“Without change there is no innovation, creativity, or incentive for improvement. Those who initiate change will have a better opportunity to manage change that is inevitable” -- William Pollard.
1993 witnessed a significant step forward for the World Wide Web in “CERN putting the web in the public domain... perhaps being the most important web anniversary” (Dr James Gillies: The WWW turns 15 (again), 2008).
The ever-developing web continues to facilitate the improvement of communication.
Considering how connected the web allows us to be with the world by allowing the “global” to almost seem “local” to us, it is worth noting that “well into the 1990s, internet access was the reserve of a privileged few, mainly academics” (Dr James Gillies: The WWW turns 15 (again) 2008).
Going from a time where your (sluggish) browse online would come to an abrupt halt by the cable being unplugged in order for a phone call to be made, to today where approximately 30 million people in the UK own a smartphone - a handheld gateway to the web - the need to keep up with ever-advancing technological developments is key, especially in the workplace.
A desire to continually enhance efficiency and maximise productivity in the collection of arrears has led many firms to adapt the way they work into the “paperless office”.
A recent survey by YouGov stated that small and medium-sized enterprises in the UK can waste more than £42.2 million per day in revenues by looking for documents.
The shift into a paperless system sees a plethora of benefits for both staff and clients.
A user-friendly environment is borne out of the simplicity of the digital document management system; it allows organised information to be readily available and easily accessible at the touch of a button.
Operating on a paperless level and investing heavily in further technologies can improve the services a debt collection company provides.
Developing a bespoke system can allow a firm to capture and provide the most relevant information specific to each individual client, chart the progress of each case and even forecast the date that payment is expected to be received.
These adjustments can result in considerable time savings; which is key in recovering money that is owed. This also results in a greater percentage of cases being paid without the need for legal action.
The utilisation of the constantly improving technological capabilities available makes this an exciting time.
Louisa Benbow is Team Leader at Property Debt Collection
