Collection software for small business is a necessity these days. We have the best solutions for debt collection available for a 30 day free trial

If a customer disappears, refuses to return calls, or refuses to pay the debt they owe to a business, recouping those losses becomes an expensive, time-consuming job that can sink a small business. Third-party debt collection is the common solution, but in this scenario a portion of the uncollected debt generally goes to the collection agency or firm, but there is another solution to help small businesses collect on outstanding debt.

Collection Software for Small Business Recovers Debts

SimplicityCollect was designed by professional debt collectors to provide an efficient collection software for small business. This software allows business owners and account managers to keep collections in-house and recapture their lost income through automated processes and and easy-to-use interface. This specialized collection software tracks each case individually and provides a road map to navigating the legal requirements for the next step in collecting. The paperwork and forms generated by the software allow the agency or business to be flexible in it’s reporting or documentation needs while automating the process to allow bulk generation of these documents.

Taking Control with SimplicityCollect

SimplicityCollect provides automated tools allowing small businesses the ability to spend time on business rather than chasing debt owed to the company. The easy-to-use web interface allows businesses the ability to report to credit bureaus, track payments and set up payment plans, automatically generate documents and debtor reports, and so much more, this is why your company needs to invest in collection software for small business. Save money and time with easy software to manage all the debts owed.

If you are having problems finding a debtor, SimplicityCollect can help with that as well. Our export tool allows small businesses the ability to export data to send to companies like Accurint, MasterFiles, Lexus Nexus and other for skip tracing services. Once records are skipped, a debtors information can be easily updated in bulk and next actions taken to collect the debt.

Simplicity’s collection software for small business gives owners and managers the power and flexibility to both collect on debt effectively and recover money directly.

Effectively Allocating Your Resources

Some small business owners make the mistake of cutting back in the personnel department in order to save money. A better way to remain both expansion-ready and budget-conscious is to re-delegate some of the mundane clerical tasks associated with collections in order to capitalize on the skills people possess and allow your computers to do the busy work they were made for.

The Right Collections Software for Small Business Growth

Selecting the right collections software program will help your small business perform a number of functions that go far beyond regular ledger-balancing. Although it’s important to maintain accurate records, the things you do with that information are even more critical.

Collections software packages help organize data but they can also automate decisions and process that allow greater flexibility in how you handle collection cases. Let’s take for instance missed payments. Without the right debt collections software, your staff would have to remember when debtor payments were due and follow up with the debtor to get the payment. An efficient software would provide automatic notification of payment received and due thus freeing up staff time and resources to focus on more critical aspects of the collection business.

With the right collections software program, it’s much simpler to run an accounts received or in-house collections department. Even if you’re short on staff, many apps are highly extensible, and you can access your data from virtually any geographic location, regardless of how much running around you plan on doing.

Small businesses need to take every opportunity they can get to increase what their efforts yield them. If your small business plans on making money from your collections instead of spending vast sums to perform them, you’ll invest in a reliable collection software package that can help to automate your collection processes.

What is Accounts Receivable Collections Software?

Collections software helps a business to manage the administrative tasks of debt collection. When a small business does not have to spend hours sorting through accounts to find the most delinquent, and checking to see which collection methods have been tried, they are better able to successfully close accounts. Accounts receivable collections software keeps collection activities organized and keeps debt collection accounts easily sortable. A business can easily create a schedule of activities to maximize their collection budget. Accounts past ninety days are often never going to be paid without legal action. With collections software to notify business owners of seriously past due accounts, there are more options for continued action.

Selling Debts for Instant Cash

Small businesses are highly dependent on cash flow. Seriously overdue payments can put a business in a very bad position. However, a business is able to sell their debts in order to obtain some value from the transaction. It is best to attempt collections activities, but for accounts that have passed the ninety day mark with no response, selling off the debt may be a viable option for some businesses. By selling off past due account, the business gets an instant infusion of cash, and stops wasting valuable time with unsuccessful collection attempts. An alternative to selling off bad debt would be to acquire a collections software system that will help you to automate the collection process and save on valuable staff time.

