Intelligent collection software can reduce your cost of ownership and lower your reliance on your IT department
Why do most collection operations have an IT department and a software programming department? This is something I ask myself daily. I don’t buy any other business software that requires me to pay an IT department, so why does just about every collection software system available to the industry require this? Furthermore, when you look at the total cost of ownership of most collection software systems today, the initial purchase price becomes almost inconsequential to the ongoing support, training and internal IT staff required to keep it up and running and to customize the application to the constantly changing compliance environment we all operate in today.
I have dozens of software applications loaded onto my 15 inch MacBook Pro and very seldom do I require any IT support to use them. I have enterprise accounting software applications that can run a business the size of General Motors or Ford that do not require programming or ongoing IT support. I have very intricate gaming software that seems to run on its own every day. I have software to make professional quality videos, PowerPoint presentations, word documents, process maps, database applications, project plans, brochures and much more and I still do not need an IT department to support all of these software tools. So why is it that an investment in most any collection software platform also requires a full-time IT department?
Now I know your answer is going to be customization. But think about this for a minute. If the designers of these software systems know it is a requirement that the software be customized by the user, then why isn’t that capability designed into the software in the first place? Why are most of the collection law firms I know doing most of the portfolio work outside of their collection system in a SQL database? Why aren’t they able to perform these functions within the software itself, thereby reducing all of the effort and double entry? Why are most collection software systems so difficult and expensive to use? It’s because the designers are looking for a continuing revenue stream!
So this begs the obvious question; “Why doesn’t someone create a collection software system that is user-defined?” Well, they have and it’s called RMEX by Quantrax. The RMEx system is a user-defined collection software system that will allow you to create your own operational processes and business methodologies without the need for a software programmer to hard code the system. The RMEx system incorporates business intelligence that can automate many processes and virtually guarantee compliance with hundreds of regulations simultaneously.
If you are looking for an enterprise class, collection software system that doesn’t require an IT staff to maintain and support, then take a few minutes to learn more about the RMEx system at www.quantrax.com and then call me to discuss it further.
Lighthouse Consulting has been providing solutions to operational compliance challenges for ARM companies for over a decade. Contact Phillip Duff, CEO of Lighthouse Consulting today and let us help you navigate the compliance landscape.
Phillip Duff, CEO | www.LighthouseConsultingInc.com | Phil@LighthouseConsultingInc.com | (904) 687-1687