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Choosing a collections system: 5 steps to get you started

Selecting a new collections and recoveries system is a significant step for any organisation. The right platform can support better customer outcomes, improved operational efficiency, and long-term strategic flexibility. But navigating the selection process (especially the early stages) can be challenging.

Drawing on Arum Global’s 25+ years of experience from hundreds of system reviews, selections and implementations, we’ve put together some practical considerations to help you get started with confidence.

Once you’re ready to get going, you can then explore debt collection software vendors here on the Marketplace. 

1. Define requirements early and thoroughly

A clear understanding of business and technical requirements is essential. This means going beyond a high-level wish list to capture detailed operational needs, integration points, and compliance considerations.

Many organisations benefit from using structured templates or requirements libraries at this stage. These resources can help ensure consistency, avoid common gaps, and provide a strong foundation for engaging with the market. 

2. Organise requirements into core selection themes

To bring structure to the evaluation process, requirements can be grouped under three core pillars:

1. Solution capability – Functional and technical fit
2. Commercials – Total cost of ownership and flexibility of pricing models
3. Implementation & track record – Vendor experience, delivery approach, and references

This framework supports both internal alignment and more objective comparisons when reviewing potential options.

3. Navigate the market with focus

The collections technology landscape continues to evolve, with a growing number of platforms offering overlapping in functionality but differing in architecture, delivery models, and specialism.

It can be overwhelming. And this is precisely why we developed Marketplace by Arum – to make it easy for buyers to discover and shortlist the best technology and service providers in the credit and recoveries industry.   

4. Build a shortlist that reflects more than functionality

Shortlisting is not just about features. It’s about identifying which platforms are the best fit for your organisation’s operating model, priorities, and future plans.

Consider factors such as:
• Alignment with your existing architecture and tooling
• Flexibility to adapt to changing requirements
• Delivery experience in your sector or regulatory context
• Roadmap transparency and innovation approach
• Feedback from other users and implementation teams 

5. Know when to draw on independent expertise

Some organisations manage the entire process internally. Others choose to bring in external support at specific points, such as validating requirements, understanding vendor trade-offs, or challenging internal assumptions.

Bringing in an external third-party can help reduce risk, speed up progress, and ensure a more robust final decision, as they can offer practical guidance and industry insights from other system selections and implementations. 

Final thoughts

There’s no one-size-fits-all approach to choosing a collections system. But with a structured process, cross-functional input, and access to the right tools and insight, organisations can make well-informed decisions that set them up for long-term success.

Resources such as Marketplace by Arum are designed to support this early-stage thinking, bringing together practical experience, curated content, and independent perspectives to help organisations move forward with confidence. 

Explore debt collection software vendors Contact us

Matt Riddall, Senior Director, Arum Global

Matt has been with Arum Global since 2008, starting as a consultant and advancing to Senior Director in 2024. With over 16 years of experience in collections and recoveries technology and operations, Matt brings a wealth of expertise in leveraging data, technology, decision-making, communications, and AI, to drive clients' success. As a leader at Arum Global, he is committed to delivering exceptional consulting and services to clients, ensuring excellence across all areas of the business.

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