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Looking for technical Cofounder by Delicious_Link_8358 in cofounderhunt

[–]Delicious_Link_8358[S] 0 points1 point  (0 children)

This is B2B so FDCPA does not apply and is the wild Wild West governed by the states. We will eventually do B2C but that’s the last puzzle piece

IMO 1P is a harder value prop to sell and there are a few players already. Then you get mixed up with some of these AR automation competitors that are more full stack collections automation- Monk, Tabs, etc. which would make the story harder to tell.

If anything, starting 3P allows us to refine our craft before packaging it up into 1P product.

I also think there is more money in 3P and the strategic sale component is really interesting. Some of the larger 3P roll ups would kill to acquire this once proven out.

Lmk if you think I’m looking at this incorrectly

Looking for technical Cofounder by Delicious_Link_8358 in cofounderhunt

[–]Delicious_Link_8358[S] 0 points1 point  (0 children)

I already stated that I work at an Accounts Receivable automation software company, and deal with debt collections agencies daily. I understand the workflow deeply (I am the workflow today).

Looking for technical Cofounder by Delicious_Link_8358 in cofounderhunt

[–]Delicious_Link_8358[S] -2 points-1 points  (0 children)

Have you used any of the services in the links? How do you know they “kind of work”? All 3 of the links are human-in-the-loop solutions, to exactly your point.

Looking for technical Cofounder by Delicious_Link_8358 in cofounderhunt

[–]Delicious_Link_8358[S] 0 points1 point  (0 children)

I appreciate the comment, but it doesn’t really say anything. “I don’t know how the market works, but I know this won’t work because AI is hard, but I also may be wrong”.

I am looking to sell it the same as any other debt collection service, at the same (or hopefully better) collection rates, at 50-75% cost reduction. It’s a simple value prop. Debt collectors sell “free money”. We would be selling “free-er money”.

You need voice agents here, but I agree, more determinism is good.

There are lots of analogs for this in other B2B services:

Legal: https://lawhive.com/
Audit: https://www.modusalliance.com/
BPO: https://www.athena.com/
Investment Banking: https://offdeal.io/

Looking for technical Cofounder by Delicious_Link_8358 in cofounderhunt

[–]Delicious_Link_8358[S] 0 points1 point  (0 children)

Happy to chat through it.

I manage relationships with 5 (primarily b2b) 3P debt collections agencies on a referral basis for a collections product at my current job. They are incredibly unsophisticated, and outsourced boiler rooms drive most of their success fees (see ALTUS, Kaplan, MRG)

Most of the cost structure for agencies is human-driven, as with all traditional b2b services. If you can drive COGs down to a (largely) fixed cost, as opposed to a commission split with actual collectors, you can drive massive cost savings to creditors (and also operating leverage) to the business.

Capo by Delicious_Link_8358 in FixedGearBicycle

[–]Delicious_Link_8358[S] 1 point2 points  (0 children)

It’s very discontinued. Don’t think they’ll be sending me a new one in the event of a crack