Research into the trace industry
RESEARCH INTO THE TRACE INDUSTRY
How Variable Is Your Debtor Trace Department?
Research conducted by Manchester Metropolitan University Business School in partnership with Focus Software Systems has revealed some interesting trends within the trace industry. The research highlights the three biggest current issues for the industry. They are, in order of significance, staying within compliance rules, having transparency and productivity levels.
Over the past decade the rules and regulations regarding compliance within trace have become ever more restricted and costly to stay within. “Mis-trace, re-checks, and how I handle complaints about mis-trace are probably my biggest worries” said a CSA trace manager.
“The fixed costs alone currently involved with trace are spiralling out of control” said a manager at a DBSG. While in the past decade, employment costs have continually risen the realistic price achievable for a successful trace has in real terms fallen.
“More and more cases aren’t being traced, as (Debt Collection) agencies can’t see value for money in performing searches” said a member of the DBSG.
The research highlights the pressure numerous trace departments are under, both to stay within the rules and to hit their targets. “Trace for us is totally target driven” said another trace manager, trace firms need to hit ever higher targets while having ever greater regulatory requirements.
Focus Software Systems have for a long time thought they have an unique trace software offering called tracehunter. The research agrees with this feeling, showing some current users of tracehunter having productivity rates 100% higher than non-users. tracehunter is a trace case management hub, offering complete trace audit trails, automated features, total trace agent transparency and workflow controls.
Contact: Tim Hayes
Telephone: 0161 713 2213
Mobile: 0780 620 6120
Read more at www.tracehunter.co.uk