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Credit Collections and ServicesPublished by: First Research, Inc. Published: Apr. 28, 2008 - 10 Pages Table of Contents
AbstractIn the US, about 1,600 credit reporting agencies and 5,000 credit collections agencies generate annual revenues of $14 billion. Large collection agencies include Outsourcing Solutions, Inc (OSI) and NCO Group; big reporting agencies include Dun & Bradstreet, TransUnion, Equifax, and Experian. The collections segment of the industry is fairly fragmented: the 50 largest companies hold less then 50 percent of the market. The credit reporting segment is highly concentrated: the 50 largest companies hold 90 percent of the market.COMPETITIVE LANDSCAPE Demand for credit reporting and for collections services are driven by the volume of financial transactions, and by the health of the economy. The profitability of individual companies depends largely on efficiency of operations. The profitability of collections companies that buy receivables portfolios depends on their ability to assess recovery potential. Large credit reporting companies have significant economies of scale in operations. Small companies can compete successfully in the collections segment because of the labor-intensive nature of the work. PRODUCTS, OPERATIONS & TECHNOLOGY Credit reporting agencies help businesses decide whether to extend credit to customers, while collections agencies help businesses recover funds that had been loaned. Credit reports are used by businesses to determine the creditworthiness of individuals and businesses that want to buy goods and services on credit, including credit cards, auto and bank loans, mortgages, and business accounts. Collections agencies attempt to recover loans from individuals and businesses that are delinquent in making payments. Some large companies like ... Get Full Details About This Report >> |
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