Many agencies assume that client-provided data is sufficient, but the reality is that, on average, only about 50% of client data is effective—especially in portfolios from industries like healthcare and government. That means half of the contact information available is either incorrect, outdated, or simply does not lead to a successful connection with the consumer. Businesses relying solely on this incomplete data limit their ability to engage with consumers and recover outstanding accounts.
A common misconception is that if initial client data doesn’t lead to contact, the best approach is to either skip or append that data with a single vendor. However, a prescriptive data purchase strategy leverages a multi-vendor approach, ensuring a broader and more accurate reach. Verifying client data through multiple sources, rather than a single vendor, allows businesses to confidently determine which contact points are most reliable before deploying outreach campaigns.
The Role of a Multi-Vendor Strategy in Data Success
A successful prescriptive data purchase approach is built on a carefully designed multi-vendor waterfall strategy. Instead of relying on one data vendor, high-performing agencies implement a structured approach that pulls data from multiple sources. TEC’s Data Managed Services (DMS) platform, for example, processes over 100 million searches annually, providing a seamless way to verify and enhance data across multiple search types, including phones, addresses, emails, bankruptcies, and more.
By leveraging multiple vendors, agencies significantly increase their chances of finding accurate, high-confidence data points. This also prevents overreliance on a single provider, reducing risk while improving data coverage. More importantly, a multi-vendor strategy allows agencies to control costs effectively by comparing vendor performance and avoiding restrictive volume commitments or minimum purchase agreements.
Your Technology is Only as Good as Your Data
Many organizations are investing in advanced CRMs, omnichannel platforms, and payment automation systems to improve consumer interactions. However, without a strong prescriptive data purchase strategy, these tools will only be as effective as the data they receive. Poor-quality data leads to poor performance, resulting in missed opportunities and wasted resources.
To stay competitive, agencies must proactively manage their data quality. CRM data quickly becomes outdated, posing a significant challenge for businesses that do not have a structured approach to data enrichment. Even the most advanced contact strategies will fail to deliver results without regular updates and verification.
Optimizing Performance Through Smarter Data Decisions
With more companies bidding for the same inventory, a strong data strategy can provide a significant competitive advantage. The agencies that consistently outperform others are the ones that prioritize data quality over convenience. They recognize that data is not just an operational necessity—it’s a strategic asset that directly impacts revenue and efficiency.
TEC has worked with industry leaders across collection agencies, debt buyers, servicers, healthcare organizations, and law firms, and one thing remains constant: those that invest in prescriptive data purchase consistently achieve better results. Whether through verification services, data appends, or supplemental scrubs like SSN and DOB verification, the key to success is in refining data strategies to maximize consumer contact.
A Smarter Path Forward
The days of relying exclusively on client-provided data are over. Agencies that want to maximize their performance must embrace prescriptive data purchase as an essential strategy. A multi-vendor approach expands data coverage, reduces reliance on a single provider, and improves both reach and revenue. In a market where technology is evolving rapidly, ensuring that your data is accurate and actionable will determine how well you compete.
At TEC, we recognize the importance of data-driven decision-making and have spent over a decade helping organizations refine their contact strategies. With millions of transactions processed, we have seen firsthand that the agencies that prioritize high-quality data consistently achieve stronger performance. The future of successful consumer contact lies in prescriptive data purchase, and those who invest in it today will lead the industry tomorrow.
