Most CRMs are out of date
Every year, 60M people change their addresses, 45M change their phone numbers, and 2.1M legally change their name. On average, 5%-15% of typical CRM records go out-of-date in a single month. This impacts all phases of collections: when accounts go delinquent, the duration of delinquency, and in the days prior to delinquency. At each phase, the collector with the most current consumer information has the best chance of reaching the consumer and collecting.