Collection Apps VS Debt Collection Software

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As part of the digital tools that we can implement in our debt collection management, there are debt collection apps and debt collection software . Although at first glance it is not easy to understand the differences between one and the other, the truth is that they are not the same thing. In this Moonflow publication, debt collection software , we offer you a comparison between a mobile debt collection app and specialized debt collection software .

What will you find in this text?

The functionalities

Automation

Integrations

Security

Personalization and flexibility

The functionalities
The biggest factor that distinguishes apps from debt collection software or systems is their functionality. Apps tend to have more limited functionality. For example, some apps found on Capterra only serve to record and facilitate telephone contact between debt collection managers and clients.

On the contrary, a system, or collection software, as its name indicates, is a systematic set of key parts that contribute to the correct functioning of an intricate process such as collections.

While a collection application , even one developed internally in a company, can solve some specific tasks, a system is capable of covering greater needs and connecting different processes within the company.

For example, a collections application may focus on sending only payment buy uae email database to clients, but not offer certain advanced functionalities that are present in the systems, such as the ability to generate collection KPIs , create automatic reports, automatically reconcile with banks, create payment portals, among others.

Additionally, many of these applications still use Excel-based technology to manage collections, making them useful primarily for small businesses.

Automation
Another factor that differentiates collection applications from software is their level of automation, which is lower in applications. As we mentioned above, due to the limited functionalities of applications, many collection processes , including the generation of reports, are performed manually. This contrasts with collection software, which integrates technology capable of generating these reports automatically, producing more reliable collection reports in less time and without the need for human intervention.

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Integrations
If we look at the descriptions of mobile collection applications , we will also notice that they cannot be integrated with other corporate technologies. In that sense, your collection app will not integrate with your company's ERP or CRM, which in the long run is deficient. In contrast, if you are looking for a solution that does favor integrations, an accounts receivable software is a more strategic decision.