BEAM

RATING:

3.1

(7)
Overview

About BEAM

With comprehensive features that cover account data management and service provider placement, Beam's debt collection system allows debtors, debt buyers, and collection agencies to automate time-consuming administrative tasks, so receivables management firms can focus on managing account performance. As Microsoft Partners, Beam provides a secure debt collection platform that is hosted in the Azure cloud environment, with real-time support available, if needed. Beam's feature-rich debt collection system includes a drag and drop interface that allows institutions to automate complex workflows. This includes account placement, data scrub processes, and investor reporting. Beam also includes placement management, interest and fee scenario calculations, investor managem...

BEAM Pricing

Contact Beam Software for pricing details.

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BEAM Reviews

Overall Rating

3.1

Ratings Breakdown

Secondary Ratings

Ease-of-use

3

Customer Support

3

Value for money

2.5

Functionality

3

Most Helpful Reviews for BEAM

7 Reviews

Jacob

Financial Services, 2-10 employees

Used daily for less than 12 months

Review Source: Capterra

OVERALL RATING:

5

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

Reviewed April 2017

Great Product!!

This software has a ton of power behind it. It is very user friendly and intuitive by design. This system out of the box has solved the problems that we were having with other systems even after we customized them. I cant speak highly enough of this solution and the customer service they provide.

PROS

This platform provides ease of use and had the ability out of the box to meet our needs where other software could not do that even after we customized them. They have a great customer service and support team.

CONS

I have not found anything that I have not liked so far.

jeremy

2-10 employees

Used daily for less than 2 years

Review Source: Capterra

OVERALL RATING:

4

EASE OF USE

3

VALUE FOR MONEY

3

CUSTOMER SUPPORT

3

FUNCTIONALITY

3

Reviewed April 2017

beam review

There are things that need to be changed within the software. Some things really need a face lift to assist the debt buyer. I hope that beam will take these concerns serious and get to work on making the changes that are needed.

CONS

MASKING OPTIONS, EDITING OPTIONS, NOT BEING ABLE TO RESTRICT ACCOUNTS CORRECTLY. ALL CONS HAVE BEEN DISCUSSED WITH TOM AND HAVE NOT YET BEEN ADDRESSED.

Mela

Financial Services, 2-10 employees

Used daily for less than 6 months

Review Source
This review was submitted organically. No incentive was offered

OVERALL RATING:

1

EASE OF USE

1

VALUE FOR MONEY

1

CUSTOMER SUPPORT

1

FUNCTIONALITY

1

Reviewed January 2024

DO NOT USE THIS SOFTWARE! BEWARE! DO YOUR RESEARCH!

OVERALL EXPERIENCE was literally a NIGHTMARE from day one. Not only did it take 9 mos for them to complete a conversion , which should have only taken a few weeks MAX. Once we got over, we regretted it every SINGLE DAY after. From errors and bugs, to system features and functionality inaccuracies we couldn't keep up with our day to day tasks while bleeding money. EVERY DAY was some mistake or error that we had to work on with zero to little support/assistance. BEAM software platform is a joke. With many parts of it NOT EVEN BUILT OUT YET. When brought to their attention - There was no ETA on implementing any fixes. Even found errors MYSELF in their accounting system where money was owed to US and then advised it was a BUG! then the [sensitive content hidden] had the audacity to TELL US TO GET AN ACCOUNTANT?? Funny, We have never needed an accountant in 35 years and now all of a sudden because YOUR software cant perform SIMPLE Accounting tasks- WE NEED an accountant? The [sensitive content hidden] is NOT even willing to listen to any suggestions for updates/better performance with most of our questions not even being answered. Or even being able to BE ANSWERED, simple questions were DRAWN OUT to an email frenzy for days vs. just picking up the phone. Horrible communication. BEAM software doesn't even have a way to report your debtors to the credit bureau, which is like the main essential to run a business in collections. The 3rd party vendor they use TSB was also SHOCKED with the lack of knowledge [sensitive content hidden] had on reporting credit files. WE ARE NOT A SOFTWARE COMPANY we are business owners that trust the software company to complete tasks with compliance. With Latitude (our prev software) we literally clicked a BUTTON that sent all accounts to the credit bureaus. (which [sensitive content hidden] so arrogantly stated he didn't believe us ) We were even slapped with a lawsuit due to inaccuracies in reporting!!!! Also, been cut off by one of the major Credit bureau agencies due to having to retract a HUGE file. This company needs to be shown for what they really ARE. Definitely our fault for TRUSTING a company just because they were at a conference. THEY ARE NOT ANYTHUNG THEY CLAIM TO BE!

PROS

NOTHING! Misrepresentation/breach of contract.

