The Many Debt Collection Software Products The Collections Market

The Many Debt Collection Software Products The Collections Market

Debt collection is a process by which outstanding debt repayment is collected from people when they are due. Debt collection software gives the information regarding the debtors and the amount due from them. It not only gives the information about the total amount due from each of the debtors but also throws light upon the fact as to where the debt came from, in what kind of installments and the rate of interest to be levied in case the person is unable to pay up his dues.

The various brands of debt collection software available in the market today are as follows:

e-collections: this is an award winning software from Sentinel Development Solutions. It is very simple to install and use. Some of the features of this software include IVR payment records, skip tracing and drag and drop account information.

Genesis collection software: this is software promoted by the Amvensys Technologies. This proves to be great help in your collection effort by providing effective management tools which devise collection strategies. Like the above mentioned, this software also provides skip tracing and social security numbers of the debtors.

Latitude- this software devised by the Latitude Software is proving to be extremely effective in the debt collection industry. Apart from providing the detailed information on the debtors, this software also provides legal support and outsourcing information. It has been built using the SQL server database technology.

Titanium Ore- this debt collection software from CR Softwares, helps the creditors to streamline their business. It offers great power, flexibility and speed, which the other software find difficult to match. It manages one's collections in an open receivables environment. It has been increasingly used by credit unions, tax agencies and financial institutions.

DCLS Plus- this is one of the most power packed software packages available. It is quick to upload, and can prioritize accounts with details on the past activities of the debtors. It also gives access to powerful intelligence reporting. This software is very popular with law firms and collection agencies.

PIMS & e-strats this software is devised and marketed by Portfolio Inventory Management Systems. It is a web based collection software and portfolio management system. It uses SQL server for storing data at the back end.

B Frame Recovery management system- This software marketed by B Frame data systems is a browser based collection system and helps to provide an extremely user friendly collection and recovery system. B frame data systems have a long history in the debt collection software development and have implemented the best of their experience into this software.

Apart from the above-mentioned, there are a few more debt collection software packages available in the market. Which ever one a collection agency opts for depends upon their own requirements, budget, and the features that the softwares would be able to provide.

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