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Europe Debt Collection Software Market by Component (Software and Services) and Deployment Type (Cloud and On-premise) - Global Opportunity Analysis and Industry Forecast, 2018-2025

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IC_184738
Pages: 148
Jul 2018 | 1058 Views
 
Author's : Pankaj Lanjudkar & Vishwa Gaul
Tables: 70
Charts: 39
 

Europe Debt Collection Software Market Overview:

A debt collection software automates the debt collection process and provides real-time information of debtor portfolios to the collectors. This software offers features such as customer segmentation based on collection scenarios, automation of customer reminders, email & letters, streamlining communication with clients, suitable payment plans, transaction management, commission management, compliance management, invoice management, payment, and others. A debt collection software can be on-premises or on cloud, depending upon the convenience of organizations. The Europe debt collection software market size was valued at $ 794 million in 2016, and is projected to reach at $1,784 million by 2025, growing at a CAGR of 9.6% from 2018 to 2025.

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The services segment dominated the overall market in 2016, and is expected to continue this trend in the near future, owing to surge in demand for software-as-a-service model.

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The on-premise segment dominated the overall market in 2016. However, the cloud-based debt collection software is expected to grow at a highest CAGR during the forecast period, due to factors such as upsurge in adoption of data analytics tools, the prevalent use of mobile devices, and increase in maturity of cloud computing models, which are enabling major enhancements in these software.

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The UK dominated the overall market in 2016. However, the debt collection software market in the Netherland is expected to grow at a highest CAGR during the forecast period, owing to surge in demand for debt collection software in wholesale and retail industry, as they majorly face intentional late payment.

The report focuses on the growth prospects and restraints of the market based on the analysis of regional trends. The study provides Porter’s Five Forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market.

Segment Review

The Europe debt collection software market is segmented into component, deployment type, and country. Based on component, the market is bifurcated into software and services. On the basis of deployment type, it is categorized into on-premise and cloud. Country wise, it is analyzed across the UK, Italy, Spain, France, Germany, Netherland, Denmark, Sweden, Poland, Finland, Norway, Iceland, and rest of Europe.

The key players operating in the Europe debt collection software market include Concent AS, Codix S.A., Advantage Software Factory, EXUS, Altitude Software Solutions, QUALCO, Atradius Collections, Experian Information Solutions, Inc., Scorto, Inc., Aptic, Ferber-Software GmbH, Onguard, TIETO, and BS Software GmbH.

Top Impacting Factors

Need to control, manage, and automate all debt collection & recovery processes; need to reduce bad debt & rise in omni-channel collection efforts, and increase in demand for mobile applications act as the major drivers of the market. However, high implementation & integration cost and difficulty to track & reconcile accounts are expected to hamper the market growth during the forecast period.

Need to Control, Manage, and Automate All Debt Collection & Recovery Processes

Organizations collecting debt are under extreme pressure to cut costs while improving processes and increasing revenue. Automation of debt collection and recovery process improves productivity in collections by sequentially determining reasons and reduces time required to processes the cases. Furthermore, automation of debt collection process eliminates the need for spreadsheets and provides the tools necessary to focus on critical revenue-driving activities.

Need to Reduce Bad Debt & Improve the Cash Flow While Optimizing Collection Costs

Increase in need to save the time required for administrative duties, such as prioritizing daily activities or preparing for calls to focus on the value adding tasks, such as reducing bad debts, drives the Europe debt collection software market growth.

Increase in Demand for Mobile Applications

The ubiquity of mobile phones offers a major opportunity for more effective collection practices. Creditors realize the need of getting the customers’ attention through all the mediums, which will increase the likelihood of contact. Collector can use the app for debt prevention, debts, letters, and follow-up items, all as part of a comprehensive debt collection practice. This values fair debt collection practices when working with debtors to collect debt and receive payment. In addition, it has additional advantages such as hassle-free operations, reduction of paper work, and real-time access to data. Debt collection mobile applications are available for iPhone, iPad, Android, and Windows phones.

Key Benefits

  • This study includes the analytical depiction of the Europe debt collection software market along with current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities.
  • The current market is quantitatively analyzed from 2016 to 2023 to highlight the financial competency of the industry.
  • Porter’s Five Forces analysis illustrates the potency of buyers & suppliers in the Europe debt collection software industry.

