A case of buyers’ remorse
Gordon has a long history with TransUnion. “When I started at my first organization more than 20 years ago, we used TransUnion to pull old-school credit reports on paper, trying to do skip tracing,” he says. “We decided to keep doing business because TransUnion cared, out of all the credit bureaus, the most about the collection process.” Despite the strong relationship, Gordon’s previous agency let its contract with TransUnion expire in 2014 — and it didn’t take long for the regret to set in.
“It took just one month without TransUnion to realize that they have the best product in the business. That’s why when I started Valor and could choose the partners I wanted, I chose TransUnion, which is the only provider from my previous organization that is with Valor today.”
It took just one month without TransUnion to realize that they have the best product in the business.
Moving ahead: A focus on culture and tech
So, what are Gordon’s big goals for Valor? It turns out, it’s not all about numbers.
“I want to create an environment that employees love. When people are happy, I know they’re going to treat consumers with respect, be helpful and recover money for our clients. The right atmosphere and culture can lead to top rankings,” he says.
TransUnion will play a critical role
TransUnion aligns with Gordon’s beliefs about serving people. “TransUnion made us feel like family. TransUnion always led us down the right path and put the relationship before the almighty dollar.”
Gordon says the integrity of TransUnion data and its scoring capabilities are essential to the success of Valor.
“TransUnion provides us with solid, relevant data. It’s not the old garbage we often see from other providers. But where TransUnion really separates from the competition is scoring,” he says. “On average, I can identify 80% of my dollars on day one. And ironically enough, they generally come from 20% of the accounts. I’d have no way to know that without TransUnion’s Recovery Scores.”
Final thoughts on the industry
Gordon has high hopes for the collections industry, despite a prolonged rough patch. He says, “What we’ve been through the last 15 years has calloused our business, but those businesses that survived are in a position to thrive. We’re flexible, nimble and tough. We’re jaded, but we’re better for what we’ve been through. I believe this is the era of prosperity for collections.”
However, he believes the key to success is finding that balance between serving clients and consumers. “We do good for our society and economy. We collect for our clients, but we’re also in a position to help people who are having a hard time. We save them money. We keep issues off their credit, and we give them the time they need to pay,” he says.
TransUnion made us feel like family. They always led us down the right path and put the relationship before the almighty dollar.
With TransUnion, Gordon and Valor have the data and analytic capabilities they need to collect more for their clients — and to help consumers get on the path to financial recovery.