Bectran Announces New Credit Management Tasks Automation System to Lower Operating Costs and Optimize Credit Risk for the Corporate Credit Function
CHICAGO, Sept. 12, 2018 (GLOBE NEWSWIRE) -- Bectran, Inc., the leading B2B credit management SaaS platform, has continued to seek opportunities to abstract and automate most of the everyday tasks performed by credit managers. Some of the credit management tasks automation systems pioneered and refined over the years by Bectran include credit reference checks, configurable automatic credit data gathering from different sources, accounts receivable portfolio tracking and risk optimization, collections management tasks automation, Instant Credit Decisions, and more.
Since the introduction of the Bectran Instant Decision Manager (IDM), companies have been able to cut down as much as 50% of the tasks performed on credit reviews and decisions on certain segments of their customer base. In the emerging credit department, operational cost savings and credit risk containment have continued to drive decisions for competitiveness in the marketplace.
“Digital transformation through process and tasks automation will continue to drive corporate ROI on the credit department in both credit risk optimization and staff productivity,” said Louis Ifeguni, CEO and founder of Bectran.
In response to the yearnings of the Bectran customer community, Bectran is excited to announce the addition of the Automated Decision Processor (ADP) with the capability to collect and analyze information from different sources to eventually reach decisions on credit requests, all based on configurable credit policy and risk models. Industry experts have hailed this as a major step towards freeing increasingly scarce capacity in the credit department and a true emergence of the automated credit worker.
The ADP has been carefully engineered for ease of adoption and builds upon the specificity of a company’s credit management policy. It is quick to set up and deploy, leading companies to experience gains in productivity and risk optimization within days or weeks upon solution rollout.
How it works
The customer completes and submits a credit application. The ADP automatically triggers information gathering based on company policy. The ADP analyzes all information on the customer within configured thresholds and provides a decision. All the above activities happen without human intervention. The typical cycle time of ADP task execution activities could range from seconds to days.
Productivity and Risk Optimization. Given that the automated processes within the ADP model track and execute configured tasks continuously, the credit department achieves a much faster transactions processing rate at very low human costs. The Bectran ADP allows for the implementation of rigorous risk evaluation models with the goal of achieving risk-minimized credit decisions.
Increased Return on Capacity Utilization. With a significant portion of credit management tasks delegated to the Bectran ADP, credit management professionals can redirect their efforts to more high-level strategic credit management activities. With the freed-up capacity, the credit department can invest more time on building collaboration with the sales team the customers to quickly resolve bottlenecks and ultimately boost overall customer satisfaction and revenues.
Availability and Additional Resources The ADP solution is available beginning today to Bectran’s customers. Additional information can be found on the Bectran website at www.bectran.com.
About Bectran Bectran, the industry leading SaaS platform, has grown rapidly over the years to become the companion toolkit for the Credit Department just as CRM is for the Sales Department. From simple to complex organizations, and SMEs to Fortune 500 companies, Bectran has helped companies cut down the time to process and approve credit by over 90% whilst significantly lowering the risk of credit defaults and the cost of collections. Bectran’s clients enjoy the ease, speed, and cost-effectiveness of adopting the Bectran platform. New clients are on-boarded in a matter of days/weeks. Credit Professionals in various industries have described the Bectran platform as the future of the credit department. Recently, Bectran was recognized as a top innovator in the credit software industry. Learn more at www.bectran.com.
Media Contact Saaniya Ahmed Saaniya.Ahmed@bectran.com630-626-0621 Solutions Contact Ali KidwaiAli.Kidwai@bectran.com630-626-0615