Maybe you’ve engaged with a new OCA or vendor that boasts a strong digital presence. You’ve seen their sales pitch and demos, and you think they might be a good fit. Now, you need to know if their digital strategy actually gets the job done. What are the high level, but maybe not obvious, questions you need to ask before you determine if the relationship will be a good fit? Here are the first three questions you should ask:

1. Do you have the data and the infrastructure to get it done?

Don't overlook the importance of data science. Both you AND your potential partner need to have the data and infrastructure in place to make this arrangement work. As Mike Cassidy, Partner with M&G Solutions, notes: “everything really starts and ends with data.” Creditors should consider if they can provide enough data to their digital partners so they can optimize their strategy, he adds. Digital strategies are built on data. Can you send to your agency more than just the typical demographic information? Are you passing consent, preference, balance breakdowns, and dates of service? All of these data points, and more, will be key to your partner building a successful digital strategy.

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