What to Expect for 2011 in Accounts Receivable Software.

The debt collection industry has been through many litigation changes, technology changes, and economic changes in the past few years, and collection software has been changing along with it. So what can people expect from account receivable software programs vendors in 2011? While using the vast changes in collection technology which include predictive dialers, skip dating, and mail service automation, software vendors are going to be integrating all these new technologies to make seamless solutions. To attempt, vendors are partnering with third party service providers to integrate their solutions into selection software.

Another big change for Collection software comes in response to several recent state and federal prerequisites for handling sensitive financial data. These include that Payment Card Industry Info Security Standard (PCI DSS), your Gramm-Leach-Bliley Act (GLBA), the FTC’s Red flags Rule for identity theft, ISO 27002, HIPAA, and the Federal Information Security Supervision Act of 2002 (FISMA). A lot of these changes in data protection, reporting, and auditing add extra work on the industry players, but can be managed within accounts receivable software. For more information about this topic visit debt collection software.

New debt collection software also incorporates automated payment processes to accept credit cards, electronic checks, file transfers, and PayPal. Additionally, software vendors are now offering predictive and messaging solutions that automatically calls numbers based on agent availability and also route calls to your agent managing the bank account, and track the effectiveness of the calls. The software also provides mail service options that permit outsourced letter solutions.

A lot of account receivable debt selection software is client and server based with user interfaces that work within a simple point and press fashion. Collectors can learn the brand new software in a short time of time, which allows for new employees to be trained quickly and effectively.

When debt collectors were asked what they wish to see in new selection systems, they most often answered they will wanted flexible systems using easily customizable screens together with reports. Managers and owners wanted a summary area where they may see statistics and reports for a real time basis. They also needed to be able to store documents associated using individual accounts, masters and also clients.

The new accounts receivable software programs available next year truly automates collections so that debt collectors can do what they do best: collect money. The with mailing services, skip tracing, messaging, dialing campaigns, and ongoing tracking of charge plans, in many cases can be carried out without collector involvement. More details located at ach processing.