Europe Debt Collection Software Market Key Segments:

By Component

  • Software
  • Services

By Deployment Type

  • On-premise
  • Cloud

By Country

  • UK
  • Italy
  • Spain
  • France
  • Germany
  • Netherland
  • Denmark
  • Sweden
  • Poland
  • Finland
  • Norway
  • Iceland
  • Rest of Europe

Key Market Players

  • Concent AS
  • Codix S.A.,
  • Advantage Software Factory
  • EXUS
  • Altitude Software Solutions
  • QUALCO
  • Atradius Collections
  • Experian Information Solutions, Inc.
  • Scorto, Inc.
  • Aptic
  • Ferber-Software GmbH
  • Onguard
  • TIETO
  • BS Software GmbH
 

Chapter: 1: INTRODUCTION

1.1. Report description
1.2. Key benefits for stakeholders
1.3. Research methodology

1.3.1. Secondary research
1.3.2. Primary research
1.3.3. Analyst tools & models

Chapter: 2: EXECUTIVE SUMMARY

2.1. CXO perspective

Chapter: 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings

3.2.1. Top impacting factors
3.2.2. Top investment pockets

3.3. Top winning strategies
3.4. Porter's five forces analysis
3.5. Market player positioning
3.6. Market dynamics

3.6.1. Drivers

3.6.1.1. Need to control, manage, and automate all debt collection & recovery processes
3.6.1.2. Need to reduce bad debt and improve the cash flow while optimizing collection costs
3.6.1.3. Rise in omni-channel collection efforts

3.6.2. Restraints

3.6.2.1. High implementation and integration cost
3.6.2.2. Difficulty to track and reconcile accounts

3.6.3. Opportunities

3.6.3.1. Increased demand for mobile applications
3.6.3.2. Introduction of analytics in debt collection
3.6.3.3. Usage of artificial intelligence to make debt collection smarter and easier

Chapter: 4: EUROPE DEBT COLLECTION SOFTWARE MARKET, BY COMPONENT

4.1. Overview
4.2. SOFTWARE

4.2.1. Overview
4.2.2. Key market trends, growth factors, and opportunities
4.2.3. Market size and forecast
4.2.4. Market analysis, by country

4.3. SERVICE

4.3.1. Overview
4.3.2. Key market trends, growth factors, and opportunities
4.3.3. Market size and forecast
4.3.4. Market analysis, by country

Chapter: 5: EUROPE DEBT COLLECTION SOFTWARE MARKET, BY DEPLOYMENT

5.1. Overview
5.2. CLOUD

5.2.1. Overview
5.2.2. Key market trends, growth factors, and opportunities
5.2.3. Market size and forecast
5.2.4. Market analysis, by country

5.3. ON-PREMISE

5.3.1. Overview
5.3.2. Key market trends, growth factors, and opportunities
5.3.3. Market size and forecast, by region
5.3.4. Market analysis, by country

Chapter: 6: EUROPE DEBT COLLECTION SOFTWARE MARKET, BY COUNTRY

6.1. OVERVIEW

6.1.1. Market size and forecast, by country
6.1.2. DENMARK

6.1.2.1. Key market trends, growth factors, and opportunities
6.1.2.2. Market size and forecast, by component
6.1.2.3. Market size and forecast, by deployment

6.1.3. FINLAND

6.1.3.1. Key market trends, growth factors, and opportunities
6.1.3.2. Market size and forecast, by component
6.1.3.3. Market size and forecast, by deployment

6.1.4. ICELAND

6.1.4.1. Key market trends, growth factors, and opportunities
6.1.4.2. Market size and forecast, by component
6.1.4.3. Market size and forecast, by deployment

6.1.5. NORWAY

6.1.5.1. Key market trends, growth factors, and opportunities
6.1.5.2. Market size and forecast, by component
6.1.5.3. Market size and forecast, by deployment

6.1.6. SWEDEN

6.1.6.1. Key market trends, growth factors, and opportunities
6.1.6.2. Market size and forecast, by component
6.1.6.3. Market size and forecast, by deployment

6.1.7. UK

6.1.7.1. Key market trends, growth factors, and opportunities
6.1.7.2. Market size and forecast, by component
6.1.7.3. Market size and forecast, by deployment

6.1.8. GERMANY

6.1.8.1. Key market trends, growth factors, and opportunities
6.1.8.2. Market size and forecast, by component
6.1.8.3. Market size and forecast, by deployment

