You need to keep up with data security rules

As data privacy rules get more complicated, it's really hard to keep older computer systems compliant. With these old systems, you're responsible for everything related to data security. That means you have to make sure your computer's software is current, your local data is safe, and no one unauthorised can get to it.

It's even harder because it's tough to stay on top of all the new rules. But companies like Flexys are experts in this area. They make sure your data is safe and follows the latest rules. This is a big benefit of newer cloud systems: the provider, not you, takes on the risk and responsibility for data security.

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Let your supplier deal with security patches

With on-premise systems, you're stuck managing security updates yourself. Even if you have a support contract, you still need to plan the updates, test everything, and deal with the inevitable disruption.

The real problem? There's always a gap between when a security patch comes out and when you actually get it installed. During that window, hackers can exploit the vulnerability and access your sensitive customer data.

Cloud-native providers like Flexys handle all the security updates behind the scenes. Security experts apply patches immediately without you having to plan projects, test systems, or worry about downtime. Your data stays protected, and you can focus on running your business.

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Paying through the nose for support

Many older collection systems are rarely or never updated. They often use old operating systems, web browsers, and software, which makes them harder and harder to support.

As these systems get older, it's tough to find people within your company who know how to manage them. This often means you have to pay a lot for outside help from consultants. It's also really important to understand the security risks: older systems are easier for hackers to attack and are difficult to keep secure.

However, modern cloud software solves these problems. It's always up-to-date with the latest technology, so you don't need local support. This makes things more secure and saves you money because you don't have to pay for expensive, ongoing support for old systems.

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Making the right choice for your collections software

When your current collections system is getting old, you essentially have three choices:

Keep using old, unsupported software. This is risky. You're more likely to face cyberattacks and fail to meet important data rules.

Pay a lot to upgrade your old software. While this might seem like a quick fix, it's a bad investment. It doesn't solve the main problem and leaves your organisation exposed in the long run.

Switch to a modern cloud-native collections system. This is the best option for the future. Cloud software performs better, saves you money, and offers much stronger security. By moving to the cloud, you can protect your organisation from the security risks of older systems and new threats that come up.

To sum up, the security problems with old debt collection systems are serious. Switching to modern, cloud software isn't just about getting better technology. It's essential for protecting your organisation's money and good name.‍

Don't wait until a breach forces your hand – act now to protect your data, comply with regulations, and streamline your collections process. Speak to our team about safely migrating to the latest collections software in a way that suits your organisation.