The Provana Blog

Tips To Improve Processes, Performance and Profitability

The Provana Blog

Key Takeaways from the NCBA Compliance Certification Course

| Author Provana, tagged in compliance, compliance management system, saas, audit, performance analytics, compliance management software, client requirements

 Did your firm get a chance to attend the National Creditors Bar Association’s (NCBA)  Compliance Certificate Course on March 29, 2019 in Philadelphia? Provana was a proud sponsor of this event which aimed to:

  • Enhance your understanding of the compliance processes in a creditors’ rights law firm
  • Detail the respective responsibilities of the staff and management in compliance and oversight
  • Demonstrate your commitment to advanced creditors rights law firm compliance and oversight
Read more    »

Is Your Compliance System Up To Date?

| Author Provana, tagged in compliance, compliance management system, saas, audit, performance analytics, compliance management software, client requirements

Compliance is a “moving target” that keeps shifting depending on activities in the industry and new enforcement priorities. For instance, the CFPB has announced potential plans to issue a proposal in 2019 to write an implementing regulation for the Fair Debt Collection Practices Act.

Read more    »

Compliance Aspects You Cannot Afford to Ignore

| Author Provana, tagged in compliance, compliance management system, audit, collection agency, dividends, complaint, employee traning

Compliance is a critical part of any collection agency’s business, but it is divided into a host of diverse issues that require very different approaches with different information needs. From audits to complaint resolution to training and procedures, each area of compliance has certain unique challenges that can easily be overlooked when performance metrics are aggregated across divisions or departments. These hidden issues can cause problems that are hard to pinpoint without a comprehensive system that has the ability to massage data by individual account, type, or audit and create new ways of isolating problem areas.

Read more    »

Will YOUR business survive the next natural disaster?

| Author Provana, tagged in compliance, business continuity management, disaster recovery plan, BPM, performance, crisis

As 2019 gets under way, we are still limping back from the effects of major disasters across the country – Hurricane Michael affected over 1.3 million homes and businesses in the southern states while the California wildfires caused economic damages to the tune of billions of dollars.

Read more    »

7 features of IPACS® you probably didn’t know about

| Author Provana, tagged in compliance, compliance management system, saas, audit, performance analytics, compliance management software, client requirements

Provana’s IPACS® (Integrated Performance Audit and Compliance Software) is a powerful SaaS compliance management system that automates and centralizes compliance tasks to help ensure your business adheres to industry regulations and state and client requirements.

Read more    »

provana-get-prepared-for-tax-season

5 Major Costs of Compliance

| Author Provana, tagged in compliance, IPACS, vendor oversight, compliance risk, agent training, regulatory risk, legal, training, compliance management software

Since the advent of the Consumer Finance Protection Bureau (CFPB) and its requirement for all collection agencies to have a compliance management system, compliance has become a line item in every company’s budget. But the additional cost burden has significant rewards – companies that make meaningful investments in compliance get ahead of the pack by winning more RFPs than their competitors.

Read more    »

provana-get-prepared-for-tax-season

Are You Ready for The Tax Season Storm?

| Author Provana, tagged in increase collections, customer service, competitive advantage, collector effectiveness, regulatory risk, ROI, call analytics, collection strategy

A large storm is almost upon us but it is not the typical storm we see in the sky. This storm happens every year, will generate a flood of collections and can uncover a multitude of opportunities that can define a debt collector’s performance for the rest of the year. What is this impending storm referred to as?—Tax season.

Read more    »

provana-tax-season-collections-strategy.jpeg

Get A Head Start on Your Tax Season Collection Strategy

| Author Provana, tagged in business automation, data analytics, IDAP, debt collection solutions, increase collections, competitive advantage, ROI, strategy, collection law firm, contact center, recovery, collection strategy

The new year is quickly approaching and with that comes the highly anticipated tax season. This part of the year is said to be the most profitable series of months for debt collectors than any other. Consumers are more likely to settle prior debts after receiving a refund, driving an increase in overall collection rates.

Read more    »