Executive Stakeholders in the Receivables Management Industry Collaborate to Unify Interests
In March 2018, key executives representing the larger trade associations in the receivables management industry gathered for the first time to address the string of challenges that regularly strains each organization and the overarching industry. With continual regulatory, legal, and economic changes within the accounts receivable management (ARM) industry, fusing common interests is essential for continued forward momentum in the current political and economic environment.
Executives from each organization assembled during ACA International’s Spring Forum and Expo in Las Vegas. Current key topics addressed included: legislative, regulatory, and judicial advocacy, public relations, consumer financial literacy, and industry professional enrichment offerings. Speaking with a united voice, the delegates within the receivables management industry represent the industry’s common interests with lawmakers, legislators, the judiciary, and the public moving forward. The passion of the experts represented within the alliance demonstrates each organization’s commitment to collaborate more effectively beyond the Spring Forum meeting.
“The alliance we launched is a powerful example of the partnerships that are crucial to sustaining the initiatives we have within our respective focuses of the receivable management industry,” says Marian Sangalang, Vice President of The Bureaus, Inc. and President-Elect of RMA. “Coming together to extend our interests and provide a unified voice is mutually beneficial for all parties. From large corporations to small companies, what we started at the Spring Forum will have lasting effects on how we are able to push our industry forward within the bounds of technology, compliance, and regulation. I am thankful for the participants from so many focuses of our industry who were willing to work together for a greater cause.”
Among the many participants at the roundtable were executives from Receivables Management Association International (RMA), National Creditors Bar Association (NCBA), The Association of Credit and Collections Professionals (ACA International), Federation of European National Collection Associations (FENCA), the International Association of Commercial Collectors (IACC), and the Institute for Collections Leadership (ICL). These organizations represent major facets of the ARM Industry: debt buyers, attorneys, and collectors. Working together to solidify influence, the ARM industry is well represented across all spokes of the revenue cycle.
About Receivables Management Association International
Receivables Management Association International (formerly DBA International) is a nonprofit trade organization founded in 1997 that represents member companies and supports the purchase, sale, and collection of receivables in the secondary market. RMA constantly works to provide members with networking, educational, and business development opportunities.
About National Creditors Bar Association
National Creditor’s Bar Association (NCBA) is a bar association founded in 1992. NCBA attorneys work with creditor clients, help consumers, and collaborate with judges, court representatives, and lawmakers. The association serves 536 law firms throughout the U.S., Canada, Puerto Rico, and the U.K.
About the Association of Credit and Collections Professionals
The Association of Credit and Collections Professionals (ACA International) was founded in 1939 and represents more than 230,000 receivables management professionals across the ARM industry. ACA establishes ethical standards, produces products, publications, and services, and actively advocates for members.
About the Federation of European National Collection Associations
Celebrating their 25th Anniversary, the Federation of European National Collection Associations (FENCA) is an association comprised of 75% of the credit management, debt collection, and debt purchase companies in Europe. FENCA represents member interests with EU institutions, the European financial services industry, consumer groups, and the EU public.
About the International Association of Commercial Collectors
The International Association of Commercial Collectors (IACC) delivers education and professional resources to collections professionals in a collaborative manner. The IACC also works to promote professional and ethical conduct, encourage mutual support among members, and increase the awareness of using an IACC member to collect commercial accounts.
About the Institute for Collections Leadership
The Institute for Collections Leadership (ICL) is a recent organization created to promote and advance the specific interests of its large-company members within the credit and collections industry. ICL works through advocacy, public relations initiatives, research, and data collection analysis to further member interests.