Accessibility Statement Skip Navigation
  • Resources
  • Investor Relations
  • Journalists
  • Agencies
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • Arabic
      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Explore Our Platform
  • Plan Campaigns
  • Create with AI
  • Distribute Press Releases
  • Amplify Content
  • All Products
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Hamburger menu
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • Explore Our Platform
  • Plan Campaigns
  • Create with AI
  • Distribute Press Releases
  • Amplify Content
  • All Products
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS

Debt Collection Software Market to Grow by USD 2.31 Billion (2024-2028), Driven by Rising NPLs and AI-Powered Market Evolution - Technavio

Global Debt Collection Software Market 2024-2028

News provided by

Technavio

Dec 11, 2024, 17:14 ET

Share this article

Share toX

Share this article

Share toX

NEW YORK, Dec. 11, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global debt collection software market  size is estimated to grow by USD 2.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.92%  during the forecast period. Rise in non-performing loans (npls) is driving market growth, with a trend towards integration of advanced technologies in debt collection software. However, high cost of debt collection software  poses a challenge. Key market players include AgreeYa Solutions Inc., Analog Legalhub Technology Solutions Pvt. Ltd., CDS Software, Chetu Inc., Comtech Systems Inc., Comtronic Systems LLC, DAKCS Software Systems Inc., Debt Pay Inc., DebtCol Software Pty. Ltd., Debtrak, Experian Plc, ezyCollect Pty. Ltd., Fair Isaac Corp., Fidelity National Information Services Inc., Gaviti Akyl Ltd., Indigo Cloud Ltd., MarketXpander Services Pvt. Ltd., Nestack Technologies Pvt. Ltd., PDCflow, PrimeSoft Solutions Inc., Quantrax Corp. Inc., Radixweb, receeve GmbH, Sila Inc., Totality Software Inc., A4dable Software, Ameyo Pvt Ltd., DBA PaySimple Inc., Simplicity Collection Software, Constellation Software Inc.; CGI Group Inc.; TransUnion; Nucleus Software Exports Ltd.; Pegasystems Inc.; Temenos Group AG; PAIR Finance; Credgenics

Continue Reading
Technavio has announced its latest market research report titled Global Debt Collection Software Market 2024-2028
Technavio has announced its latest market research report titled Global Debt Collection Software Market 2024-2028

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 - 2022

Segment Covered

Deployment (On-premises and Cloud-based), Industry Application (Small and medium enterprises and Large enterprises), and Geography (North America, Europe, APAC, South America, and Middle East and Africa), Component, enterprise size, end-user

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

AgreeYa Solutions Inc., Analog Legalhub Technology Solutions Pvt. Ltd., CDS Software, Chetu Inc., Comtech Systems Inc., Comtronic Systems LLC, DAKCS Software Systems Inc., Debt Pay Inc., DebtCol Software Pty. Ltd., Debtrak, Experian Plc, ezyCollect Pty. Ltd., Fair Isaac Corp., Fidelity National Information Services Inc., Gaviti Akyl Ltd., Indigo Cloud Ltd., MarketXpander Services Pvt. Ltd., Nestack Technologies Pvt. Ltd., PDCflow, PrimeSoft Solutions Inc., Quantrax Corp. Inc., Radixweb, receeve GmbH, Sila Inc., Totality Software Inc., A4dable Software, Ameyo Pvt Ltd., DBA PaySimple Inc.,  Simplicity Collection Software, Constellation Software Inc.; CGI Group Inc.; TransUnion; Nucleus Software Exports Ltd.; Pegasystems Inc.; Temenos Group AG; PAIR Finance; Credgenics

