--- title: What is Debt Collection Software? description: Debt collection software transforms your high risk and time consuming manual tasks to enable effective prioritisation using instant and accurate data image: https://blog.soliditech.com/hubfs/what-is-debt-collection-software-main-image---UPDATED.png --- [![SOLIDitech Business Automation](https://blog.soliditech.com/hs-fs/hub/343611/file-1491814142.png?width=1024&name=file-1491814142.png "SOLIDitech Business Automation")](https://blog.soliditech.com/blog) ** [![Blog Home](https://no-cache.hubspot.com/cta/default/343611/f345118a-fb72-4618-86d2-482d3380b6d0.png)](https://cta-redirect.hubspot.com/cta/redirect/343611/f345118a-fb72-4618-86d2-482d3380b6d0) ** # SOLID Business Automation Blog Filter by Category [show all](https://blog.soliditech.com/blog) Filter by Category ** - [Show All ](http://thoughtmate-1.hs-sites.com/orange-blog) ### Posts by Topic - [Business Automation (24)](https://blog.soliditech.com/blog/topic/business-automation) - [Customer Service (12)](https://blog.soliditech.com/blog/topic/customer-service) - [Project Management (11)](https://blog.soliditech.com/blog/topic/project-management) - [Data Security (10)](https://blog.soliditech.com/blog/topic/data-security) - [Billing (9)](https://blog.soliditech.com/blog/topic/billing) - [Custom Software Development (8)](https://blog.soliditech.com/blog/topic/custom-software-development) - [Data Reporting (5)](https://blog.soliditech.com/blog/topic/data-reporting) - [Collections (4)](https://blog.soliditech.com/blog/topic/collections) - [Development Knowledge (4)](https://blog.soliditech.com/blog/topic/development-knowledge) - [Provisioning (4)](https://blog.soliditech.com/blog/topic/provisioning) - [Financial Processes (3)](https://blog.soliditech.com/blog/topic/financial-processes) - [Integrated Solutions (3)](https://blog.soliditech.com/blog/topic/integrated-solutions) - [Revenue Leakage (3)](https://blog.soliditech.com/blog/topic/revenue-leakage) - [Customer Self-Service (2)](https://blog.soliditech.com/blog/topic/customer-self-service) - [Customer Portals (1)](https://blog.soliditech.com/blog/topic/customer-portals) - [Efficiency (1)](https://blog.soliditech.com/blog/topic/efficiency) - [Time to Market (1)](https://blog.soliditech.com/blog/topic/time-to-market) # What is Debt Collection Software? ** [Annette Gardner](https://blog.soliditech.com/blog/author/annette-gardner) ** Jan 12, 2017 ![](https://blog.soliditech.com/hubfs/what-is-debt-collection-software-main-image---UPDATED.png) Debt collection software transforms your monthly 3-day ‘find the spreadsheet, update it so it’s accurate(ish) and then try and contact everyone..nicely’ collections trauma into an effective, instant and reliable mechanism for managing debt recovery. Debt collection software manages your entire debt collection process. It starts with your database and a list of overdue invoices. It then matches money coming into those invoices and if an invoice remains unpaid for a specified amount of time, the ‘debt collection’ process begins. And this is all done automatically. (Hurrah!). # What exactly is the debt collection process? ![The debt collection process](https://blog.soliditech.com/hs-fs/hubfs/Blog/What%20is%20debt%20collection%20software/What-is-Debt-Collection-Software-banner1-1.jpg?width=600&name=What-is-Debt-Collection-Software-banner1-1.jpg "The debt collection process") #ShowMeTheMoney. There are 3 key elements of an effective collections process which we [discuss in this post](https://blog.soliditech.com/blog/3-key-elements-of-an-effective-collections-process). The exact steps in the debt collections process may vary across software packages and preferred business processes, but could look something like this: - **3 Weeks in advance:** Invoice with a payment due date - **10 Days after due date:** Email reminder with a copy of the invoice/statement - **5 Days later:** SMS reminder - **5 Days later:** Final written warning and a reminder to the Collection Agent to give the customer a personal phone call - **5 Days later:** Services are suspended until payment is made Imagine how much easier your life would be if all of that happened automatically? Of course, there are other features included too: - **Ageing reports** covering 30 - 90+ days, for key staff members: Easy to view and/or automatically send to specified people - **SMS and email templates** for various reminders: Great! Designed once and used repeatedly # 4 Reasons you should use debt collection software: ![4 Reasons you should use debt collection software](https://blog.soliditech.com/hs-fs/hubfs/Blog/What%20is%20debt%20collection%20software/What-is-Debt-Collection-Software-banner2.jpg?width=628&name=What-is-Debt-Collection-Software-banner2.jpg "4 Reasons you should use debt collection software") 1. **More Effective Prioritisation.