A foreign BPO and debt collection company was interested in understanding the U.S. market

Debt collection company operating in Latin America was interested in entering the US market.  To do so they needed business intelligence to define the market, players, products and services available, customer needs and opportunities.

Extensive secondary research on industry, competitors, federal and state laws.  This secondary research became the framework for 35 telephone in-depth interviews (IDIs) complimented with 155 quantitative online surveys with creditors and agencies.

Client was provided a descriptive report with graphs and analytic.  Enclosed in the report was an overview of the US debt collection market, identifying the US regulatory landscape (federal and state), market segments, barriers to entry, collection rates.  A full customer perspective portrayed the largest users of debt collection services (by industry and type of customer), key needs, decision drivers and supplier assessment (identification, relationship, satisfaction).  A SWOT analysis of competitive landscape identified the key players, product/service offerings, tactics & strategies and merger & acquisition activity.

Findings revealed that there is no alternative to complying with federal and state requirements, that there is not much appetite for offshore collection services and that the cost of entry is high.  However, client was qualified to the enter the US market due to unexploited opportunities, market size, world class management system and track record with US companies.  Recommendations were made to create awareness by joining accredited international organizations and obtain certifications respected by buyers; focus on hiring the best talent; create strong marketing campaigns; lead attention away from offshore sites; and be prepared to be competitive.