Learn about actual and potential costs
How much should I pay for Debt Collection Services?
What is the average price of Debt Collection Services?
This procurement report includes pricing information to help you purchase Debt Collection Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Debt Collection Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Debt Collection Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Debt Collection Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Debt Collection Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
Among the estimated 8,000 debt collection agencies in the United States, the top four operators account for less than 30.0% of total market revenue, signaling a low level of concentration. In spite of bonding and licensing requirements, prospective collection agencies benefit from low capital intensity in this market, whereby little... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
On average, what amount of debt do you typically collect?
For which industries do you excel at debt collecting?
How would your past experience working with clients in my industry benefit debt collection for my accounts?
What is the size of your typical client?
How do you hire and retain qualified staff?
How do you compensate for the high level of employee turnover in the debt collection market?
How do you anticipate your staff turnover will affect your ability to service my accounts?
How long has each member of this project's team been working with you?
If a senior staff member on this project leaves, will an equally qualified person replace them?
How many collectors are employed at your agency? How many would be assigned to my accounts?
In response to the COVID-19 pandemic, have you had to layoff or furlough employees? If so, how has this impacted the quality of your services?
Which of your services are outsourced to other companies?
How do you keep the cost of outsourcing low?
How do you select your third-party suppliers and ensure their reliability and compliance to laws and regulations?
How long have you been working with your current third-party suppliers?
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Key elements for every RFP
What should my RFP include?
Buyers should disclose their annual budget for services, if relevant.
Buyers should state their ideal pricing model and terms of payment.
Buyers should evaluate vendors' ability to meet their service needs.
Buyers should evaluate vendors' experience in the marketplace and relevant experience collecting comparable accounts.
Buyers should evaluate vendors based on their proposed fees.
For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should include the date when proposals are due and any other relevant dates (e.g. interviews) prior to the contract award.
Buyers should include the date when services will begin.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain for debt collection services exhibits a low level of risk. Buyer power benefits from a low degree of supply chain risk because it reduces the likelihood of a supply shock, which could otherwise prompt a spike in service prices. Therefore, a low level of supply chain risk... Subscribe to learn more.