Best Debt Collection Software for REPAY

Debt collection is the act of vendor businesses contacting their client businesses or consumers to pay off the debt they incurred when they accepted goods or services from the vendor business on credit. When the party that owed the debt does not meet the original repayment terms, the debt is usually sent to another entity for debt collection. There are three main categories of debt collection: 1. Larger companies can create pre-collection departments to collect their own debts, either to resolution or until the debt is forwarded to a third-party collection agency. 2. Third-party collection agencies that collect on behalf of the first-party credit grantor. 3. Debt buyers that purchase portfolios of debt from first-party credit grantors. Debt collection closes the credit cycle and are an essential part of the credit economy enjoyed by developed Western nations.

InterProse ACE is a modern, cloud-based debt collection software platform built for collection agencies who specialize in consumer or commercial debt, including healthcare, property management, education, and government accounts. ACE also serves collection attorneys, property managers, original creditors, financial institutions and government entities. Heavily configurable and flexible with no one business use case in mind, our debt collection application facilitates account management, secured/unsecured payment plans, client invoicing and reports, legal judgment tracking, data reporting/analytics, and process automation while doing it all in a highly efficient and cost-effective way. Key features include account bundling, account-level documents attachments, heavy process automation, client access, trust accounting, credit reporting, consumer self-service tools, and numerous tech integrations. ACE customers enjoy monthly updates/upgrades to the platform, real-time data & document backups, inherited third-party security audit attestations (SOC2Type2, PCI, PENTEST, HIPAA, StarAlliance, etc.), real-time consumer and client portals, open-API connections, among other modern conveniences that let them focus on business.

Debtmaster®, 360 is a premise or cloud-based collection software that provides everything you need to manage your collections department and collect debt efficiently. Your agency will be the best. It will be easy to set up and run smoothly with secure features. This will allow you to reduce capital expenses and increase reliability and redundancy. This allows you to concentrate on your core business of Debt Collection. Advanced communication modules allow you to communicate with debtors quickly and efficiently using text and email messaging. These advanced tools, backed by consent controls as well as innovative third-party outsourcers like Solutions by Text, allow you to reach your Debtors electronically. Because of its proven track record, smart business owners trust Debtmaster®, debt collection software to increase productivity for debt collector agencies.