6.1.9. FRANCE

6.1.9.1. Key market trends, growth factors, and opportunities
6.1.9.2. Market size and forecast, by component
6.1.9.3. Market size and forecast, by deployment

6.1.10. ITALY

6.1.10.1. Key market trends, growth factors, and opportunities
6.1.10.2. Market size and forecast, by component
6.1.10.3. Market size and forecast, by deployment

6.1.11. SPAIN

6.1.11.1. Key market trends, growth factors, and opportunities
6.1.11.2. Market size and forecast, by component
6.1.11.3. Market size and forecast, by deployment

6.1.12. POLAND

6.1.12.1. Key market trends, growth factors, and opportunities
6.1.12.2. Market size and forecast, by component
6.1.12.3. Market size and forecast, by deployment

6.1.13. The NETHERLAND

6.1.13.1. Key market trends, growth factors, and opportunities
6.1.13.2. Market size and forecast, by component
6.1.13.3. Market size and forecast, by deployment

6.1.14. REST OF EUROPE

6.1.14.1. Key market trends, growth factors, and opportunities
6.1.14.2. Market size and forecast, by component
6.1.14.3. Market size and forecast, by deployment

Chapter: 7: COMPANY PROFILES

7.1. Advantage Software Factory

7.1.1. Company overview
7.1.2. Company snapshot
7.1.3. Operating business segments
7.1.4. Product portfolio

7.2. Altitude Software

7.2.1. Company overview
7.2.2. Company snapshot
7.2.3. Operating business segments
7.2.4. Key strategic moves and developments

7.3. Aptic AB

7.3.1. Company overview
7.3.2. Company snapshot
7.3.3. Operating business segments
7.3.4. Product portfolio
7.3.5. Key strategic moves and developments

7.4. Atradius N.V.

7.4.1. Company overview
7.4.2. Company snapshot
7.4.3. Operating business segments
7.4.4. Product portfolio
7.4.5. Business performance
7.4.6. Key strategic moves and developments

7.5. BS Software GmbH

7.5.1. Company overview
7.5.2. Company snapshot
7.5.3. Product portfolio

7.6. Codix S.A.

7.6.1. Company overview
7.6.2. Company snapshot
7.6.3. Operating business segments
7.6.4. Product portfolio

7.7. Concent

7.7.1. Company overview
7.7.2. Company snapshot
7.7.3. Product portfolio

7.8. Experian Information Solutions, Inc.

7.8.1. Company overview
7.8.2. Company snapshot
7.8.3. Operating business segments
7.8.4. Product portfolio
7.8.5. Business performance
7.8.6. Key strategic moves and developments

7.9. EXUS

7.9.1. Company overview
7.9.2. Company snapshot
7.9.3. Operating business segments
7.9.4. Product portfolio

7.10. Ferber-Software GmbH

7.10.1. Company overview
7.10.2. Company snapshot
7.10.3. Product portfolio

7.11. Onguard

7.11.1. Company overview
7.11.2. Company snapshot
7.11.3. Operating business segments
7.11.4. Product portfolio
7.11.5. Key strategic moves and developments

7.12. QUALCO

7.12.1. Company overview
7.12.2. Company snapshot
7.12.3. Product portfolio
7.12.4. Key strategic moves and developments

7.13. Scorto, Inc.

7.13.1. Company overview
7.13.2. Company snapshot
7.13.3. Operating business segments
7.13.4. Product portfolio

7.14. Tieto Corporation

7.14.1. Company overview
7.14.2. Company snapshot
7.14.3. Operating business segments
7.14.4. Product portfolio
7.14.5. Business performance
7.14.6. Key strategic moves and developments

