Most collections and recovery organizations are involved in digitizing and improving their business processes for higher performance. These departures from longstanding business-as-usual practices started as a response to technology developments, consumer behavioral trends, and new regulations. But since the pandemic, urgency and pace are up, spurred by the need to cope with economic volatility, make best use of workforces under pressure, and reach consumers living in their own digital-centric constellations.
Debt management system configurability is essential for success in the world of change where collections now operate. It’s not only key to rapid process improvement and agile adaptation, but also to streamlined, more reliable, less costly regulatory compliance
While collections operations still lag other areas of large enterprises in digital transformation and process improvement, operational changes are now occurring at a much faster clip than in the past.
How do you evaluate the configurability of debt collection software?