MARKET OVERVIEW
A debt collection software automates the debt collection process and provides real-time information of debtor portfolios to collectors. This software offers features such as customer segmentation based on collection scenarios, automation of customer reminders, email & notifications, streamlining communication with clients, suitable payment plans, transaction management, commission management, compliance management, invoice management, and payment management.
MARKET SCOPE
The "Global Debt Collection Software Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the debt collection software market with detailed market segmentation by offering, deployment type, industry and geography. The report provides key statistics on the market status of the leading debt collection software market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on offering, the global debt collection software market is segmented into software, service
- On the basis of deployment type, the market is segmented into on-premise, cloud
- Based on industry, the market is bifurcated into BFSI, manufacturing, retail, IT and telecom, others
MARKET DYNAMICS
Drivers:
- The debt collection software enables banks to achieve automation in the collections processes, which is expected to drive the adoption of the software among banks
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The debt collection software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the debt collection software market in these regions.
IMPACT OF COVID-19 ON DEBT COLLECTION SOFTWARE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the debt collection software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from debt collection software market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the debt collection software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Chetu Inc.
- CGI Inc.
- Coface
- EXPERIAN INFORMATION SOLUTIONS, INC.
- EXUS
- FICO (FAIR ISAAC CORPORATION)
- Fidelity National Information Services, Inc. (FIS)
- Pegasystems, Inc.
- Sopra Banking Software
- TEMENOS HEADQUARTERS SA
The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
