Can a Composable Approach to Debt Collection Technology Solve the Build v Buy Dilemma?
The question for organisations looking for a new debt collection system used to be black and white; buy or build? With today’s partnership approach and infinitely flexible technology platforms, there is a third option. We take a look at how it works and how it can address your key concerns.
It’s true that no one understands or cares about your business entirely as you do. Still, the backbone of debt management systems comprises many commonalities, such as digital self-service, workflow, decisioning, case management and reporting. It’s rare to have unique requirements that haven’t been built, tested and deployed many times over.
However, system development and delivery have radically changed, primarily due to the flexibility of cloud-native technology and the collaborative possibilities of open APIs.
Today, Collections leaders can select individual components from a library of pre-configured and pre-tested solutions that form the starting point for their own highly configured solution. This contrasts with the monolithic systems and all-or-nothing options of the past.
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