As a debt collection attorney, one has a million plates spinning at the same time. Dealing with clients, running to court, hiring collectors, the list goes on and on which is why it’s crucial to be organized and to put systems in place to not just stay above water, but to thrive. Here are the 3 main reasons every debt collection attorney should have a software system:
Cloud-bаѕеd technology is the future. With a web-based system, your practice can capture data іn rеаl tіmе with grеаtеr ассurасу, to be able to share information with your team regardless of where they are in the world or if your employees are simply remote. Paper-based ѕуѕtеmѕ are antiquated. There’s no аbіlіtу tо ассеѕѕ data on demand, no аbіlіtу to perform “what if” analysis, and maybe wоrѕt оf all, a ѕtruсturеd-іn “lіmіt” оr lоwеr еxресtаtіоn оf what is роѕѕіblе. Being 100% cloud-based means that you and your clients have complete transparency to see what is going on with their claims.
Submit and Manage Claims Online
Allowing your creditors to submit and manage the debt claims online is a huge time saver. No more back and forth phone calls, lengthy email threads, or heaven forbid paper stacks to parse through. Using a web-service to host everything you and your customers need in one spot just makes sense. Most software programs will have tiered admin settings that allow you to restrict access to certain portions of your data, for example a collector will have a separate login from a creditor.
With having all of your information securely hosted in the cloud, generating reports to ensure your on path to meet your business goals will be simple. Gone are the days of relying on paper spreadsheets and headaches. Most debt collection software today will have a host of reporting options so you’ll always know where your collections stand.
In summary the debt collection industry is evolving at an alarming rate, and it has become apparent that the old ways of doing business are no longer sustainable. With the rise in digital technologies, it is now possible to automate many of the processes involved in debt collection.
Software for this industry has been around for a while now, but with so many options on the market, it can be difficult to know which one will best suit your needs. We use CasetrackerLaw.com because of its affordability, ease of implementation, and customer support.