LIST OF TABLES

TABLE 01. EUROPE DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 02. EUROPE DEBT COLLECTION SOFTWARE MARKET REVENUE FOR SOFTWARE, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 03. EUROPE DEBT COLLECTION SOFTWARE MARKET REVENUE FOR SERVICE, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 04. EUROPE DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 05. EUROPE DEBT COLLECTION SOFTWARE MARKET REVENUE FOR CLOUD DEPLOYMENT, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 06. EUROPE DEBT COLLECTION SOFTWARE MARKET REVENUE FOR ON-PREMISE DEPLOYMENT, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 07. EUROPE DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COUNTRY, 2017-2025 ($MILLION)
TABLE 08. DENMARK DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 09. DENMARK DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 10. FINLAND DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 11. FINLAND DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 12. ICELAND DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 13. ICELAND DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 14. NORWAY DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 15. NORWAY DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 16. SWEDEN DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 17. SWEDEN DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 18. UK DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 19. UK DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 20. GERMANY DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 21. GERMANY DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 22. FRANCE DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 23. FRANCE DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 24. ITALY DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 25. ITALY DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 26. SPAIN DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 27. SPAIN DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 28. POLAND DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 29. POLAND DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 30. NETHERLAND DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 31. NETHERLAND DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 32. REST OF EUROPE DEBT COLLECTION SOFTWARE MARKET REVENUE, BY COMPONENT, 2017-2025 ($MILLION)
TABLE 33. REST OF EUROPE DEBT COLLECTION SOFTWARE MARKET REVENUE, BY DEPLOYMENT, 2017-2025 ($MILLION)
TABLE 34. ADVANTAGE SOFTWARE FACTORY: COMPANY SNAPSHOT
TABLE 35. ADVANTAGE SOFTWARE FACTORY: PRODUCT CATEGORIES
TABLE 36. ADVANTAGE SOFTWARE FACTORY: PRODUCT PORTFOLIO
TABLE 37. ALTITUDE SOFTWARE: COMPANY SNAPSHOT
TABLE 38. ALTITUDE SOFTWARE: PRODUCT CATEGORIES
TABLE 39. APTIC AB: COMPANY SNAPSHOT
TABLE 40. APTIC AB: PRODUCT CATEGORIES
TABLE 41. APTIC AB: PRODUCT PORTFOLIO
TABLE 42. ATRADIUS N.V.: COMPANY SNAPSHOT
TABLE 43. ATRADIUS N.V.: OPERATING SEGMENTS
TABLE 44. ATRADIUS N.V.: PRODUCT PORTFOLIO
TABLE 45. BS SOFTWARE GMBH: COMPANY SNAPSHOT
TABLE 46. BS SOFTWARE GMBH: PRODUCT PORTFOLIO
TABLE 47. CODIX S.A.: COMPANY SNAPSHOT
TABLE 48. CODIX S.A.: PRODUCT CATEGORIES
TABLE 49. CODIX S.A.: PRODUCT PORTFOLIO
TABLE 50. CONCENT: COMPANY SNAPSHOT
TABLE 51. CONCENT: PRODUCT PORTFOLIO
TABLE 52. EXPERIAN INFORMATION SOLUTIONS, INC.: COMPANY SNAPSHOT
TABLE 53. EXPERIAN INFORMATION SOLUTIONS, INC.: PRODUCT CATEGORIES
TABLE 54. EXPERIAN INFORMATION SOLUTIONS, INC.: PRODUCT PORTFOLIO
TABLE 55. EXUS: COMPANY SNAPSHOT
TABLE 56. EXUS: PRODUCT CATEGORIES
TABLE 57. EXUS: PRODUCT PORTFOLIO
TABLE 58. FERBER-SOFTWARE GMBH: COMPANY SNAPSHOT
TABLE 59. FERBER-SOFTWARE GMBH: PRODUCT PORTFOLIO
TABLE 60. ONGUARD: COMPANY SNAPSHOT
TABLE 61. ONGUARD: PRODUCT CATEGORIES
TABLE 62. ONGUARD: PRODUCT PORTFOLIO
TABLE 63. QUALCO: COMPANY SNAPSHOT
TABLE 64. QUALCO: PRODUCT PORTFOLIO
TABLE 65. SCORTO, INC.: COMPANY SNAPSHOT
TABLE 66. SCORTO, INC.: PRODUCT CATEGORIES
TABLE 67. SCORTO, INC.: PRODUCT PORTFOLIO
TABLE 68. TIETO CORPORATION: COMPANY SNAPSHOT
TABLE 69. TIETO CORPORATION: OPERATING SEGMENTS
TABLE 70. TIETO CORPORATION: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01. EUROPE DEBT COLLECTION SOFTWARE MARKET, 2017-2025
FIGURE 02. EUROPE DEBT COLLECTION SOFTWARE MARKET, BY COUNTRY, 2017-2025
FIGURE 03. EUROPE DEBT COLLECTION SOFTWARE MARKET: KEY PLAYERS
FIGURE 04. EUROPE DEBT COLLECTION SOFTWARE MARKET SEGMENTATION
FIGURE 05. TOP IMPACTING FACTORS
FIGURE 06. TOP INVESTMENT POCKETS
FIGURE 07. TOP WINNING STRATEGIES, BY YEAR, 2015-2018*
FIGURE 08. TOP WINNING STRATEGIES, BY DEVELOPMENT, 2015-2018*
FIGURE 09. TOP WINNING STRATEGIES, BY COMPANY, 2015-2018*
FIGURE 10. HIGH BARGAINING POWER OF BUYERS
FIGURE 11. MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 12. MODERATE TO HIGH THREAT OF NEW ENTRANTS
FIGURE 13. MODERATE THREAT OF SUBSTITUTES
FIGURE 14. MODERATE COMPETITIVE RIVALRY
FIGURE 15. MARKET PLAYER POSITIONING
FIGURE 16. DRIVERS, RESTRAINTS, AND OPPORTUNITIES
FIGURE 17. DENMARK DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 18. FINLAND DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 19. ICELAND DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 20. NORWAY DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 21. SWEDEN DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 22.
FIGURE 23. UK DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 24. GERMANY DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 25. FRANCE DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 26. ITALY DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 27. SPAIN DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 28. POLAND DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 29. NETHERLAND DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 30. REST OF EUROPE DEBT COLLECTION SOFTWARE MARKET, 2017-2025 ($MILLION)
FIGURE 31. ATRADIUS N.V.: REVENUE, 2015-2017 ($MILLION)
FIGURE 32. ATRADIUS N.V.: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 33. ATRADIUS N.V.: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 34. EXPERIAN INFORMATION SOLUTIONS, INC.: REVENUE, 2016-2018 ($MILLION)
FIGURE 35. EXPERIAN INFORMATION SOLUTIONS, INC.: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 36. EXPERIAN INFORMATION SOLUTIONS, INC.: REVENUE SHARE BY GEOGRAPHY, 2018 (%)
FIGURE 37. TIETO CORPORATION: REVENUE, 2015-2017 ($MILLION)
FIGURE 38. TIETO CORPORATION: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 39. TIETO CORPORATION: REVENUE SHARE BY GEOGRAPHY, 2017 (%)

