Certification Underscores Firstsource’s Best practices in Debt Recovery & Receivables Management
Firstsource Solutions, a global provider of business process outsourcing (BPO) services, today announced that its debt recovery services division, Firstsource Advantage LLC, has received the Professional Practices Management System (PPMS) certification. The PPMS certification acknowledges that Firstsource’s accounts receivable operations are in accordance with industry best practices and policies. The certification process is accredited by the Association of Credit and Collection Professionals (ACA International), the credit and collection industry’s leading trade association that is responsible for establishing ethical standards and serves as a conduit for the credit and collection industry with businesses, policymakers and consumers.
Certification to PPMS standards requires submission of a rigorous audit and review of procedures and practices by independent third-party accounting and audit organizations hired by ACA International. Companies are evaluated on the quality of operations relating to client interaction and communication, error identification and corrective action, and oversight of internal procedures for documentation, data storage, results reporting and employee training, among others.
In addition to earning the PPMS certification, Firstsource was recently certified by Payment Card Industry Data Security Standards (PCI DSS) and Statement on Auditing Standard (SAS) 70 Type II, which demonstrates Firstsource’s long history of achieving certification to the Customer Operations Performance Center Inc. (COPC) standard.
Firstsource’s debt recovery services include back-office operations such as collections management (both early- and late-stage), credit risk evaluation and application processing. Firstsource works with six of the largest credit card companies in the United States.
About ACA International
ACA International, the Association of Credit and Collection Professionals, is the comprehensive, knowledge–based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,500 members worldwide, including third–party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. The association establishes ethical standards, produces a wide variety of products, services and publications, and articulates the value of the credit and collection industry to businesses, policymakers and consumers.
About Firstsource
Firstsource (NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL@IN) is a leading global BPO (business process outsourcing) service provider headquartered in India. Firstsource provides customized business process management to global leaders in the Banking & Financial Services, Telecom & Media and Healthcare sectors. Its clients include Fortune 500 and FTSE 100 companies. Firstsource has a global delivery model with operations in India, U.S., UK, Argentina and Philippines. (www.firstsource.com).
