Bectran Announces New Cloud Platform Capabilities

Bectran B2B Credit Management Cloud Solution Reinvents How Organizations Evaluate and Approve Credit, Manage Accounts Receivable and Automate Collections All From a Single Platform

CHICAGO, IL –(MARKETWIRED)--Bectran, Inc., the leading B2B credit management SaaS platform, announced today the additions of Accounts Receivable and Collections Management capabilities to its platform. With these additions, the Bectran platform now offers a one-stop solution to credit departments in small, medium and large-scale companies.  The Accounts Receivable and Collections Management solutions will help companies speed up their cash collections, resolve billing, invoicing, payment and other credit issues and ultimately lower incidences of credit defaults and minimize collections costs.

Bectran aims to continue to significantly lower costs of credit operations and accelerate the order-to-cash cycle for companies through the digitization and automation of everyday credit management tasks. “Great software is a smart, intuitive and easy-to-use solution to everyday practical problems. This principle has been at the core of the Bectran platform’s solutions engineering. With the Accounts Receivable and Collections Management additions, we sought to create a solution that delivers quick, tangible and measurable results through automation and a set of easy-to-use functionalities,” said Louis Ifeguni, CEO and founder of Bectran.

Bectran Accounts Receivable and Collections Management Capabilities:

  • Pre-Collections Management.  The Pre-Collections Management solution helps companies to significantly cut down on the cost of collections by engaging their customers in the early stages of the billing and payment cycle, and thus pre-empting payment-hindering issues. This solution offers companies a set of preferences for automating early identification of potential issues with current invoices and providing options for resolving those issues before the invoices are past due for payment.
  • Invoicing, Billing & Payments. This is a Self-Service online portal that empowers companies’ customers to manage their invoices, resolve billing and payment disputes, provide documentation and schedule electronic payments of their invoices.  This solution is a valuable extension of the Accounts Payable department and helps companies and their customers lower transaction processing costs and improve customer retention.
  • Flexible Payment Plans Structuring and Execution.  A set of tools that helps companies structure and execute flexible and mutually beneficial payment plans with their customers. A mutually beneficial payment plan helps companies lower the cost of defaults, improve cashflows and achieve better customer retention.
  • Accounts Receivable Disputes/Issues Management. This solution helps companies identify and resolve issues that could delay payments from their customers. Be it pricing, product, shipping or process issues, companies are able to identify, capture and resolve these issues in a transparent, timely and efficient manner.
  • Portfolio Organization & Analytics. This enables companies to organize and analyze their Accounts
    Receivable by several risk metrics.  The risk metrics provide valuable insight into credit performance at different levels of aggregation and thus create an effective platform for quicker responses to changing market conditions.
  • Collections Management Process Automation. Comprises a set of configurable execution strategies and APIs that automate everyday collections management tasks. The Automation process tracks, measures and reports execution outcomes and provides options to re-adjust strategies to maximize Collections Effectiveness.

Availability and Additional Resources

The Accounts Receivable and Collections Management 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.

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Bectran is a registered trademark of Bectran, Inc.
Source: Bectran, Inc.

Media Contact
Saaniya Ahmed
Saaniya.Ahmed@bectran.com
630-626-0621

Solutions Contact
Nolan Grandaw
Nolan.Grandaw@bectran.com
630-626-4914

Bectran Completes SOC 2 Type II Audit:

B2B Credit Management Platform Provider Continues to Meet Latest Industry Standards

ITASCA, IL – (Marketwired-September 26, 2017)- Bectran, Inc., a leader in bringing automation, digitization, and artificial intelligence to the B2B credit management solution space, announced the successful completion of the SOC 2 Type II audit for its industry-leading cloud-based credit management platform. The audit was conducted by The Moore Group, CPA, a specialist in SOC 1, SOC 2, and SOC 3 audits.

SOC 2 is a set of compliance requirements developed by the American Institute of Certified Public Accountants (AICPA) specifically for service organizations that store customer data in the cloud. The requirements are based on 5 Trust Service Principles established by AICPA: security, availability, integrity, confidentiality, and privacy. SOC 2 requirements go beyond audit of the technical system and examine the policies, procedures, and systems of the organization to ensure that they meet the security and risk requirements necessary to protect customer data in the cloud environment.

“Our customers, above all, care about the security and confidentiality of their data. From inception, Bectran has continued to engage and deploy top-notch technologies to guarantee the safety, security, and confidentiality of our customers’ data.” – Louis Ifeguni, CEO

Completion of the audit affirms that Bectran has developed internal policies, procedures, and systems to ensure customer data is secure and rigorous processes are in place to address security concerns. The accomplishment shows Bectran’s capacity to maintain strict security compliance in a changing and expanding cloud environment by utilizing the latest industry best practices.

 

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, 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 clients 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.

 

For additional information contact:

Daniel Gambrell, Marketing Manager

daniel.gambrell@bectran.com  |  630-626-4909   | www.bectran.com