge of products and services, which can help in planning and in executing category management activities. It focuses on the cost-saving aspects of procurement and on providing insights that can lead to optimization of category spend.
Category driver
- The rising pressure on the BSFI sector for reducing their NPA
Category management strategy
- The use of technological innovations such as data analytics
Procurement best practices
- Evaluate and benchmark credit collection process and qualification of suppliers' staff
Key questions answered in this report
- What are the market dynamics?
- What are the key market trends?
- What are the category growth drivers?
- What are the constraints on category growth?
- Who are the suppliers in this market?
- What are the demand-supply shifts?
- What are the major category requirements?
- What are the procurement best practices in this market?
You can request one free hour of our analyst’s time when you purchase this market report.
Table of Contents
PART 01: Executive Summary
PART 02: Market Insights
PART 03: Category Pricing Insights
PART 04: Cost-Saving Opportunities
PART 05: Best Practices
PART 06: Category Ecosystem
PART 07: Category Management Strategy
PART 08: Category Management Enablers
PART 09: Suppliers Selection
PART 10: Suppliers Under Coverage
PART 11: US Market Insights
PART 12: Category Definition
PART 13: Appendix
List of Exhibits:
Executive Summary
The following companies are recognised as the key suppliers in the Global Credit collection and collection agency services Category - Procurement Market Intelligence Report: Teleperformance, Convergys, Alorica, Atento, Arvato, Experian Information Solutions.Commenting on the report, an analyst from the research team said: “One of the procurement best practices for buyers is to evaluate the IT security and compliance management process of suppliers.”
According to the report, one of the key growth contributors for the global credit collection and collection agency services market is the rising pressure on the BSFI sector for reducing their NPA.
Further, the report states that one of the key category management strategies for the buyers in the global credit collection and collection agency services market is to engage with suppliers that have a consistent track record in adhering to relevant regulations.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains actionable insights to improve source-to-contract cycle performance in addition to a PESTLE analysis.
Companies Mentioned
- Teleperformance
- Convergys
- Alorica
- Atento
- Arvato
- Experian Information Solutions.
Methodology
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