National Skip Tracing Month
Menu

What Are You Missing from Your Legal Collection Software?

  • Written by Joshua Fluegel

Today’s litigious consumers have increased the legal workload for accounts receivable professionals. With so many accounts requiring legal action, agencies and law firms must know exactly what they need out of their software in order to operate with it harmoniously. To help articulate such requirements, Collection Advisor has gathered the thoughts of vendors to help ensure wise decisions in legal collection software.

What is something collection/legal professionals should look for in legal collection software?

Chris J. Roberts President/COO of Sentinel Development Solutions

roberts chrisPeople should look for a collection platform that can be easily configured to automatically promote the flow of accounts through processes. As the legal profession continues to move toward automation of repetitive functions, much can be done to automatically execute tasks associated with collection related activities including things like filing, managing documentation requirements, and tracking judgments.

 

Chris Campbell CEO of Simplicity Collection Software

campbell chrisFlexibility and portability. Because laws, court documents, regulations and statut- es can vary from state to state and even from county to county within a state, it is important to have software that is flexible and configurable to meet a variety of different needs. Aside from selecting a flexible legal software solution, it is important to select a software vendor that understands the legal collection process and provides a software solution that is portable and accessible from virtually anywhere. This makes cases and case information easily accessible from a laptop, phone or iPad while you are in court or meeting with clients.

Ranjan Dharmaraja CEO of Quantrax Corporation

dharmaraja ranjanIs it modern? Does it address the problems or infrastructure changes that were not even on the landscape a decade ago - Security, compliance, the millennial paradox, mobile technology and the changing face of consumer contact? Has the collection platform moved away from “debt collection” to customer service and information management? After all, isn’t that what today’s collection industry is about?

 

Ashlee Hyden Director of Marketing at DAKCS Software Systems

hyden ashleeCollection professionals should look to find a software provider who focuses on the legal facets of the accounts receivable and collections process, including the ability to perform the following functions directly within the software:

1. Storage of necessary data needed to track legal processes in your business allows immediate access to integral data points enhancing workflow maintenance, streamlined tracking, and automation.

2. Ability to track important dates applied to each suit and court proceeding such as the date filed, date served, and judgment date provides proof and compliance for each step in the legal process.

3. Itemization, reconciliation, and billing capability for legal costs associated with each suit are core to maintaining an organized and efficient process for legal accounts.

4. Integrated legal appointments calendar in the system with reminders/ticklers provides a fluid active schedule for follow-up dates that improves staying on track and on time.

5. Enhanced flexibility on interest calculations to accommodate tracking pre and post judgment interest and applying appropriate fees associated with each suit.

6. Configurable integrated document design tool in the software to handle all court specific documents. This design tool offers the opportunity to custom design documents and letters needed for specific legal cases and to customize based on specific client requests. 7. Centralized document repository to store and easily retrieve important documents, including electronically filing court records, proceedings, evidence images for a more efficient response time. By having a legal collection software that provides the above functionality within the collection package, your business will have the ease of access and ability to track a suit and legal case from beginning to end by allowing users of the software to store and customize the data in one centralized location.

Kurt Baese President of JST

baese kurtWe always recommend to evaluate the compli - ance needs of your firm, and to make sure the software you utilize can manage these needs.

 

 

Chris Messer CEO of Hubbard Systems

messer chrisThere are five pillars to look for in a legal collection software package. These are adaptability, integration, accounting, analytics and company leadership. The collection industry is in constant fluctuation, and the agency/firm must be able to adapt to the changing needs of their clients and government regulations. The collection software must be able to change with industry requirements, and the changes have to be easy to integrate into the agency/firm’s processes without too much involvement from the software vendor. The collection software must also have a strong accounting package that is fully integrated into the software and not simply an after-thought or add-on. This pillar is often overlooked by professionals in this industry. But because of increasing fiduciary responsibilities for attorneys, one has to evaluate the accounting packages in the software. The fourth pillar for proper evaluation of collection software is the analytics package offered. Every software vendor has some reporting options, but those basic options just do not suffice in this industry anymore. The agencies/firms must be able to ad-hoc, schedule, or on-demand generate reports for clients and government entities. Due to the overwhelming reporting requirements from multiple channels agencies/ firms have to deal with, the analytics/reporting engine must be available and usable to more than just the agency/firm’s technical department. The fifth pillar, overlooked most often, is the leadership of the software vendor. The leadership of the software vendor is of vital importance. The agency/firm needs to feel like they have a partner that will work with them to get through the constant change of the industry. The agency/ firm must feel like they have a partnership with mutual respect and open lines of communication. If the leadership on both sides is not “all-in” together, the partnership will struggle and ultimately end in failure for both sides.

What is important to remember when integrating legal collection software into an agency/law firm?

Ashlee Hyden Director of Marketing at DAKCS Software Systems

Having built-in tools designed for the legal collection space is key to fluidity and business growth. These features include the ability to track and manage court dates and fees on every activity, flexible screen, report and document design to efficiently work accounts, as well as the automation to improve productivity, ensure compliance, and quality in your workflow.

Chris Messer CEO of Hubbard Systems

It is important for the agency/firm to work with the software vendor to have clear requirements of internal human resources needed, hardware and software required, and current workflow for a successful integration. If the agency/firm has any internal resources that are required but not available, they should reach out to the software vendor to arrange additional resources as needed to ensure a successful integration.

Kurt Baese President of JST

If you are in need of moving data from an existing platform to a new one, be sure to take the time to outline and specify a detailed conversion plan with your new provider. It also is a good time to reevaluate your internal procedures and workflows, and as a result set these up thoughtfully in your new system.

Ranjan Dharmaraja CEO of Quantrax Corporation

Technology will never solve problems. People must do that. Integrating new software into old processes will only do what you were doing yesterday, using a different product. Think Uber – is there a new and better way to manage a process that has not significantly changed for many years? Ask those questions and then, consider integrating new technology into your operation.

Chris J. Roberts President/COO of Sentinel Development Solutions

One of the most important things about integrating collection software into an agency or law firm is that the software vendor has experience building automatic, flexible interfaces that can be readily modified and supported over time and backed by a readily available support staff.

Chris Campbell CEO of Simplicity Collection Software

Develop your plan for success and then ensure that the software you select will help you achieve that plan in an efficient manner. Make sure you have a firm understanding of the software you will be using, its functions and features, and then rely on your software provider’s support staff to help you customize and automate critical strategic processes in order to reduce staff load and time making your business more efficient and profitable.