Debtor Trace Case Management Software

One of the main issues from research in to the debtor trace industry is the software that is currently being used to manage the debtor trace case process. Research suggests that all trace firms or departments have systems in place to manage their trace process, however, in many cases these are legacy collection systems or simple Spreadsheet databases. The main reason for more complex software systems not being in place is due to there not being much need.

However, substantial growth in the industry as well as increased rules and regulations, have lead to many trace case management software systems becoming outdated, inefficient and unsuitable for the job.

A recent survey titled ‘Debt Collection and the Recovery Industry’ illustrated that 73% of Collections firms thought increased regulations had added to their costs of debt collections, with 39% of these believing new regulations were adding upwards of 10% on their collections costs. Although it doesn’t detail the areas the increased costs have came from, it wouldn’t be a surprise if issues with trace and trace software had a big part to play.