Computer programs have been replacing outsourced companies for debt collecting and retrieving bad debts. For others, the notion is that after six months past due, sell the debt to a third party and allow them to recover what they can. This can be a good strategy for a larger company, but for a small business, every penny matters.

Simplicity Debt Collection Systems – Save Money

Debt collection systems can generate invoices for those accounts in default. Letters can be mailed directly to the customer from most systems. Reports can be generated to provide in-house collectors the ability to call and attempt collection efforts. The process of collecting debts has been streamlined, allowing companies the ability to retrieve more uncollected money without the added costs of the collection process.

For a company that is struggling to make it in today’s business world, having money owed can put extreme pressure on the organization. The need to quickly and easily collect owed debts is paramount to ensuring enough capital and income for the business to continue operating. Debt collection is a difficult process and not something business owners generally want to deal with, but it is a part of the process. With computer programs, the process is less time consuming, and easier to handle. The right software can help to reduce the amount of time an owner spends worrying about debts, and allows them to focus on what they do best – their business.

Quality debt collection systems are available for the small business owner. There are quality agencies and collection firms who will handle your debts as well, on a contingency of debt purchasing basis. We at Simplicity are happy to help refer you to a debt collector in your area or provide you a debt collection system to help you organize your debt in-house.

Your Debt Collection Solutions: Debt Collection Software

In order to keep from wasting your time and the time of your employees on getting back the money that you are already owed, you should look at ways in which you can automate your debt collection procedures. Using the right debt collection software can free your time up to do exactly what you do best, which is simply to run your business. Most debt collection solutions allow you the ability to schedule and automate critical processes. Additionally, most provide features such as automatic document generation, constant reminders, and payment agreements to save you time and money when pursuing debtors and their outstanding debts. Our debt collection solutions have saved many companies time and effort with collecting on past dues.

Increased Efficiency

An efficient debt collection software solution will be working on your behalf even if you have to go on a business trip, step out of the office for a minute, or tend to an unexpected event. The great thing about software is that it is consistent, and runs even when you can’t be around to run it. Many debtors simply need to be reminded repeatedly that they owe you money. An effective debt collection solution will provide you with the resolution to easily follow up with these debtors and get outstanding monies collected in a timely manner.

Simplicity, an Effective Debt Collection Solution

Simplicity debt collection software provides an efficient means for processing and tracking your outstanding debt. The software was specifically developed to ensure seamless tracking of outstanding collection cases without increasing expensive overhead costs or staff. Whether you are a new collection business, a small business owner, or have existing debt collection solutions that you use, you owe it to yourself to give Simplicity a try and see how it can improve your overall performance and bottom line.

Rather than jumping on the first software offering you come across, compile a detailed list of available software solutions within your budget and feature set. A list of available collection software solutions can be found by doing a Google or Yahoo search. Keep in mind that the best solutions for your business aren’t always the most expensive or complex solutions. Evaluate your business needs and select a debt collection software that fits within those needs.

Getting the right debt collections software at your company will save time and money. 

Make sure you take the opportunity to contact the software solutions you are interested in. Ask them about any hidden fees or costs that exist and if they have the features you need. Ask them about support, pricing structure, and most importantly ask for references. You want to align yourself with a company that others use, like and want to talk about.

Find Reviews of the Debt Collections Software

You want to align yourself with a debt collection company that others use, like and want to talk about. In order to do this, you should check the reputation of each company by contacting references the company provides. If a company is hesitant about providing references it is generally best to stay away from those companies. In addition to checking references, you can search the internet for company reviews and testimonials. You can generally get a pretty good feel for what a company is like by the manner in which they respond to your initial inquiries and questions. Although the review and homework process may take some time it should help you in finding and investing in a debt collections software solution that works the best for your business.

