Credit, Collections & Accounts Receivable Software leader Bectran, Inc. has developed a fully automated risk mitigation and evaluation solution to automatically approve high volumes of credit requests based on customizable risk criteria. The novel multi-tiered auto approval model will systematize the credit evaluation process into multiple levels of assessment, producing advanced results that are almost impossible to attain at scale through traditional paper-based methods of evaluating credit risk. Bectran’s cascading approval model dissects complex data sets into tiers, ensuring the most comprehensive evaluation of a customer — based on customizable, company-specific logic triggers — while simultaneously cutting down on processing and approval times.

Currently, credit application screening procedures are subjected to tedious and time-intensive processes. Present industry solutions do not account for the automatic review of data sets to produce multiple levels of risk evaluation. Consequently, businesses may be falsely identified as a high or low credit risk — or outright rejected — because of inaccurate or rigid evaluation procedures. Similarly, businesses that operate in a high-volume processing environment often base their credit decisions on a standardized scorecard that rarely depicts an encompassing snapshot of the respective credit risk at hand. Ultimately, current credit evaluation processes allow too much space for inconsistencies and leave businesses susceptible to increased risk of delays, inaccurate results, and inefficient time usage.

Bectran’s multi-tiered auto approval model allows for increased efficiency in approving credit requests based on multiple data inputs. These logic sets are ratified against multiple levels of evaluation, giving your business an advantage over the time-consuming, paper-based industry standard credit processing methods. The Bectran solution allows for the opportunity to create personalized evaluation criteria specific to each business’s processing needs, keeping the control for final credit approval and terms-setting of high-risk credit applications in the hands of credit professionals while simultaneously removing the onus of approving low-risk applications from their schedules. This new model continues Bectran’s mission of providing software that simplifies and streamlines mundane financial tasks and allows our clients to focus their valuable time on more strategic initiatives. Above all, the solution utilizes customizable risk criteria to evaluate and approve high volumes of credit applications, eliminating wasted time while still ensuring data accuracy.

Supporting Quotes

“The Bectran multi-tiered auto approval model was designed to further simplify and optimize the credit approval process at scale. Bectran understands the complexity of mitigating risk in a high-volume transaction environment and consequently, we have developed this multi-tiered auto approval model to help drive your company’s competitive advantage by delivering faster, more accurate and comprehensive evaluations,” said Louis Ifeguni, CEO of Bectran.

Additional Resources and Availability

The Bectran multi-tiered auto approval model solution is now available to our customers.

About Bectran, Inc.

Bectran, the industry leading SaaS platform, has grown rapidly over the years to become the companion toolkit for the Credit Department just as a 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% while significantly lowering the risk of credit defaults and the cost of collections.

A growing number of companies are depending on Bectran to manage their Accounts Receivable and Collections. With significant process and task automation, companies are able to cut down the cost of collections by as much as 60-90% while accelerating the cash receipts cycle with complete and accurate cash applications.

Bectran’s clients enjoy the ease, speed, and cost-effectiveness of adopting the Bectran platform. New clients are onboarded in a matter of days or weeks. Credit professionals in various industries have described the Bectran platform as the future of the Credit Department. To learn more, visit www.bectran.com.

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Bectran is a registered trademark of Bectran, Inc.

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