Bectran to Offer CMA anscersX Multibureau Trade Credit Report

Leading in Innovation, Bectran Brings Users the Ability to Choose Data to Make Most Credit Decisions Within Its Platform

ITASCA, IL–(Marketwired – July 07, 2016) – During Q1, Bectran has teamed up with California-based Credit Management Association (CMA) to bring users its innovative anscersX™ multibureau trade credit data reports, allowing customers to access trade credit data from the big three reporting bureaus (Dun and Bradstreet, Experian and Equifax) within one click of the mouse. With the anscersX report, Bectran users gain access to important financial information, to provide a more complete picture of a company’s payment history resulting in more accurate and informed credit decisions.

“We put a lot of effort in including only the most pertinent information needed to assess a company’s credit worthiness,” explains Managing Partner of Trade Information Exchange, Robert Shultz. “We want to help businesses save time and costs while still remaining thorough in their evaluations. The anscersX report helps our users know that they have done due diligence in their decision-making.”

“The anscersX report is one resource that we use to better serve credit management professionals,” states CMA president Mike Mitchell. “You can never guess which provider(s) a particular company is reporting to. By bringing together data from the three main reporting agencies, we are helping credit managers save time as well as ensuring that all information has been taken into consideration.”

Within Bectran, users can choose to pull up to three credit reports from the bureaus, and users pay based on variable pricing, depending on how much data they need. This data is then summarized and scored for the user, and broken down to review for a decision. This data can automatically be pushed into Bectran’s standard scoring models, or a customized model can be built with specified weights and ratios tailored to the specific needs of a business. Pricing for the reports varies from $29 to $70, determined by the number of bureaus the user requests.

“Working with the entire CMA and anscersX teams has been a great experience for us, and important for our customers too. From initial call to deployment, our teams produced the seamless ability to access the right reports for all of our customers, with the ease and flexibility they demand,” says Eric Lee, Business Development Manager at Bectran Inc.

ABOUT BECTRAN

Bectran, the industry leading SaaS platform, has grown rapidly over the last five years to become the companion toolkit for the Credit Department just as CRM is for the Sales Department.From simple to complex organizations, 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. Our customers enjoy the ease, speed, and cost-effectiveness of adopting the Bectran platform. New clients are on-boarded in 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.

Adapting Credit Operations to Support Complex Organization

Virtually Organize the Credit Department

Often times, credit review activities are aligned with the business structure of a company. For most highly diversified companies, credit operations are organized around operating units and consolidated at the corporate level.  The greater the complexity and diversification of a company’s business structure the more challenging it is to track, account for and report credit transactions.  The Bectran Operations Management and Multi-Business Support modules enable companies to seamlessly adapt their credit operations to support the underlying business structure for both simple and complex/matrix organizations.

Multi-Business Support

The Multi-Business Support capability allows highly diversified and global companies to organize and manage their credit transactions at the business entity layers (divisions, subsidiaries, countries, etc.) and at the corporate or consolidated layer.

Multi Biz

With the multi-business support capability, CFOs, Corporate Credit Directors, Treasurers are empowered to review and account for credit management activities at different levels of the company’s operational hierarchy using several key metrics.

Operations Management

On the other hand, the Operations Management module allows credit management activities to be organized by responsibilities and streamlines the Sales/Customer Service organizations with the Credit/Finance departments for effective communications and routing of messages and documents. This is a critical feature for credit departments where daily management tasks need to be organized by credit managers for effective tracking and monitoring of credit management responsibilities, using simple to complex intelligent work queues. The Operations Management feature also streamlines the credit approval process with the internal policy for hierarchical approval of credit requests.

Accommodate Business Process Requirements with Adaptive Credit Workflows

Adapting the Credit Management Process to Your Company’s Unique Business Approach

From SMEs to major Fortune 500 companies across industries, there are often significant differences in credit management approaches. Such differences most times underscore the core strength of a company’s credit process. Often times, technology solutions impose standards and limitations that companies must adapt to with the consequence of losing the gains of the vital aspects of their traditional credit process. Thus, as much as technology solutions are often desirable, sometimes they lack the outcome of maximizing the intended benefits of their adaptation.

Adapt Wkfw graphic - Copy

Empower Sales/Customer Service Teams to upload Data and Vet Customers

In response to these industry-wide differences in the credit management process, Bectran created the Adaptive Workflow System, off the premise, “One Size Does Not Fit All”. With the Adaptive Workflow System, companies can configure the unique aspects of their credit process on their Bectran account while at the same time leveraging the baseline configurable universal credit management workflow. The Bectran Adaptive Workflow System addresses the unique work process needs of a company while at the same time offering them the power of a world class Credit Management work process.

For instance, the Bectran Adaptive Workflow System allows companies to set up and monitor pre-conditions and pre-verification steps by Sales and Customer Service Reps for new credit requests/applications. Such pre-verification steps could also require the specification of pre-defined static and dynamic information/document flows between Sales, Customer service and the Credit Department. With the Adaptive Workflow System, Bectran clients have empowered their Sales and Customer Service teams to provide much needed upfront data collection and vetting of customers applying for credit.

Monitor, Track and Report Performance Metrics

The Adaptive Workflow System also empowers companies to set up multiple conditions and paths for auto evaluation and approval of credit requests for instant decisions. With the Adaptive Workflow System, companies can define information, verification and specific routing rules between different classes of users in their company.

Another major feature of the Adaptive Workflow System is the localization of the credit process for local operating units within a global company. For instance, the Europe based subsidiary of a global company can configure unique processes applicable to their local market while at the same time leveraging the corporate baseline credit management work process.

