Millennials are becoming a key segment of vacation owners, both as first-time buyers and as second-generation owners through inheritance. This up-and-coming group of customers has its own preferences, expectations and needs, according to just-released industry research conducted by Leger for the ARDA International Foundation. This demographic is likely to spur new ways of doing business in vacation ownership, just as millennials have been recasting other industries.
Happy Holidays! 2018 has flown by, filled with many milestones, transitions and transformations.
I’m delighted to report that our business is enjoying strong double-digit revenue growth, with gains in all of our industry verticals including healthcare, hospitality, financial services and collections. We signed some great new clients including community manager AAM and financial services giant PennyMac. We also have been expanding our relationships with many of our valued existing clients, most notably Western Union/Speedpay, Sutherland Healthcare Solutions and our ExpressoPay partner, Transactis.
We all know that buyers across industries are skewing younger, and those changing demographics impact how you sell, finance and communicate. Helping companies manage critical communications is my business, and it doesn’t get much more critical than financing a big-ticket item like an auto, truck or SUV.
Auto lending is a booming business, with about 85% of new cars and 50% of used cars purchased with financing, according to Debt.org. You can see how this type of lending has grown over time. About 43% of adult Americans, or 107 million people, had auto loan debt in 2017, according the Federal Reserve Bank of New York, up from 80 million people in 2012.
Our first time exhibiting at the ACA International 2018 Convention & Expo, held in Nashville, was a big success. We met with clients, greeted prospective new customers, showcased our cloud-based applications for customer communications management and payments technology, and heard some thought-provoking speakers. The convention, packed with more than 1,000 attendees, was humming.
We’ve all been a patient at some point in our lives, and illness aside, the experience is rarely pleasant. Many shortcomings exist in the myriad revenue cycle operations before, during and after treatment. Remember scrambling to find a local doctor who accepted your health insurance, was accepting new patients, was highly rated by his or her patients, and could see you quickly? Recall the stress of needing treatment but not knowing what your out-of-pocket costs would be? Or imagine the strain of trying to figure out how to pay an unexpected medical bill.