It’s becoming more apparent every day that the world in which we live, work and otherwise operate is quickly changing—sometimes by the minute. Amid this unprecedented pandemic landscape, society is hurriedly learning the importance of adaptation and creating a “new normal” that promotes productivity and the preservation of organizational and personal capacity.
As organizations encourage, or even mandate, their employees to transition to an indefinite Work-From-Home period, many professionals may be wondering how they can bridge the gap from their offices to their homes without experiencing productivity drops. However, some job duties are easier to perform from the Work-From-Home office, kitchen table or couch than others.
For the traditional Credit Department, accomplishing credit management objectives in a Work-From-Home office environment without the aid of a robust digital platform can be operationally daunting, whether those objectives pertain to Credit Origination, Accounts Receivable or Collections Management. The right digital solution addresses this shortcoming through the comprehensive digitization and automation of credit information, the credit work process and everyday credit management tasks.
An Impossible Combination: The Traditional Credit Process & Work-From-Home Offices
The traditional credit process has remained largely manual—or quasi-manual at best—across industries, despite rapid technological improvements and the emergence of credit management software solutions with digital workflows and automation capabilities. While this albeit outdated process has worked well enough until now for some companies, the breakneck-speed switch to the Work-From-Home office scenario has highlighted the inconveniences and impossibilities of continuing this model in a culture that no longer operates within the confines of corporate office walls.
This traditional process fails to support geographically dispersed Work-From-Home offices for the following reasons:
Disconnections in the Credit Work Process due to Built-In Manual Interventions
The traditional credit process is largely paper-based and requires physical organization and presentation of credit information. For higher risk credit decisions, the process often requires in-person collaboration to review and sign off on supporting documents. These circumstances severely limit the viability of Work-From-Home offices, as most of the activities can only be performed in a shared physical space.
The Need for In-Person Physical Access to Credit Documents
In the traditional credit process, customer credit information is manually organized and stored in manual filing cabinets. This situation creates the need for in-person physical access to credit information, while posing a major constraint to a successful Work-From-Home office environment.
The Bectran Solution
The Bectran All-In-One Credit Management Solution provides a comprehensive digital office for the Credit Department. With the Bectran solution, credit professionals can operate remotely in their Work-From-Home offices just as efficiently as they would in their shared corporate office spaces.
In these unprecedented times where employees are forced to perform their tasks from their geographically disparate Work-From-Home offices, Bectran customers have continued to perform their daily credit management tasks without an iota of loss in productivity. Recently, Bectran has also seen an upward demand for its credit management solution as more companies endeavor to empower staff to operate from a Work-From-Home office environment.
The suite of Bectran Solutions is comprised of the Electronic Credit Application System, Credit Management Workflow, Accounts Receivable Management, Collections Management, Transactions Disputes Management, Billing & Payments, Credit Analysis & Reporting, Contractor’s Job Sheet Management, etc. Bectran customers include industry-leading HVAC suppliers, tire manufacturers, food distributors, media conglomerates, construction companies, wholesalers and more.
“Since we implemented the Bectran system nearly two years ago, it has been a game-changer in helping us make fast and informed credit decisions. Now, as we transition to working from home, I can’t imagine companies being able to stay productive and on top of their financial and operational goals without the electronic tools and workflows that the platform provides. Bectran has helped my team stay in touch and on top of our credit strategy, no matter where any of us are at.”
-Berenice Dominguez, Credit Manager of Horizon Personnel Services
If your business is ready to explore the benefits of a digital Credit Department transformation, Bectran is offering free advice and a free platform trial now through July 1, 2020. To take advantage of this offer or for more information, please contact our Sales team at email@example.com or call (888) 791-6620.
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.
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.
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