Breaking the cycle: replacing legacy debt management software | Flexys


Breaking the cycle: replacing legacy debt management software

by Flexys Marketing Team

Replacing legacy collections software with minimum risk and maximum benefits

For decades, collections software has been delivered as a monumental project. The often years-long process of sending out RFIs and RFPs, undertaking scoping exercises, budget and contract negotiations and finally the large-scale integration and delivery that takes over operational and IT resources and stagnates your existing system. This state of affairs has led to many existing systems staying in place for longer than they should have done, for fear of the momentous changes and excessive cost of major upheaval. Familiarity is stifling evolution.

Most legacy collections systems are built, piece by piece, over many years; a billing platform becomes a basic collections tool with new releases layered upon older, outdated technology. This leads to a tangle of code known in software circles as ‘technical debt’. Dealing with this usually falls to your next software supplier who will do everything they can to integrate their own software in the easiest way possible, often adding to the tangle rather than improving

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