CONS

EVERTHING! This company has literally the worst software platform I have ever seen in my 20 years in the industry. - BUGS, inaccuracies, horrible functionality, features left to be "built" out, no accounting tools whatsoever, call dialers don't even work accurately, staff is RUDE and demeaning, no credit bureau reporting functionality AT ALL, ERRORS, Value of the software, insufficient TRAINING/SUPPORT, ORGANIZATION of the platform, the inability to do daily simple tasks.

Reasons for switching to BEAM

We were in a vulnerable situation when our server crashed and was misled, lied to and didn't do our research. Thinking the grass was greener based on the lies they sold to us. Lesson learned, DO YOUR RESEARCH before trusting a company. Even the sales person doesnt even work there anymore, wondering why?

Tim

Financial Services, 11-50 employees

Used daily for less than 2 years

Review Source: Capterra

OVERALL RATING:

5

EASE OF USE

5

VALUE FOR MONEY

5

CUSTOMER SUPPORT

5

FUNCTIONALITY

5

Reviewed April 2017

BEAM SOFTWARE REVIEW

We partnered with BEAM software over a year ago and have been very pleased with all that was promised and delivered. Very satisfied and great people to work with.

PROS

Integrations and workflow automations.

cliff

Financial Services, 2-10 employees

Used daily for less than 6 months

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

1

EASE OF USE

1

VALUE FOR MONEY

1

CUSTOMER SUPPORT

1

FUNCTIONALITY

1

Reviewed January 2024

Customer service is not what they promised it would be

It took 9 months to convert our data. During that time communication was scarce. I had to constantly ask for updates and next steps. After the conversion we had approximately 2 weeks of training. There is no way anyone can learn a new software in 2 weeks. There are simply to many day-to-day tasks that need to be relearned and there weren't any manuals for training so anytime you have an issue you had to reach back out to "support" for instructions or clarification. There were "bugs" in the system that caused you to think you were doing it wrong only to be told "oh that feature hasn't been built out" or "yea we knew about that issue".

PROS

the sales guy (who left before we went live)

CONS

There are only 3 people on support staff (including the owner) they would make you feel like you were an idiot because they didn't understand your needs or didn't "use to do it that way at their other companies".

Reason for choosing BEAM

we wanted to go to a cloud based solution that offered the level of support to maintain compliance and be able to continue to serve our clients in the most efficient way possible.

Reasons for switching to BEAM

We wanted to go to a cloud based solution that would suit our needs. It ended up being a far less superior product. After less than 3 months we went back to our old software provider. Beam advertises "tailoring BEAM to your specific needs, and providing essential ongoing support. The Beam Software Support Team helps you eliminate timely, costly, and complex installations and rollouts." i don't agree with any thing they claim.

Vincent

Verified reviewer

Financial Services, 11-50 employees

Used daily for more than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

OVERALL RATING:

3

EASE OF USE

4

VALUE FOR MONEY

2

CUSTOMER SUPPORT

1

FUNCTIONALITY

4

Reviewed April 2018

Feature Rich Software Sometimes Hindered by Bugs & Poor Support

PROS

The people at Beam have created a generally solid piece of collection/debt buying software. They have added many features over time that really enable us to do just about everything we need to do. There is a nice web portal to go along with it that they're always adding new features to (such as recently, mass updates to data fields through a web UI). It's relatively easy software to maintain from an IT perspective as well. Compared to other collection software I've seen and used, I think they've got a good thing going except for my clear set of cons below.

CONS

Every time there is a version update, we end up discovering several bugs which can take months to fix. Sometimes it's a somewhat major issue which can be very frustrating. Need better QA for sure. Support tickets can often sit open for months at a time with little to no response (even if we beg for one). This has been an issue for several years for our organization. I understand people get busy, but not responding to a request for an update 1 month since the last one on 20+ open tickets can also be very frustrating. There is no official documentation. There is on-site training when you purchase (which i wasn't here yet for) and some docs on their doc site that are mostly 2-3 years outdated. This leads to support tickets or self-discovery. It is also a bit pricey, comparatively. We have MFT software where the maintenance is 1/10th of what we pay annually for this.

Kelly

Used free trial

Review Source: Capterra

OVERALL RATING:

3

EASE OF USE

1

VALUE FOR MONEY

2

CUSTOMER SUPPORT

5

FUNCTIONALITY

1

Reviewed April 2017

Great team and support, processes are very manual.

The support team is just wonderful. Couldn't ask for a team that is more committed to trying to help their client. The system however requires all processes to be manually processed to the point that errors and omissions are frequent creating servicing and reporting issues. The amount of overtime I have to pay my employees is overwhelming just to manually process everything. the system is very easy for agents, loading business but data exports and formatting creates issues.

7 Reviews