Top 10 Things to Consider When Purchasing Accounts Receivable and Debt Collection Software
The best vendors provide a one stop shopping solution. Today you may be satisfied with three workstations and one or two clients. As you grow, you will need all of the tools that make for a successful collection operation: predictive dialer, integrated voice response, online bill payment solutions, 24/7 client internet access, just to name a few. Does the vendor provide a one stop solution or will you need to find all of these tools on your own? Ask the questions.
7. HOSTED (SaaS) VS SERVER BASED: Understand the differences. In recent years, this subject has been hotly debated. New companies are sprouting up on a daily basis offering some type of hosted solution that is clearly cost effective (at least on the surface). Some of the key issues that you need to consider include the following:
- Speed: delays can occur in several places: your machines, resources at the host site etc.
- Costs: a hosted solution is similar to renting a car; at the end of the lease you have nothing to show for it. A server based system is your investment in the company.
- Change process: how quickly can a change to your business application occur? In a server based system, you may be able to make the change yourself and immediately. Client contracts often depend upon your ability to quickly adapt your system to meet their requirements. Time lags could cost you the business
In a server based environment, you need to understand the server costs and requirements. Does the company recommend a hardware vendor? Do they give you a choice in vendors? Is purchasing directly from the software company a requirement? Can you make your own selection and purchase from an independent vendor?
Deborah Kilroy is a management consultant who specializes in accounts receivable management. Ms Kilroy
managed large collection call centers as part of her career in the telecommunications industry. She has worked as
a call center management consultant and spent several years in sales and marketing positions within the ARM
industry. She has a BA in psychology and a MS in Management.