Why Businesses Use Debt Collection Solution Software

Both businesses and collection agencies can benefit from using specialized collections software. For business owners, this software allows them to perform their own in-house collections. Recovering debt can be a very difficult task requiring constant phoning and contact with frustrated and often times unhappy debtors. Debt collection software helps business owners create and send past-due letters, report delinquent consumers to the credit bureaus and track non-paying debtors. This helps business owners recover outstanding debts on their own, instead of having to sell old debts at huge discounts to collection agencies. Simplicity has the most affordable and proven debt collection software that you can try for a 30 day free trial!

How Collection Agencies Also Benefit

For collection agencies, a debt collection solution can allow a business the ability to easily organize accounts, record debtor data, generate documents, and streamline their work flow. Persistence is the key to recovering delinquent accounts. However, unless agents stay organized, it is easy to forget about hard-to-reach debtors. Collections software helps agents prioritize and stay on top of their accounts. These programs also allow supervisors to assign accounts and monitor performance.

A few other benefits of collections software is that it is also capable of generating letters, obtaining credit reports, reporting delinquencies to the credit bureaus and handling other important tasks. Some software is even capable of making automated phone calls, managing call backs, leaving voice messages, sending e-mail, faxing and generating text messages. This helps agents actively pursue all avenues of communication and increase productivity without being overly aggressive or harsh.

Anyone in need of debt collection solutions should consider utilizing a reliable and flexible collections software. SimplicityCollect makes it possible for business owners to reduce losses and reconnect with customers, while allowing collection agencies to take their business to the next level.

Integrating Collection Database Software

A key benefit of using databases to store and retrieve collection information is the ability to integrate the program with other useful software applications. Collection software databases can generally be customized to contain specific fields of data that can later be accessed for reporting or easily searched upon. It is important to know what kind of database platform your collection software is built on. Not all database platforms are created equal and each has its own strengths and weaknesses. The advantage to any kind of database driven collection software is that specific updates can be made to portions of the data without impacting other areas that may need to retain an original value. This is useful for creating an archive of older data that can be used for comparison.

When planning on integrating a collection database software application in your business, be sure to examine closely the database engine and platform being used by the software you have chosen. For instance, an application built around Microsoft’s Access or Excel database will be slow and not accessible by multiple users at the same time while a MSSQL or MySQL platform will lend itself to quick response times and a solid multi-user platform. With the proper planning and careful integration of the right collection database software package, it is easy to see the additional value that can be added to an already successful collection business.

• A web interface allowing easy, portable access
• A pricing structure to fit within your budget
• A client portal allowing clients the ability to access their cases
• Financial solutions for easily calculating and disbursing payments
• The ability to automate process and automatically generate letters
• Phone and email support and system documentation to help you in times of need
• Is the company viable and do they have your best interest in mind?

Make sure you take the time to evaluate all solutions, debt collection industry very closely. Make sure you have a good grasp on what your needs are and how those needs can be met by each software solution.

Solutions Debt Collection Software Systems Can Provide

Debt collection software can provide the solution to many of your business needs. It can help to automate critical processes thus freeing up staff time, it can generate documents and track the legal or collection status of accounts in an efficient manner. As you carefully select the software that best fits your needs see if you can give the software a try before you actually purchase the software. Most businesses will let you “try” their software for a period of time to ensure that you are comfortable with the purchase and the feature set they provide.

Regardless of which software system you choose to align with your company, an efficient solution for debt collection will help to make your business run smoother and free up critical time for collectors to spend time making money for the bottom line of your business. We have the right collection software that will save you time and money.

1. Changes to Case File Number and Status are now logged in the case notes.
2. There is a new user group option for adding financial transactions. This is so, a group may have access to add transactions (i.e. payments), but they cannot delete or edit them.
3. Added interest calculations “last quarter interest accrued” and “current quarter interest accrued”… these are fed into docgen_temp_vars for use in docgen.
4. Added User access limitations… so that users can be allowed access only during certain hours in the day, and also weekend access can be turned off.
5. Added custom fields to client portal enter claims screen… also, now debtors are linked with existing debtors in client portal enter claims on SSN. Additionally, added contact to debtor, when debtor is company.

See what other features we have incorporated into our online debt collection system.