State-of-the-art debt collection software is highly sought after in the debt collection industry. Tracking accounts receivable is a laborious process involving critical data that needs to be under surveillance. Automating these operations can speed up the process and simultaneously free up labor for other tasks.
On this note, the global debt collection software market is expected to reach $6,778 million by 2027, according to the most recent market estimates, growing at a CAGR of 10.2 percent during this period.
The primary factor driving this growth is the increasing requirement for safeguarding sensitive data from cyber-attacks, which on-premises debt collection software achieves with ease. Rapid digitalization of industries and the advantage of automating the collections process further contribute to the market’s expansion.
To put the spotlight on such key developments in the industry, Financial Services Review illustrates how companies are leveraging the latest technologies to meet the debt collection expectations of businesses. The edition features thought leadership articles from Steve Harris, SVP, Chief Ethics and Compliance Officer at Lincoln Financial Group, who speaks on the recent technological advancements made in compliance programs, and Joseph Stokes, Head of Cyber Security and IT Governance at Telesure Investment Holdings, who talks about the growing need for organizations to adopt cybersecurity measures.
In this edition of Financial Services Review, we also bring you the stories of some of the top debt collection software providers that deliver the best smart solutions for their clients. The list includes the Baker Group, which is distinct for its proprietary business development and project management tool that enables immediate injection of cash flows and maintains backlogs of unpaid receivables.
We hope this edition assists you in finding the ideal debt collection software provider that will deliver effective and efficient services that optimize and streamline your debt collection operations.
Let us know your thoughts!
