As the collection industry progresses towards multichannel and omnichannel collection strategies, the need to manage those varied channels of communication becomes a much bigger requirement. Failure to integrate multiple collection channels through a single streamlined system will leave money on the table.
An effective collection system must seamlessly manage emails, texting, IVR, outbound and inbound calls, as well as the payment portal and compliance requirements. Anything less than this has your business operating at a disadvantage.
Could a new investment provide opportunity for business growth? One of the largest reasons to look at a new collection software platform is the availability of advanced capabilities.
You drive a newer model car because they are faster, safer, more efficient, and have more updated technology than a ten-year-old model. Using a ten-year-old collection system is like driving a 2007 model instead of a 2017 model. There is a world of difference in the quality due to advances in technology, even if the body looks similar.
Compliance and Omnichannel Solutions
Could having new collection software provide improved built-in compliance and omnichannel solutions for the consumer? Your software should be able to handle compliance and consent tracking securely and safely with account storage, documentation, and workflow automation.
An effective collection software needs to provide all avenues of multichannel and omnichannel communication for the consumer. As the company mails a letter, makes a call, or the consumer visits the payment portal site, the collection software system must track those activities, while remaining compliant at each step in the completed process.
The system used must track client activity, the collection laws of each state, along with meeting all federal requirements for each activity, type of contact, and type of debt of the account putting compliance in the forefront of the business.
Latest Collection Software
When was your collection software considered to be the “Latest in the Market”? If you are still using a system with the capabilities common in 1987, or even 2007, and you find yourself asking “If it’s not broke, why fix it?”, then it could be time to see a demonstration of a newer, more modern software platform. See for yourself all of the advanced capabilities that exist in today’s updated software versions.
Come to DAKCS for a free, web-based or onsite demo and compare our software with your current system to see the major positive impact and difference Beyond ARM will make in your business.
DAKCS would be proud to help you compare our collection software platform to any other technology provider and provide some insight into this preliminary research which will save you time and money prior to making this big decision.
Please contact us 1.800.873.2527 or firstname.lastname@example.org.
DAKCS Software provides comprehensive debt collection and Accounts Receivable management software platform solutions to a variety of industry markets. We leverage over 30 years of experience to provide the most advanced collections software, which we continuously update to maintain the highest standards of service and compliance with new laws and regulations.
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