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Debt Collection Software Market 2021 Disclosing Latest Advancement – Fidelity National Information Services, Inc. (FIS), CGI Inc., Fair, Isaac and Company (FICO), TransUnion

The Market Insights Reports has added a new statistical data to its repository titled as, Global Debt Collection Software Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.

The market for debt collection software is set to grow at a CAGR of 9.7% during the forecast period (2020 – 2025).

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Top Key Players in the Global Debt Collection Software Market are Fidelity National Information Services, Inc. (FIS), CGI Inc., Fair, Isaac and Company (FICO), TransUnion, Pegasystems Inc., Temenos AG, Intellect Design Arena, Nucleus Software Exports Ltd., Chetu, AMEYO, EXUS, KuhleKT, and others.  

Industry News and Update:

– In May 2020, Chetu, a leading developer of custom software solutions, was today named the winner of a Silver Stevie Award in the Founding Team of the Year category for the 18th Annual American Business Awards. More than 3,600 nominations from organizations of all sizes and various industries were submitted for consideration in a wide range of categories.

– In April 2020, Financial technology leader FIS announced that FIS Ventures, the newly created corporate venture investment division of FIS, has launched an effort to invest a target of $150 million in promising fintech startups over the next three years with a focus on emerging technologies such as artificial intelligence and machine learning, digital enablement and automation, data and analytics, security and privacy, distributed ledger technology, and financial inclusion.

Key Market Trends:

Increasing Automation in the Debt Collection Process to Drive the Growth

– Debt collection software offers various features like customer segmentation based on collection scenarios, automated customer reminders, email & letters, streamlined communication with clients, suitable payment plans, transaction management, commission management, compliance management, invoice management, payment, and others resulting in reduced human intervention and automation of redundant tasks. This has led to higher efficiency operations and a lowering of the excessive cost incurred due to these processes, thus increasing the market growth of debt collection software in the market.

– Cloud computing technology is becoming mainstream, and the seamless connectivity provided by the cloud is making it accessible and is also increasing the ease of sharing data and applications. According to the Right Scale’s annual State of the Cloud Report 2019, 91% of businesses use public cloud, and 72% use a private one. Most enterprises use both options, with 69% of them opting for the hybrid cloud solution. Hence, the advent of cloud technology is also boosting the growth of the market.

– Though government regulations regarding data security are becoming stringent, Government policies and increasing investments in BI analytics tools are developing the market for spend analytics worldwide. Many global companies are collaborating with national governments to enhance spending and procurement processes with the use of spend analytics tools to deliver a practical solution in society.

– Legal notices no longer pose a threat to debtors, and growing rules & regulations have made the collection process even more complicated. Hence, many telecom and utility companies are using debt collecting software, taking the benefit of significantly increased online transactions. Companies have introduced a self-service payment platform to keep track of their customers, follow up on the bill payment, and help them maintain their credibility.

Full Browse the report description and TOC:

https://www.marketinsightsreports.com/reports/10192358063/debt-collection-software-market-growth-trends-and-forecastsv-2020-2025?Mode=28      

Highlights of TOC:

Market Overview: It starts with product overview and scope of the Global Debt Collection Software market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Debt Collection Software market size analysis for the review period 2015-2025.

Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Debt Collection Software market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.

Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.

Market Dynamics: Readers are provided with a comprehensive analysis of Debt Collection Software market challenges, influence factors, drivers, opportunities, and trends.

Market Forecast: Here, the Debt Collection Software report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.                                    

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Note: All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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