How do I Choose the Best Debt Collection Software?

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  • Written By: Henry Gaudet
  • Edited By: A. Joseph
  • Last Modified Date: 15 November 2019
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Whether part of an accounts receivable office or at the center of a debt collection agency, quality debt collection software can streamline the process and coordinate records so that better decisions can be made. When choosing a debt collection software package, you must keep in mind the needs of the business. Many extra features can add expense without adding value, and the added complexity might make the system more difficult to use.

When selecting debt collection software, you should consider the skill base of the people most likely to be using the program and how heavily the program will be used. Those less familiar with debt collection might want a simple program with easily understood functions, especially in an accounts office where debt collection is only one facet of the job. If you are choosing software for a debt collection agencies, on the other hand, you might find such streamlined systems limiting and might need to look for a more comprehensive debt collection software package.

Tracking, reporting and management functions are likely to be critical. Make sure to choose a system that presents information in a manner that is useful and can be understood. A good debt collection software package can update and coordinate information from multiple files quickly and simply, so that relevant information can be called up immediately.


Technical support might be important, especially when the system is first set up, or following other changes to your computer system. This is especially important for smaller businesses with no information technology (IT) personnel. If no one in your office is knowledgeable about computers, make sure that your debt collection software package has good support.

Hosted systems, where the debt collection software is accessed online for a monthly fee, might be worth considering. With no expensive software packages or updates to purchase, a hosted system might be an attractive, maintenance-free option for some businesses. For small business with no IT specialist, this might be good value. Other businesses, however, prefer to maintain ownership and control over their system.

Price is likely to be a consideration as well, but it should not be the first thing you consider. A cheap package is not good value if the system does not work well. Instead, look first for software that meets your needs, then compare the prices among these, and think twice before purchasing deluxe programs with impressive features that are unlikely to be used. It does pay to shop around, and deals can be found, so contact multiple vendors to look for the best prices you can get.


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