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The latest trend gaining momentum in the debt collection software market is” Rise in demand for integrated debt collection software solutions. End-users prefer vendors that provide integrated software suites over different software as it may lead to integration issues. Integrated products and software suites from the same vendor integrate with each other seamlessly and support other functions or processes.Complete report on Debt Collection Software Market spread across 77 pages, 5 major companies and providing 22 data exhibits are now available at http://www.reportsnreports.com/reports/1174843-global-debt-collection-software-market-2017-2021.html .
The analysts forecast global debt collection software market to grow at a CAGR of 5.85% during the period 2017-2021. Key players in the global debt collection software market are Chetu, Debtor Software Solutions, Experian Information Solutions, Fair Isaac, and Totality Software. Other Prominent Vendors in the market are: Advantage Software Factory, A4dable Software, Collect Plus, Comtronic Systems, Cyber Collect 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.
This report covers the present scenario and the growth prospects of the global debt collection software market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of debt collection software license, maintenance and support, installation, customization, and training. As the increased complexity of network infrastructure has made integration an important buying criterion, solutions with better integration are being adopted more rapidly.
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According to the debt collection software market report one of the major drivers for this market is Vendors' pricing strategies. To be competitive in the market, vendors are adopting customer-centric pricing that entails advanced technology. To take advantage of this pricing model, most of the vendors in the debt collection software market are focused on providing value-based pricing propositions. The pricing of software is based on differentiating features of the software solution and also the value-added features provided to customers.
The report states that one of the major factors hindering the growth of this market is High implementation and maintenance cost. The high cost of deploying on-premises debt collection software is one of the major challenges in the market for small law firms, accounts receivable management companies, and debt purchasers. The total cost of ownership of the debt collection software includes the cost of software licensing, system design and customization, software licensing, training, maintenance, and implementation.
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