During the Executive Exchange session on Collections, Lynnett Harman noted that using the web and various social media platforms has proven very helpful not just in brand building, but with collections of information.

However, when using any of these, credit professionals have to be careful to ensure content is fresh, because they won’t come back if information is out of date, she contended.

Additionally, being careful about who is “friended” on places like LinkedIn, Twitter and Facebook is key because so much information tends to get out there into public consumption, including those who are competitors or potential fraudsters.    Source:  NACM

BIIA editorial comment:  In a recent BIIA survey of credit insurance underwriters the need for ‘cross checking’ was specifically highlighted, due to the fact that there is just as much obfuscation on the Internet as there is useful data.