The Adaptive Workflow System was designed to further enhance the power of the universal credit management work process on the Bectran platform. Better still, the Adaptive Workflow System tracks and records its performance with metrics, and provides the opportunity for fine tuning the Adaptive Workflow System set up for continuous performance improvement.

Bectran to Present at the National Electrical Manufacturers Meeting

Learn How to Navigate Common Roadblocks in B2B Credit Management

ITASCA, IL–(Marketwired – June 08, 2016) – Director of Sales at Bectran Nick Foley will be discussing 5 Roadblocks to Efficient Credit Management and How to Navigate Them at the National Electrical Manufacturers Credit Group Meeting at 3:15 PM, Thursday, June 9, 2016.

With more than 15 years of experience in financial services and technology sales, Nick Foley will be bringing insights from his experience working with industry leaders exploring options to streamline their credit management process.

The National Electrical Manufacturers Credit Group is one of the groups of National Association for Credit Management Midwest (NACM Midwest). The group includes members across the United States and have a strong regional presence in the US or Canada. The meeting’s sessions will be held June 9th through 10th, 2016.

The attendee list for the National Electrical Manufacturers Credit Group Meeting includes Kichler Lighting, Service Wire Company, Inc., United Cooper Industries, and many other notable companies.

As you know, networking with industry leaders gives knowledge, perspective, and the direction of the industry. Add the insights from Bectran, and you have a strong reason to attend.

We look forward to networking with credit personnel in the electrical manufacturers industry and Nick Foley will be happy to answer your questions on B2B credit management. Use this as an opportunity to gain new insights into your business.

ABOUT BECTRAN

Bectran, the industry leading SaaS platform, has grown rapidly over the last five years to become the companion toolkit for the Credit Department just as CRM is for the Sales Department. From simple to complex organizations, 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. Our customers enjoy the ease, speed, and cost-effectiveness of adopting the Bectran platform. New clients are on-boarded in 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.

Bectran Provides a Fresh Look at Shortening the Order-to-Cash Cycle

Bectran Notes Important Points Made Throughout Discussions in Sessions, and the Ideas That Were Brought up for Future Intelligence Within the AR Department

ITASCA, IL–(Marketwired – June 03, 2016) – Following the conclusion of the Accounts Receivable & Order-to-Cash (ARO2C) Conference, organized in Florida between May 24 and 26, 2016, Bectran is pleased to note that the conference was a tremendous success.

The exhibitors noticed a 50% increase in attendance prior to last year’s conference, which led to avid networking opportunities and extensive sessions. The sessions focused on improving leadership, team management, and the order-to-cash process.

Judy Bicking, Senior Trainer of IOFM, former Shared Services Director at Johnson and Johnson, led many of the sessions including talks on “Taking the Fear Out Of Managing Personnel Problems,” and “Re-Engineering the Order-to-Cash Process.”

Darin Ball, VP of Credit and Collections at DS Services, also shared his experience on how connecting personnel in this day in age leads to team success. He discussed how in current years shopping on Amazon and liking things on Facebook have bridged generational gaps, and that companies can drive success through teams oriented along these lines.

Eric Lee, Business Development Manager, Bectran, joined the panelists from Basware, Billtrust, and Creditron to discuss the future of accounts receivable automation. The panel discussed automation of the credit process, usage of artificial intelligence and robotics eliminating many areas of data capture, management, and analysis, and tools that talk to multiple systems via multiple interfaces.

The Bectran team looks forward to attending next year at Disney Yacht Club May 12-14th.

ABOUT BECTRAN
Bectran, the industry leading SaaS platform, has grown rapidly over the last five years to become the companion toolkit for the Credit Department just as CRM is for the Sales Department. From simple to complex organizations, 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. Our customers enjoy the ease, speed, and cost-effectiveness of adopting the Bectran platform. New clients are on-boarded in 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.

Speed up Credit Decisions & Minimize Credit Risk with Segmented Credit Analysis

One size does not fit all, especially in credit risk management. Better understanding of the credit risk profile of your customers leads to better credit decisions, likewise poor understanding leads to poor credit decisions.

Traditional Scoring Systems

Traditional credit risk assessment methods rely heavily on manual methods of data capture, aggregation and analysis. At best, few companies have quasi-digital internal risk assessment methods that rely on arcane and non-rigorous Scorecard Systems. Such scorecard systems lack the scale and flexibility to address differences in the credit risk characteristics across a broad customer base.

Truth is that, customers, be they small, medium or large scale companies exhibit major differences in their risk characteristics depending on their size, industry, nature of business, management quality, organizational complexity, etc. It therefore follows that assessing customers for credit risk using a single, no-variable and non-segmented credit risk evaluation model inevitably leads to misunderstandings of the customer risk profile and ultimately suboptimal credit decisions. Unfortunately, most companies lack the computational framework and capability that allows them to segment their customers by credit risk characteristics and apply the appropriate risk evaluation techniques.Capture

What is Segmented Scoring and Why is Segmented Scoring Necessary?

Segmented Scoring is a dynamic credit risk framework that allows companies to segment their entire customer base by characteristics of their customers’ credit risk profile. It allows companies to segment their entire customer base by the characteristics of the customers’ credit risk profile.

Risk segmentation helps companies gain better insight into their customer’s credit worthiness while at the same time speeding up their credit management process.  

How can Bectran Help?

One size does not fit all, especially, in credit risk management. Bectran has developed a time-tested and industry-proven dynamic credit risk assessment framework that allows companies to segment their entire customer base by the characteristics of the customers’ credit risk profile. With risk segmentation and granular risk modelling within risk segments, the Bectran Advanced Scoring System helps companies gain better insight into the Credit Portfolios of their customers while at the same time speeding up the time to manage their credit origination process.