When collection software runs, debtors can't hide; as consumers owe more and more, collections agencies turn to high-tech tools to find their 'customers.'(includes related article on credit Infoglide software for tracing persons using different or multiple names)(Technology Information)
Article Abstract:
The Federal Reserve reports that the US has $1.3 trillion in installment debt outstanding, a 7% rise from 1998. In 1997, collection agencies acquired $247.4 bil, of which they recovered $32.2 bil. Collection agencies are using database software to focus on the most collectable accounts. Companies such as Rothenberg Systems International, Narex, and Fair, Isaac Co. have developed software to analyze credit information. Predictive phone dialing software keeps calling a number until a person answers, at which point a collection agent comes on the line to negotiate payment. Offices using dialing systems have increased person-to-person phone time from 15 min to 45 min per hour. Average turnover for agents runs 40 to 80 percent. Credit scoring systems have refined the screening process for companies issuing debt, so debt may be easier to collect.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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Technology puts the recording studio on a hard drive
Article Abstract:
Home recording studios are now within reach of home computer owners, thanks to lower prices and improvements in quality of home recording software. For $300 to $800, enthusiasts can find a program that allows them to record, mix, and add effects to their own music. One could even then distribute music over the Web, using the popular MP3 format. A 200MHz Macintosh, with a 3 GB hard drive and 32 MB RAM will allow recording16 or 24 tracks for a song.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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Comment about this article or add new information about this topic:
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