No matter how well you have set up your collections business, sooner or later, inefficiencies can creep in causing incremental operating cost increases. Many times it is caused by departmental quarterly focus; intentional or not, the various departments within your organization can fall back on operating within functional silos. When that happens, operational redundancies occur. Instead of acting independently, the departments must act in an integrated company-wide manner because such redundancies can lead...

The collapse of the Silicon Valley Bank (SVB) in March 2023 signaled an uncertain outlook for the U.S. economy and emphasized the need for businesses to consider several aspects of their payment processing approach while taking into account an ever-changing regulatory environment.

From collection law firms to debt buyers to healthcare collection companies, collections agencies are always busy serving customers, inputting customer data, setting up payment plans and retrieving payments. Manually managing these processes is time-consuming and costs your agency more than just money. In today's digital age, integrated payments are a game-changer and crucial for the everyday functions of the collections industry. 

In the hospitality industry, managing finances is an essential task that can significantly impact the success of a business. Key aspects of financial management include accounts receivable (AR) and accounts payable (AP). This blog will discuss AR and AP, why they are essential, and how you can effectively manage them for the hospitality industry.

Optimize your ARM business with the right payment processor!

Every industry is seeing drastic changes in how they operate their business; ARM is no exception. Depending on your industry, things can fluctuate quickly or stay at the same pace for years. However, in the wake of the pandemic, we have noticed a few significant trends in the ARM industry that collection agencies have seen in 2020 that are likely to continue in the future.

Improve Your Collections Process Through Payments!

Many small to mid-sized businesses find payments to be their most significant challenge. Odd, we know, but all too common. You’d think companies would want to develop the simplest way to accept and receive money. This is especially true of the ARM/collections industry.

REPAY is excited to announce a partnership with Lockstep Collect, an industry leader in AR automation for organizations big and small. REPAY and Lockstep Collect have a shared mission of increasing efficiency through automation, seamless integrations, and end-to-end solutions for invoicing and payments.