New Debt Collection Software Includes A Web-based Dialing Solution

Debt Collection Software has been undergoing steady changes since the early 80s

, in order to meet the evolving needs and requirements identified by the active debt collection community.In the last few years, with the dramatic changes in the economy, Debt Collection Software companies have listened closely to the voice of their customers. For instance, collection agencies are now faced with a terrible dilemma. Clients are sending more and more accounts to them, but collectability is becoming more and more of a problem.

As collection results drop, it is harder and harder to maintain the same number of employees. As debt rises, collections drops and maintaining payroll becomes difficult for collection agencies. One of the more obvious solutions was the use of automation to power through the increasing volumes of accounts. Debt collection software offers an integrated dialer and IVR. This combination allows agencies to successfully work high volumes of accounts through predictive and messaging campaigns. It also allows debtors to make payment arrangements without collector intervention through the IVR. The software can be refined constantly to ensure compliance with such legislative issues as FOTI regulations and wireless compliance standards. Many collection agencies currently enjoy the benefits of this solution.

Debt Collection Software companies learned, however, that many clients needed something more. Either they wanted the opportunity to temporarily add lines for specific dialing campaigns or they simply couldnt justify the additional expense of the turnkey, stand-alone solution. A new web-based dialing solution was then introduced.

The solution is actual a simple, pay as you go messaging system that is completely integrated with existing debt collection software. By simply accessing a portal, collection agencies can set up their dialing campaigns using all the features and functions available from the debt collection software system. Software companies also make campaign setup easy by offering help with text to speech dialogs. Some messaging solutions are designed with the option to allow the debtor to hit one key and be connected to a collector in the agency office. The collector will hear the account number whispered in their ear. Once connected, all conversations are recorded and stored for later review. The recording feature is important for training purposes as well as for unexpected detail requirements that may arise long after the call is completed.

The benefits are many, and the advantages are great.

by: Deborah Kilroy

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