Here’s a great article from Ted London at FICO about what to look for in a collections platform. At Lawgix, we’re well ahead on all these points when considering how you might accelerate your legal strategy. I would highlight two items of particular note:
Automation: A core design tenent of Lawgix is automation. We leverage the most advanced workflow engine to drive efficiency, allow our customers to place and manage 4-5x more files without increasing their staff. That’s significant, and it is borne out by the experiences of our customers.
Open Architecture: As a long time B2B software professionals, we were (and still are) appalled by the closed, proprietary systems used today. In an environment of APIs and data sharing, to be locked into fixed-width data formats designed in the 1970s for use in the 1980s is ridiculous. At Lawgix, we recognize the data is yours. We can not and should not charge you to export, import, share, analyze, or otherwise gain competitive advantage from your data. We give you tight control over who can see what, but we never penalize our customers for using our system in conjunction with other systems.
It’s really great to see more focus on these critical elements across our industry. We’re confident we’ll continue to be out front of this wave.