 

Debt collection software helps end users to manage and streamline debt collection and recovery processes. The adoption of debt collection software is growing among the end users, as it increases the levels of automation, helps to overcome the limitations of the existing database systems, and meet the needs of an ever-changing debt collection industry. The advancement in collection processes; rise in need for real-time, responsive, commercial, automated debt collection process; and increase in need for satisfaction of customers without compromising on the recovery of debt supplement the Europe debt collection software market growth. Moreover, the debt collection software offers accounts receivable management, credit/risk management, customer relationship management, analytics, reporting, and workflow automation solutions with integrated payment processing, which drive its adoption, thereby boosting the market growth.

Integration of numerous technologies into debt collection software is expected to boost the growth of the market. For instance, emergence of predictive analytics, which helps segment customers into identical groups based on their attributes, and formulates customized debt management and advisory policies targeted to a particular customer segment. It clubs various techniques such as data mining, machine learning, artificial intelligence, and statistical modelling to improve debt collection process. For instance, WNS, a utility company, adopted predictive analytics to increase its debt collection by 50%. Furthermore, integration of artificial intelligence to make debt collection smarter and easier is anticipated to offer lucrative opportunities for the market expansion.

Some of the key players profiled in the report include Concent AS, Codix S.A., Advantage Software Factory, EXUS, Altitude Software Solutions, QUALCO, Atradius Collections, Experian Information Solutions, Inc., Scorto, Inc., Aptic, Ferber-Software GmbH, Onguard, TIETO, and BS Software GmbH. The Europe debt collection software market is highly fragmented due to the presence of several international, regional, and small vendors. The key players of the market have high market visibility, deep market penetration, and strong market momentum. To gain a competitive advantage in the market, debt recovery vendors are offering differentiated and stand-alone products. Moreover, the vendors are focusing on business expansion activities, as they aid to strengthen their market presence. For instance, in October 2017, Altitude Software opened a new center Phoenix and Arizona located in the U.S. to expand its presence in the North American market by offering various software solutions. In addition, in February 2018, Atradius Collections, a division of Atradius N.V., established partnership with local companies in Morocco and Casablanca to expand its business of debt collection services in Africa.

 

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