Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Credit Collection and Collection Agency Services Procurement Market Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix of the financial services industry. This report breaks down the data and analysis behind the procurement of credit collection and collection agency services and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Credit Collection and Collection Agency Services Procurement Market Intelligence Report (Graphic: Business Wire)
"Buyers of debt collection services prefer to engage with service providers that can maximize debt recovery at competitive rates," says lead SpendEdge procurement analyst Angad Singh. "Service providers are gradually adopting an analytical approach to build a large debtor database to facilitate faster recovery," added Angad.
Key Report Features
Supply Market Insights | Negotiation Strategies | |
Procurement Best Practices | Category Risk Analysis | |
Cost Saving Opportunities | Key Supplier Analysis | |
Pricing Models | Supplier Capability Matrix | |
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Report Highlights
- Due to a growth of debt purchasers such as Apollo, Arrow, and Lowell, and market consolidation of players in the UK with those in Europe, the market share of EMEA is expected to increase over the coming years.
- Buyers need to engage with suppliers who offer skip tracing to aid in extensive research and find debtors who are no longer in operation.
- Buyers should also procure adequate details on software systems and technologies used by suppliers to ensure that their requirements can be met.
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Credit Collection and Collection Agency Services Pricing Trends
Suppliers of the market provide the buyers the option of choosing either the flat pricing model or the contingency pricing model. Contingency pricing is the most adopted among debt collectors as there is a No Collection and No Fee policy in addition to charging between 25% and 40% of the outstanding amount post collection of the entire amount. The pricing is based on particulars such as the size of the outstanding debt, the age of claim, and type of debt.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
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