What to consider before buying collections technology

The rise in non-performing loans (NPLs) following the global financial crisis increased pressure on firms to optimize their collections operations.

From initial contact with delinquent accounts to legal or restructuring action, operations must demonstrate a compliant customer experience while using technology to generate efficiencies and consistency.

Collections operations should aim to source a system with true vendor independence, enabling modifications and enhancements to be made quickly, easily and at low cost.