The Keys to Your Strategy in the Face of Covid, a New CFPB, and Advancing Technology

“Tactics is knowing what to do when there is something to do; strategy is knowing what to do when there is nothing to do.” Savielly Tartakower.

Savielly Tartakower is considered to be one of the most notable personalities ever to play the game of chess. He was among the first to be awarded the title of International Grandmaster back in 1950. Among his most well-known sayings was the one above that has excellent application to success in today’s modern business world.

Many of those in the accounts receivable management industry today find themselves looking to deploy the right tactics to respond to several seismic shifts that have occurred in recent months: the deployment of remote workforces in response to the COVID-19 pandemic, responding to the Consumer Financial Protection Bureau’s debt collection rule and whether new leadership atop the Bureau will alter what has already been released, and rapid advancements in technology that are revamping how collection agencies operate. Each of these situations requires companies to make substantial, business-critical decisions that will likely affect their future. 

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