Debt Collection Software tools are powerful tools that manage the accounting process of any organization or agency. The main object of any debt collection software tool is to look at the database of an organization and list out overdue invoices. Later, it matches the money coming from invoices, and if any of the invoices remain unpaid, it begins the debt collection process. The debt collection software tools enable businesses to pursue payments easily without any efforts. The following are the top ten debt collection software tools with their features.
ACE:
ACE is one of the top debt collection software tools used widely by many businesses, government agencies, healthcare providers, financial institutions, etc. This tool is easy to use and has a user-friendly interface. It enables users to receive pending payment through various modes, like a credit card, direct payment, etc. The features incorporated in this tool are account history, accounts receivable, automated notices, ACH payment processing, client management, receipt management, recurring billing, importing & exporting data, real-time updates, etc. This tool is highly secured. The starting price of this tool is $975 per month.
SimplicityCollect:
SimplicityCollect is yet another top debt collection software tool used by many financial agencies. There are many advanced features included in this tool and have a user-friendly platform. The basic features include agency management, electronic notices, payment plans, contact management, commission management, client management, automated notices, payment plans, etc. This tool is compatible to work with Microsoft Windows operating systems and web applications. This application is best suited for start-ups, SMEs, agencies, and enterprises. There is no free trial period offered by this application. The monthly subscription plan starts from $59.
Beyond ARM:
Beyond ARM is also a more powerful and most-used debt collection software tool. ARM stands for Account Receivable Management. This tool is compatible to work on Microsoft Windows operating systems and is best suited for all sizes of businesses. There are multiple advanced features incorporated in it. This tool accepts payment via credit card. Additionally, this tool offers 24/7 customer support to its clients. Beyond ARM software can accept partial payments, it can present bills, invoice, and documents, schedule & issue reminders, credit & risk scoring, authenticated E-signature capability, etc.
Collect!:
Collect! Debt collection software tool is a more powerful and flexible tool used widely for many agencies, businesses, SMEs, and enterprises. This tool is very easy to use and has a user-friendly interface. Additionally, this tool can integrate easily with any other existing software and expands functionalities. Collect! Application is highly packed with advanced features enabling users to collect payments easily with less effort and stress. This tool offers a test version in which new users can test the features incorporated in it. This tool enables users to integrate with BillingTree and TCN Broadcasting applications.
Anytime Collect:
Anytime Collect debt collection software tool is more powerful and is specially designed for handling multiple invoices per account. This tool enables users to collect debts faster and easier. Users can install this tool on Microsoft Windows operating systems. It also supports Web-based, cloud, SaaS systems. The features encompassed in this tool are billing portal, contact database, customizable invoices, hourly billing, mobile payments, multi-currency, online payments & invoicing, project billing, etc. New users can watch webinars or read the documentation provided to operate this tool. There is a free trial version. The price of this tool is $6,000.00 per year.
Katabat Restore:
Katabat restore software is yet another more powerful and popular debt collection software tool. There is a machine learning technology incorporated in this tool that enables users to collect moby or debt faster and quicker. Additionally, it is very simple to use and has a user-friendly platform. It is highly secure and has a flexible interface. Users can integrate this tool with many other applications. A large number of expert advisors assist users to optimize the use of resources and improve business. The customer data is highly protected as this tool relies on world-class compliance and security standards.
Debtor Daddy:
Debtor Daddy is one of the top debt collection software tool meant especially for various start-ups and agencies. This tool enables users to collect money with less effort and stress. There are three crucial services offered by this tool. They are Remind, Call, and Collect. This tool is compatible to install on Microsoft Windows operating systems and works best for all types of businesses. There is a 14-day free trial period offered. The monthly subscription plan starts from $49. The features include free professional setup, works with Xero, customizable invoices, schedule invoices, reminders, etc.
Kuhlekt:
Kuhlekt debt collection software tool is a flexible and popular tool. This tool is a web-based application and is best suited for global businesses. There are multiple extraordinary features incorporated in it. This tool has got a simplified dashboard that represents the status of accounts and an overview of managers. Additionally, it also includes a to-do list, account details, viewing open account items, viewing all contact activities, real-time management, sending & receiving emails, a powerful dunning system, managing customer queries, etc. This tool is compatible to work on Microsoft Windows operating systems as well as Android devices.
Lariat:
Lariat is a cloud-based debt collection software tool that has advanced tools. These tools include account tracking, custom reports, notifications, real-time messaging, custom letters, and many others. This tool is specially designed for small and medium-sized businesses. The best tool incorporated in it is a CRM tool, which enables users to schedule events, convert leads, track sales, and many other activities. It accepts credit cards as well as ACH payment for its customers. Lariat tool offers a provision of creating a total of 60 customizable canned reports to its users.
EveryBill:
EveryBill is another top debt collection application used across the globe. This tool enables users to run a business efficiently and effectively with a large number of customers. This tool offers a fast and quick billing solution on mobile devices. EveryBill has a user-friendly platform that offers a platform for managing sales personnel, customer, inventory, credit dues, etc. The best feature of this tool is it creates PDFs of invoices and shares it through email, WhatsApp, Skype, or SMS. There are multiple templates, like adding a logo, signature, item details, etc. Users get a provision of partial payments.
