The Pros and Cons of Debtor Tracking Apps — and Why Credit Control Outsourcing to Debtorly Still Adds Enormous Value

Keeping on top of unpaid invoices is crucial for maintaining a healthy cash flow, and debtor tracking apps like Chaser, KnowIt, Satago, Statey, Upflow, EzyCollect, and Kolleno have revolutionized how businesses manage this process. These apps offer automation, convenience, and insights that make managing receivables easier. But are they enough on their own?

Here’s a breakdown of the pros and cons of these tools—and why outsourcing credit control to a specialist company like Debtorly still makes sense.

Debtor Tracking Apps: Pros and Cons

1. Chaser

• Pros: Chaser stands out for its email automation and ability to create a polite, professional tone for payment reminders. It integrates seamlessly with accounting software like Xero and QuickBooks.

• Cons: While automation is great, it lacks the personal touch that can make the difference with tricky or high-value clients.

2. KnowIt

• Pros: KnowIt combines credit checking, invoicing, and debtor tracking in one platform, providing a holistic view of your receivables.

• Cons: The interface can feel overwhelming, especially for smaller teams that don't need all the bells and whistles.

3. Satago

• Pros: Satago offers powerful credit risk insights and invoice financing options, helping businesses with short-term cash flow gaps.

• Cons: Its focus on invoice financing might not suit businesses looking solely for debtor tracking.

4. Statey

• Pros: Statey is designed with simplicity in mind, offering clear dashboards and reminders that are easy to use.

• Cons: It lacks the advanced customization and reporting features of more robust tools.

5. Upflow

• Pros: Upflow provides detailed analytics and integrates with CRMs and accounting software for comprehensive cash flow management.

• Cons: It’s on the pricier side, making it less accessible for smaller businesses.

6. EzyCollect

• Pros: EzyCollect emphasizes workflow automation and features like invoice follow-ups and SMS reminders.

• Cons: The setup process can be time-consuming, and smaller businesses might find it overpowered.

7. Kolleno

• Pros: Kolleno leverages AI to prioritize and tailor follow-up actions, making it ideal for businesses with many clients.

• Cons: AI-driven actions might not always align with the nuances of client relationships.

Why Apps Alone May Not Be Enough In Managing Credit Control

While these tools can automate processes, they don’t address the human side of credit control. For example:

• Challenging Clients: Apps lack the negotiation skills needed for tricky clients or disputes. For example, would you let a 'bot' leave an automated voicemail to one of your most valuable clients? 

  
  

• Time Management: Managing and customizing these apps still requires effort from your team, especially when it comes to more complicated and nuanced setups where each client is unique and of high value. Out of the box customisation often doesn't hit the note. 
  

• Relationship Management: Maintaining positive client relationships often needs a more personalized touch than automated reminders can provide. Do the bots know about [Insert Name]'s birthday, or favourite football team who played at the weekend? Or the trip to Barbados to celebrate 'that' big milestone? a human behind the credit control outsourcing knows to ask these things!

Why Credit Control Outsourcing to Debtorly Complements These Tools

At Debtorly, we understand the limitations of debtor tracking apps and can work alongside these tools to deliver a comprehensive credit control solution.

• Human Expertise: Our team can handle complex situations, from negotiating payment plans to resolving disputes with professionalism.

  
  

• Time Savings: Outsourcing lets your team focus on what they do best while we manage your cash flow. We're also pros at managing all these apps, and optimising them. 
  

• Proactive Action: We don’t just track invoices; we ensure they’re paid on time by following up with tailored, relationship-focused communication.
  

• Full-Service Solution: By integrating our services with your existing tools, we provide the best of both worlds—automation and human expertise. For example, monthly sit downs and reviews of all the activity. 

Conclusion

Debtor tracking apps are valuable tools for managing cash flow, but they’re not a silver bullet. For businesses that want to ensure cash flow remains healthy without compromising client relationships, outsourcing to Debtorly is the perfect complement.

Take control of your finances with the combined power of technology and expert credit control. Visit debtorly.co.uk to find out how we can help your business grow.