Key Market Trends Fueling Growth

The Debt Collection Software market is witnessing significant trends, including automation, multichannel communication, and affordability for organizations of all sizes. Large enterprises segment seeks economies of scale through deployment of advanced debt collection solutions. Services and solutions segments dominate, offering debt collection services and modern applications for effective loan recovery. Implementation of debt collection software involves business-specific needs, training, and implementation work. Legacy systems are being replaced with modern applications for productivity and effective debt recovery. Borrower data, overdue invoice reminders, phone calls, and online payment collection are essential components of the debt collection ecosystem. Banks and financial organizations prioritize debt collection journeys and money collection process, addressing complexities through automation, notifications, alerts, and compliance with consumer protection laws and debt collection regulations. Costs, bankruptcy status, and litigious consumers pose challenges. InterProse Corporation's InterProse ACE offers debt collection software for government organizations, with components including text messaging, voice mail drops, dialers, and compliance with debt collection regulations. Deployment options include on-premises and cloud-based, catering to enterprise size. 

The debt collection software market is undergoing a transformation through the integration of advanced technologies such as artificial intelligence (AI), machine learning (ML), and data analytics. These technologies are streamlining debt collection processes by enhancing decision-making capabilities, automating repetitive tasks, and improving overall efficiency. AI specifically, is revolutionizing the financial industry by enabling automated decision-making processes, predictive analytics, and personalized customer interactions. For instance, AI algorithms analyze historical debtor data to forecast payment behaviors and suggest tailored collection strategies, resulting in more effective interventions. This technological integration is a game-changer for the debt collection industry. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

•         The Debt Collection Software market faces challenges in automating debt collection processes for organizations, particularly in the large enterprises segment. Affordability and economies of scale are key considerations, as debt collection software solutions must effectively meet business-specific needs without straining budgets. Automation of loan recovery processes, online payment collection, and multichannel communication are essential for productivity and effective debt recovery. Services and solutions segments offer debt collection services and deployment of software for organizations. Debt collection journeys include overdue invoice reminders, phone calls, text messaging, voice mail drops, and dialers. Borrower data, debt collection regulations, bankruptcy status, and litigious consumers add complexities to the debt collection ecosystem. InterProse Corporation's InterProse ACE software addresses these challenges with automatic monitoring, notifications, and alerts. Deployment options include on-premises and cloud-based solutions, catering to various enterprise sizes. Training and implementation work are crucial for successful deployment and integration with core business systems, such as legacy systems and modern applications. Consumer protection laws and debt collection regulations must be adhered to, ensuring compliance and effective debt collection. Costs, productivity, and effective debt recovery are the primary objectives for financial and banking organizations. The debt collection software market continues to evolve, providing innovative solutions to streamline the money collection process.

•         The debt collection software market is facing a significant challenge due to the high cost of the software. This issue poses a barrier for smaller debt collection agencies and businesses with limited financial resources, potentially reducing competition and increasing prices for consumers. The average cost of the software ranges from USD480 to USD1200 yearly per user, with enterprise solutions costing more based on specific requirements. This high expense can hinder market growth and limit access to effective debt collection solutions for many organizations.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This debt collection software market report extensively covers market segmentation by

  1. Deployment 
    • 1.1 On-premises
    • 1.2 Cloud-based
  2. Industry Application
    • 2.1 Small and medium enterprises
    • 2.2 Large enterprises
  3. Geography 
    • 3.1 North America
    • 3.2 Europe
    • 3.3 APAC
    • 3.4 South America
    • 3.5 Middle East and Africa
  4. Component
  5. Enterprise size
  6. End-user

1.1 On-premises-  On-premises debt collection software solutions hold a substantial position in the global debt collection software market, addressing the demands of businesses that value internal infrastructure management, data security, and customizability. These software solutions are installed and operated within an organization's premises, granting users a significant degree of autonomy over their debt collection operations. Large enterprises, particularly those in regulated industries like finance and healthcare, prefer on-premises debt collection software to safeguard sensitive debtor information and adhere to stringent data privacy regulations. Companies such as DAKCS Software Systems Inc. (DAKCS) provide tailored on-premises debt collection solutions, catering to the unique security and regulatory needs of large enterprises. This level of customization is particularly appealing to complex debt collection operations within large enterprises. On-premises debt collection software enables organizations to maintain full control over their data and operations, which is essential for large enterprises adhering to strict IT policies and security protocols. Providers like CDS Software offer extensive on-premises debt collection software, empowering large enterprises to manage their debt collection processes while ensuring data security and integrity. The need for direct control over data and operations, combined with the ability to customize software to align with specific business processes, is expected to fuel the growth of the on-premises segment in the global debt collection software market.

Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) 

Research Analysis

The Debt Collection Software market is witnessing significant growth due to the automation of debt collection processes, providing large enterprises with economies of scale and affordability. This market caters to both services and solutions segments, offering debt collection services and software solutions to organizations. The deployment of debt collection software streamlines the loan recovery process, enabling effective communication through multichannel methods. Borrower data management is crucial, and these systems provide features like overdue invoice reminders, phone calls, and online payment collection. Banking and financial organizations benefit greatly from these solutions, increasing productivity and improving the effectiveness of debt recovery. However, implementing debt collection software comes with complexities, including business-specific needs, training, and implementation work. Legacy systems and modern applications must be considered during strategy development. The debt collection ecosystem requires a well-thought-out plan for successful implementation.

Market Research Overview

The Debt Collection Software market is witnessing significant growth due to the automation of debt collection processes, which helps organizations streamline their loan recovery process and improve productivity. The large enterprises segment is a major contributor to the market's growth, as they can leverage economies of scale and affordability. The market offers both solutions and services segments, with debt collection services being a popular choice for organizations seeking expert assistance in managing their debt collection journeys. The deployment of debt collection software involves careful strategy and implementation, taking into account business-specific needs and the complexities of the debt collection ecosystem. Modern applications replace legacy systems, offering online payment collection, overdue invoice reminders, and multichannel communication options like phone calls, text messaging, voice mail drops, and dialers. Implementation work includes training and adherence to debt collection regulations, consumer protection laws, bankruptcy status, and litigious consumers. The market caters to banking organizations, financial institutions, government organizations, and other entities, providing effective debt recovery and cost savings through automatic monitoring, notifications, and alerts.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

  • Deployment
    • On-premises
    • Cloud-based
  • Industry Application
    • Small And Medium Enterprises
    • Large Enterprises
  • Geography
    • North America
    • Europe
    • APAC
    • South America
    • Middle East And Africa
  • Component
  • Enterprise size
  • End-user

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED

Modal title

Also from this source

Fast Casual Restaurants Market to Grow by USD 302.5 Billion from 2024-2028, Driven by Demand for Food Menu Innovation & Customization, Report on How AI is Driving Market Transformation - Technavio

Fast Casual Restaurants Market to Grow by USD 302.5 Billion from 2024-2028, Driven by Demand for Food Menu Innovation & Customization, Report on How AI is Driving Market Transformation - Technavio

Report with the AI impact on market trends - The global fast casual restaurants market size is estimated to grow by USD 302.5 billion from 2024-2028, ...

Fast Fashion Market to Grow by USD 79.2 Billion from 2025-2029, Driven by Burgeoning Youth Populations' Demand for Fast Fashion Clothing, Report on AI-Powered Market Evolution - Technavio

Fast Fashion Market to Grow by USD 79.2 Billion from 2025-2029, Driven by Burgeoning Youth Populations' Demand for Fast Fashion Clothing, Report on AI-Powered Market Evolution - Technavio

Report on how AI is driving market transformation - The global fast fashion market size is estimated to grow by USD 79.2 billion from 2025-2029,...

More Releases From This Source

Explore

Computer & Electronics

Computer & Electronics

Computer Software

Computer Software

Computer Software

Computer Software

Banking & Financial Services

Banking & Financial Services

News Releases in Similar Topics

Contact PR Newswire

  • Call PR Newswire at 888-776-0942
    from 8 AM - 9 PM ET
  • Chat with an Expert
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Italy
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom
  • Vietnam

My Services

  • All New Releases
  • Platform Login
  • ProfNet
  • Data Privacy

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Platform Login
  • ProfNet
Call PR Newswire at
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookies
Copyright © 2025 Cision US Inc.