** Don’t waste time on smaller, low value debtors. Data that’s accurate, searchable and centrally located means you have all the correct data at your fingertips; making prioritisation possible and effective. Simply pull a report (at any stage) based on various criteria such as value of outstanding debt or the age of the debt and maximise the effectiveness of your limited time (even if you have a massive customer database). 2. **Instant, Accurate Data.** With automated debt recovery software, the data in front of you is real-time and accurate. Guaranteed. No double checking required, just reliable information you can count on, and report to management with. 3. **Scalable and Flexible.** Good debt collection software has the ability to adapt to the changes within your business. It is scalable and grows with you, and is flexible enough to adjust with your ever evolving processes. 4. **Automation of Manual Tasks.** The best part about software is its ability to automate manual tasks and processes. Smaller repetitive tasks are taken care of automatically and you are notified as soon as an intervention or approval is required. The goal at the end of the day is successful debt recovery, and debt collection software goes a long way to ensuring reliable, accurate processes and reduced revenue leakage.   [![Download 18 typical business processes that can be automated to save mega time](https://no-cache.hubspot.com/cta/default/343611/fcb2176d-70b4-453c-9235-9790ccb46822.png)](https://cta-redirect.hubspot.com/cta/redirect/343611/fcb2176d-70b4-453c-9235-9790ccb46822) [image credit: Kues1 - Freepik.com [1](http://www.freepik.com/free-photo/young-businessman-happy-expression_1011248.htm), [2](http://www.freepik.com/free-photo/young-crazy-man-happy-expression_1011156.htm), [3](http://www.freepik.com/free-photo/young-crazy-man-worried_1011293.htm)] ** [Collections](https://blog.soliditech.com/blog/topic/collections) [** 5 Things We All Hate About ISP Billing Software ](https://blog.soliditech.com/blog/5-things-we-all-hate-about-isp-billing-software) [** How Automation can Benefit a Small Business ](https://blog.soliditech.com/blog/how-automation-can-benefit-a-small-business) ### About Author ![Annette Gardner](https://blog.soliditech.com/hubfs/Annette-Gardner-Marketing-Manager.png) Annette Gardner I’m a Marketing lover that believes in affecting inbound marketing with great content and beautiful design. I also love Pizza and Coffee - in no particular order. Related Posts [![Undeniable Proof That You Need an Automated Collections Process](https://blog.soliditech.com/hubfs/Undeniable-Proof-That-You-Need-an-Automated-Collections-Process---UPDATED.png) Undeniable Proof That You Need an Automated Collections Process ](https://blog.soliditech.com/blog/undeniable-proof-that-you-need-an-automated-collections-process) [![3 Helpful Tips to Develop a Great Collections Process](https://blog.soliditech.com/hubfs/3-Helpful-Tips-to-Develop-a-Great-Collections-Process---UPDATED.png) 3 Helpful Tips to Develop a Great Collections Process ](https://blog.soliditech.com/blog/3-helpful-tips-to-develop-a-great-collections-process) [![3 Key Elements of an Effective Collections Process](https://blog.soliditech.com/hubfs/3-Key-Elements-Of-An-Effective-Collections-Proces_Updated-Graphics---UPDATED-1.png) 3 Key Elements of an Effective Collections Process ](https://blog.soliditech.com/blog/3-key-elements-of-an-effective-collections-process) ** - [**](http://www.facebook.com/share.php?u=https://blog.soliditech.com/blog/what-is-debt-collection-software/) - [**](https://twitter.com/share?url=https://blog.soliditech.com/blog/what-is-debt-collection-software/) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.soliditech.com/blog/what-is-debt-collection-software/&summary=&source=CeBIT) ### Comment ## Subscribe To Blog ### Subscribe to Email Updates ### contact SOLIDitech Block B, Aintree Park Cnr Doncaster and Loch Road Kenilworth, 7708 +27 86 137 0200 [sales@soliditech.com](mailto:sales@soliditech.com) ### Software ### Recent Posts ### connect with us [**](https://www.facebook.com/soliditech) [**](https://twitter.com/soliditech) [**](http://google.com/+Soliditech-business-automation) [**](http://www.linkedin.com/company/soliditech-pty-ltd) © Copyright 2021 | All Rights Reserved | SOLIDitech (Pty) Ltd ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Annette Gardner", "url" : "https://blog.soliditech.com/blog/author/annette-gardner" }, "dateModified" : "2021-05-19T07:24:41.556Z", "datePublished" : "2017-01-12T06:30:00.000Z", "headline" : "What is Debt Collection Software?", "image" : [ "https://blog.soliditech.com/hubfs/what-is-debt-collection-software-main-image---UPDATED.png" ], "mainEntityOfPage" : { "@id" : "https://blog.soliditech.com/blog/what-is-debt-collection-software", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.soliditech.com/hubfs/MASTER_RGB.png" }, "name" : "SOLIDitech" } } ```