NEXUM Collections and Debt Management Software

This episode in the NEXUM Collections and Debt Management Software series explores how UK organisations can design a comprehensive requirements document for a new or replacement collections system. The discussion treats the requirements pack as a governance instrument—aligning cash flow, customer outcomes and regulatory compliance—rather than a simple feature checklist. Across three chapters, the hosts walk through: The role of a collections system in the UK order-to-cash lifecycle, and why a structured requirements document is central to governance, risk management and evidencing compliance to boards and regulators. How to define functional, data and integration requirements in depth, including segmentation and strategies, workflow and automation, contact channels, vulnerability and breathing space handling, disputes and complaints, and management information. The episode also covers the target data model, sector nuances, and how to specify integrations with finance systems, CRM, payment gateways, open banking providers and decisioning tools. How to embed UK regulatory obligations (FCA CONC, Consumer Duty, UK GDPR, ICO guidance, Breathing Space regulations and sector regulators such as OFGEM, OFWAT and OFCOM) directly into the specification, alongside non-functional requirements for security, resilience, configurability and MI governance. Finally, the hosts show how to turn the requirements pack into a practical vendor evaluation and implementation tool, with scoring, proof-of-concept scenarios, and clear expectations for data migration and change control. This episode is aimed at credit and collections leaders, finance and risk teams, and procurement professionals across UK private and public sectors who want to reduce implementation risk, strengthen compliance and secure a future-proof collections platform.