This is the last in my list of 10 things most vendors won’t tell you that are absolutely critical to selecting the right collections system.
Don’t forget about an escrow account.
Source code for the system must be held in escrow, protecting you against unforeseen issues, such as the code owner ceasing business operations or other extreme circumstances.
That’s it, folks. Of course, there are lots of other things you need to consider, but these are the ones many businesses forget.
Take a look at the first nine entries:
Buying a Collections System - What Vendors Won’t Tell You #9: How will you provide an exit/roll-back strategy for our legacy system?
Buying a Collections System - What Vendors Won’t Tell You #8: Document the manual AND automated processes your SMEs perform.
Buying a Collections System - What Vendors Won’t Tell You #6: How do data extracts work — and how much will they cost?
What have you seen that you want to share? Post a comment below.
Want more ideas on what’s important? Contact me - martingermanis@fico.com.
