It can be overwhelming to be on the hunt for debt collection software that suits the needs of your business. In fact, a simple google search will bring up dozens of results. Each of these will claim that they are different and unique.
At the end of the day, you’re looking for software to manage and process your unpaid accounts. In this article, we will be doing a comparison between our IsoDebt software and Swordfish Debt collection software. Both of these systems have great benefits and would make the debt collections process in your business run a lot smoother.
Because we fundamentally believe that building trust is the highest currency for any business — we have no reservations about giving you a brief walkthrough of the main differences and distinguishing features between IsoDebt and Swordfish so you can make the best decision based on what you’re looking to achieve for your business.
Swordfish Debt Collection Software
This is a collections software that is designed for small to medium businesses as well as for the debt collection industry The software was developed by legal and debt collection professionals to offer an effortless and simple solution to debt collection.
Swordfish offers numerous services that can complement an existing debtors department. They provide the legal information regarding debt collection and the engine to collect debt on a large scale. Swordfish Essential will assist small business owners to keep on top of current debtors and is a cash flow management tool.
Their services include:
- Debt Collection Management Software, Procedures & Strategies
- Dialer and Systems Integration
- Debtor portals
- Tracing functionalities
- Performance and team management
- Detailed legal functionality
Swordfish is a great software for attorneys or debt collection agencies that want to better manage their workflows. Swordfish offers a cradle to grave debt collection system, that is a preferred solution in the debt collection industry.
Swordfish debt collection software offers 3 packages that range from R 599 per user to R699 per user with R 7000 set up fee and monthly R 2500 security and hosting fee.
So, who is Swordfish a good fit for?
If you are a large business, a debt collection agency or an attorney then Swordfish would be the software option for you. If you are looking to streamline your collections process, manage your calls and your staff this is definitely a great software option for you.
Kitrin IsoDebt is software that provides a consistent and proactive approach to managing unpaid accounts in a business or healthcare practice. IsoDebt is simple in itself allowing the business owner or their admin team to effectively manage the overdue accounts.
IsoDebt offers a proactive and consistent approach to the unpaid management function in your private practice. And cloud-based unpaid management software offers you the following key features and benefits which rival many of the features that similar debt collection software and practice management software offer.
- Low Monthly Costs
- Free Online Based Training
- Free Online Based Support
- Integrates with Existing Practice Management Software and Accounting Software
- Full Audit Trail Functionality
- Powerful Functionality with an Easy to Use Interface
- Having a Defined Process and Manage each Overdue Account Effectively
Kitrin IsoDebt is designed for a small to medium business or private healthcare practice. The reason behind this is there is an entire industry built around debt collection. This industry is aimed at debt collection agencies and not at business owners. Cashflow is king, if you run a successful follow-up campaign on your accounts, your bad debt book reduces. This reduces the number of accounts that need to be handed over to an attorney or debt collector.
Kitrin offers both annual and monthly payment options. This allows the customer to choose which would best suit their needs.
Annually the pricing is between R 2,400 and R 3,600 while monthly instalments are between R 200 and R 300.
The Kitrin team is a small team of 7 people including executive management.
So, who is Isodebt a good fit for?
IsoDebt is the software option for any small or medium business owner looking to manage their outstanding accounts. IsoDebt is also designed for healthcare practitioners in private practice who need to manage their outstanding accounts and unpaid medical aid claims.
Things to consider when choosing a debt collection software.
At the end of the day, both Excalibur and IsoDebt have their place in the market. The deciding factor comes down to what you are looking for.
If you’re looking for unpaid management software, debt collection software or simply a consistent process for your overdue account management, the IsoDebt would be the option for you. However, if you are a larger business or collections agency then Excalibur would be the option for you.
Of course, there are other debt collection software options out there, and you as the consumer need to do your research and see which offer makes the most sense for your business.