Debt Collection Software Industry Analysis, Market Size, Regional Outlook, Competitive Strategies and Forecasts 2017 to 2021

Publisher’s market study identifies the increased adoption of cloud-based debt collection software to be one of the primary growth factors for the debt collection software market. Several organizations are increasingly adopting cloud computing to overcome the challenges involved with the growing volume of digital data and content in networks globally. This influences the need for increasing the size of the cloud storage facilities in proportion to the growing bandwidth demands of the organizations. Features such as the flexibility to scale up and down depending on the company's requirements, the high speed of deployment, and the low upfront costs will influence the implementation of cloud-based debt collection software. Our market research analysts estimate that this market will grow steadily at a CAGR of almost 6% by 2021.

Integrating analytics with the debt recovery software helps in optimizing the debt operations by reducing the average credit collection period, streamlining quality assurance monitoring processes, and improving agent retention and overall agent performance. Additionally, the debt collection software also automatically determines the optimal technique to handle each customer and customer interaction with embedded predictive analytics and decisioning engine. The integration of analytics helps predict agent and debtor behavior and also helps gain insights into the debt recovery and collection. This will increase the integration of analytics in debt collection software which will be one of the key trends that will gain traction in the debt collection software market during the next four years.

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Competitive landscape and key vendors

The debt collection software market is highly fragmented due to the presence of several international, regional, and small vendors. The international vendors dominate the market based on geographical presence, product portfolio, features, financial strength, and R&D. Additionally, these vendors also have high market visibility, deep market penetration, and strong market momentum. To gain a competitive advantage in the market, debt recovery vendors are offering differentiated and stand-alone products. The large vendors are focusing on M&A activities since this helps them consolidate their market share.

The leading vendors in the market are -

Chetu

Debtor Software Solutions

Experian Information Solutions

Fair Isaac

Totality Software

The other prominent vendors in the market are Advantage Software Factory, A4dable Software, CollectPlus, Comtronic Systems, CyberCollect Software Solutions, DAKCS Software Systems, DebtCol Software, Debtpack, ezBackOffice, ezyCollect, ICOLLECT, Indigo Cloud, Lariat, MIMICS, OneStep Solutions, Quantrax, Radixweb, Scorto, SeikoSoft, Sentinel Development Solutions, STRATEGIC INFORMATION TECHNOLOGY, and TrioSoft.

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Segmentation by type and analysis of the Debt Collection Software market

Cloud based

On premises

On-premise deployment allows organizations have complete control over their critical data. Large organizations primarily adopt on-premises debt collection deployment method as they have all the necessary infrastructure including in-house IT support and backup servers to provide the extra level of security. Vendors providing on-premises debt collection software also offer installation, data migration, and employee training services during the implementation period of debt management software.

Geographical segmentation and analysis of the debt collection software market

Americas

APAC

EMEA

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