Major Group SIC 7322 - Adjustment And Collection Services

SIC 7322 - Adjustment And Collection Services

SIC 73 - Business Services
SIC 01 - Agricultural Production Crops SIC 02 - Agricultural Production Livestock And Animal Specialties SIC 07 - Agricultural Services SIC 08 - Forestry SIC 09 - Fishing, Hunting, And Trapping SIC 10 - Metal Mining SIC 12 - Coal Mining SIC 13 - Oil And Gas Extraction SIC 14 - Mining And Quarrying Of Nonmetallic Minerals, Except Fuels SIC 15 - Building Construction General Contractors And Operative Builders SIC 16 - Heavy Construction Other Than Building Construction Contractors SIC 17 - Construction Special Trade Contractors SIC 20 - Food And Kindred Products SIC 21 - Tobacco Products SIC 22 - Textile Mill Products SIC 23 - Apparel And Other Finished Products Made From Fabrics And Similar Materials SIC 24 - Lumber And Wood Products, Except Furniture SIC 25 - Furniture And Fixtures SIC 26 - Paper And Allied Products SIC 27 - Printing, Publishing, And Allied Industries SIC 28 - Chemicals And Allied Products SIC 29 - Petroleum Refining And Related Industries SIC 30 - Rubber And Miscellaneous Plastics Products SIC 31 - Leather And Leather Products SIC 32 - Stone, Clay, Glass, And Concrete Products SIC 33 - Primary Metal Industries SIC 34 - Fabricated Metal Products, Except Machinery And Transportation Equipment SIC 35 - Industrial And Commercial Machinery And Computer Equipment SIC 36 - Electronic And Other Electrical Equipment And Components, Except Computer Equipment SIC 37 - Transportation Equipment SIC 38 - Measuring, Analyzing, And Controlling Instruments Photographic, Medical And Optical Good SIC 39 - Miscellaneous Manufacturing Industries SIC 40 - Railroad Transportation SIC 41 - Local And Suburban Transit And Interurban Highway Passenger Transportation SIC 42 - Motor Freight Transportation And Warehousing SIC 44 - Water Transportation SIC 45 - Transportation By Air SIC 46 - Pipelines, Except Natural Gas SIC 47 - Transportation Services SIC 48 - Communications SIC 49 - Electric, Gas, And Sanitary Services SIC 50 - Wholesale Trade-durable Goods SIC 51 - Wholesale Trade-non-durable Goods SIC 52 - Building Materials, Hardware, Garden Supply, And Mobile Home Dealers SIC 53 - General Merchandise Stores SIC 54 - Food Stores SIC 55 - Automotive Dealers And Gasoline Service Stations SIC 56 - Apparel And Accessory Stores SIC 57 - Home Furniture, Furnishings, And Equipment Stores SIC 58 - Eating And Drinking Places SIC 59 - Miscellaneous Retail SIC 60 - Depository Institutions SIC 61 - Non-depository Credit Institutions SIC 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services SIC 63 - Insurance Carriers SIC 64 - Insurance Agents, Brokers, And Service SIC 65 - Real Estate SIC 67 - Holding And Other Investment Offices SIC 70 - Hotels, Rooming Houses, Camps, And Other Lodging Places SIC 72 - Personal Services SIC 73 - Business Services SIC 75 - Automotive Repair, Services, And Parking SIC 76 - Miscellaneous Repair Services SIC 78 - Motion Pictures SIC 79 - Amusement And Recreation Services SIC 80 - Health Services SIC 81 - Legal Services SIC 82 - Educational Services SIC 83 - Social Services SIC 84 - Museums, Art Galleries, And Botanical And Zoological Gardens SIC 86 - Membership Organizations or Unions And Similar Labor Organizations SIC 87 - Engineering, Accounting, Research, Management, And Related Services SIC 89 - Services, Not Elsewhere Classified SIC 96 - Administration Of Economic Programs
- SIC 732 - Consumer Credit Reporting Agencies, Mercantile Reporting Agencies
  SIC 731 - Advertising SIC 732 - Consumer Credit Reporting Agencies, Mercantile Reporting Agencies SIC 733 - Mailing, Reproduction, Commercial Art and Photography, and Stenographic SIC 734 - Services To Dwellings And Other Buildings SIC 735 - Miscellaneous Equipment Rental And Leasing SIC 736 - Personnel Supply Services SIC 737 - Computer Programming Services SIC 738 - Miscellaneous Business Services
  - SIC 7322 - Adjustment And Collection Services
    SIC 7322 - Adjustment And Collection Services SIC 7323 - Credit Reporting Services

Establishments primarily engaged in the collection or adjustment of claims, other than insurance. Establishments primarily engaged in providing credit card service with collection by a central agency are classified in Finance, Industry 6153; those providing insurance adjustment services are classified in Insurance, Industry 6411; and those providing debt counseling or adjustment services to individuals are classified in Industry 7299.

Industry trends:

The Adjustment and Collection Services industry, classified under NAICS 7322, is experiencing several notable qualitative trends. One prominent trend is the increased use of technology and automation. Companies are leveraging artificial intelligence (AI) and machine learning to enhance efficiency, improve accuracy, and streamline processes. This has resulted in a significant reduction in manual labor and human error, leading to better compliance and effectiveness in collections.

Consumer behavior shifts are also shaping the industry. There's a growing preference for digital communication channels over traditional phone calls or mail. As a result, firms are investing in robust multichannel communication platforms, including SMS, email, and social media interactions, to meet consumers where they are most comfortable.

Regulatory changes are another influential factor. Enhanced consumer protection laws and increased scrutiny from organizations like the Consumer Financial Protection Bureau (CFPB) are pushing companies to adopt more transparent and ethical practices. This trend towards higher regulatory compliance is expected to continue, promoting consumer trust and industry credibility.

Looking towards the near future, the industry is poised for further digital transformation. The integration of blockchain technology is predicted to offer more secure and transparent transaction histories, reducing disputes and enhancing trust. Additionally, the gig economy's rise may result in more freelancers and small businesses, increasing the need for flexible collection solutions that cater to a diversified client base.

Overall, the Adjustment and Collection Services industry is evolving toward greater technological adoption, improved consumer relations, and stringent regulatory compliance, setting the stage for a more efficient and responsible sector.

This industry is comprised of:

Adjustment bureaus, except insurance adjustment agencies

Collection agencies accounts

Explore related industries:

SIC 6153 - Short-term Business Credit Institutions, Except Agricultural SIC 8744 - Facilities Support Management Services SIC 6321 - Accident and Health Insurance

Buy the detailed report

This report includes the ability to segment your Industry by:

Region
Employees
Net Sales

Company Age
Total Assets
Ownership Type

Download sample reports

With iCFO You Get

What Is iCFO?

A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.

Sound Business Analysis

Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.

Your Business’ Health In Minutes

It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.