A digital collections strategy is table stakes at this point. How can creditors ensure their digital partner has the strategy & technology they need for successful digital collections? Here are five lessons for creditors interested in avoiding common RFP mistakes and implementing a true digital collections system. Strategy and vendor management executives at creditor firms, take note.

1. Understanding omnichannel

When approaching an RFP, it’s important to understand what an omnichannel strategy really is and how it differs from, for example, a multi-channel strategy. A really important concept here is seamlessness, says Michael Orefice, Business & IT Practice Leader at Bridgeforce.

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