ORLANDO — Welcome to Orlando, home of Mickey Mouse, the Minions, and, for the next three days, hundreds of sun-kissed and glistening debt collectors attending ACA International’s annual Convention. Swapping the dry heat of Las Vegas for the humidity of Orlando, much has changed for the industry in the past 12 months, and those attending the event are looking forward to catching up with each other and catching up on how the industry has changed and continues to change.
It was during ACA’s Convention last year where the Consumer Financial Protection Bureau made the announcement that Regulation F would go into effect on November 30, 2021, so the industry has gone from having five months to prepare for the rule’s enactment to having seven months of collecting with the rule in effect. The industry also continues to evolve through a period of tremendous technological innovation, driven by new entrants into the market, new developments making collections more efficient and making collectors more productive, and driven by the realities of operating during a global pandemic that has changed how and where people work, possibly forever.
With so many areas of the industry undergoing some degree of change, opportunities like ACA’s Convention, which offers professionals the opportunity to acquire information, insights, and experiences from their peers and colleagues, could not come at a better time.
Having gone through getting ready for the enactment of Regulation F, companies in the accounts receivable management industry can now turn their eyes to other areas of their operations beyond complying the rule, which was a once-in-a-generation event.
For those who will be attending the event live or watching some of the sessions from the comfort of their homes and offices, take advantage of the opportunity to hear how the leaders of the industry are addressing inefficiencies and looking to capitalize on new opportunities. I can’t speak for everyone, but it like the industry is starting a new chapter. Maybe it’s fitting that it’s being written in the Happiest Place on Earth.
