Debt Collection Agency Software

Debt collection agency software automates the collections process and helps collection agencies and other creditors to manage their credit, collections and payment operations. 

The software provides various functions, including: 

• Tracking and managing debts 
• Automated customer engagement and communications 
• Online payments and payment processing 
• Debt validation 
• Negotiating payment plans 
• Compliance management 
• Reporting and analytics 
• Accounting 

Collections software integrates with third-party apps and the company's own databases for real-time information and useful data on customers. For added functionality, this software also integrates with accounting and invoicing solutions as well as CRM’s. 

Using AI to drive automated debt collection 

Automation is a sought-after function in all organisations and debt collection is no exception. Using conversational AI applications to automate customer engagement is revolutionising the collections industry. AI chatbots step in to carry the bulk of customer queries (75% +) with agents taking over only in more complex situations. 

Customer self-service apps are favoured by both companies and their customers where customers can quickly manage their own debt, from viewing accounts, checking balances and making payments to setting up payment plans and committing to promises-to-pay. 

Learn more about debt collection agency software: 

• Debt Collection Software 
• What is a Debt Collection Agent 
• Debt Collection Agency