Omni channel debt collection methods have become increasingly popular in recent years as they offer an integrated approach to debt recovery. This approach combines different channels such as email, text messages, voice calls, and social media platforms to create a seamless and personalized communication experience for debtors. By utilizing multiple channels, debt collection agencies can improve their reach and enhance their chances of recovering debt.

Artificial Intelligence (AI) is revolutionizing the way debt collection agencies operate. With AI-powered debt collection methods, agencies can now leverage data and automation to streamline their operations, increase efficiency, and improve the overall effectiveness of their debt collection efforts.

It’s a challenging time for small businesses. More than £75 billion has been borrowed by businesses through Covid loan schemes, and many are now standing on a cliff-edge as the governmental COVID-19 support winds down. Managing the impact of late payments and corresponding debt collection efforts is now a way of life for the thousands of UK small business and local councils, so here are the top five ways to improve collections efforts and boost your credit control.

You’ve probably heard of open banking, but understanding it in precise detail can be challenging. Open banking provides banks and lenders with access to consumers’ data, as long as they consent. Regulated by the Financial Conduct Authority (FCA), the aims of open banking are to give consumers increased power over their investments and it also empowers lenders to provide for specific services, tailored to their needs. As a relatively new financial service, open banking has huge implications for debt recovery and debt collection processes.

If you’re looking for a fresh perspective on your collections strategy, check out Lateral Technology’s latest top trends in debt recovery.

If you’ve ever been involved in accounting practices, you may have heard of the terms accounts receivable and accounts payable. But many people make the mistake of confusing the two terms. Here we will explain them both, and also elucidate their important differences.

Economic, social and environmental sustainability is a prime focus of today's business environment. In fact environmental sustainability is inextricably linked with business success. So how can cloud computing reap positive environmental benefits for businesses, local councils and law firms? Let’s get to the bottom of this important question.

Late payments are an increasing problem for UK businesses, local councils and government authorities. But with the advent of digital technology, debt collections can now be modernised via a multitude of methods. Here we outline 5 top ways to modernise collections process and improve your overall credit control.

CRM stands for Customer Relationship Management. It’s a form of technology which empowers its users to manage interactions with their customers and potential customers. The CRM system serves to increase profitability and improve customer service through streamlining operations. It’s a powerful tool that helps businesses build stronger relationships. But what are the top 5 essential elements of a thriving CRM system?