Las Vegas — Summing up a day’s worth of interactions, conversations, and expert opinions into one word can often be an oversimplification or a marketing gimmick, but if it was a word that was probably one of the most common that was said, it may just also have the benefit of being true. That word for the first full day at RMAI’s Annual Conference is opportunity. Whether it’s the opportunities being presented to buyers and sellers who have more exchange than at any point in the past few years or the opportunities before companies in the industry to take advantage of technology to bring efficiencies and optimization, there are clearly opportunities for companies to be opportunistic.
In fact, there are so many opportunities for companies in this industry, one of the most important steps to be taken is to prioritize which opportunities present the potential for the largest impact and take advantage of those first. Pick one and run was a saying mentioned by several speakers during yesterday’s opening session. The following session took that idea and provided attendees with a framework for developing, testing, and implementing those ideas, to help them prioritize and put much-needed structure around the process.
One speaker offered a bold prediction that should serve as both an example of an opportunity waiting to be pounced on and a statement on where the industry is heading.
Bots backed by artificial intelligence will out-perform human collectors by the end of this year, said Josh Foreman, the CEO of InDebted. Foreman’s statement was intended to convey just how fast the technology in this area is evolving, but also to wake companies up to the opportunities that technology like artificial intelligence can bring to a company in the accounts receivable management industry.
