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July 18, 2023
Chicago — Bectran, Inc., the pioneering financial technology innovator known for its process-driven automation solutions, has launched an advanced audit framework to capture more data and document every step of a user’s journey for maximum reporting and oversight capabilities. This adaptable framework revolutionizes the way enterprises prepare for and manage audits, enabling unprecedented efficiency and risk mitigation.
After watching business grapple with the complexities, frustration and stress of auditing processes, Bectran recognized the need for a more comprehensive solution to streamline and enhance audit management, complete with extensive audit trails for every interaction. This framework enhancement is the latest in Bectran’s commitment to not only automate and accelerate manual, repetitive tasks but to also to provide extensive documentation for credit professionals.
These upgrades create a new industry standard for auditing frameworks, allowing organizations to more efficiently track and manage dispute resolutions while maintaining records of each user and customer interaction down to the minute level.
Key features and benefits of the enhanced audit capabilities include:
- Transparent Change Management: Bectran’s enhanced audit framework helps to enable more user accountability by providing a clear record of responsibilities, procedures and expectations, ensuring transparency and consistency in all user interactions and procedures.
- Streamlined Audit Processes: With all user and customer interactions clearly documented within the account, the audit records you need are always at your fingertips, accelerating the audit process and keeping you in control of your customer accounts.
- Error Reduction: When every interaction, change and configuration are clearly documented, it is easy to find and correct the source of errors before they compound into larger challenges. This means you and your team are better able to catch errors before they become habits, also.
- Enhanced Risk Management and Compliance: The framework’s ability to automatically capture every exchange ensures that your teams are always prepared with extensive records for compliance and are armed with extensive data to create even more enhanced risk mitigation strategies and models.
- Improved Oversight: With extensive audit trails readily available, leaders and managers are better able to track, manage and maintain the multitude of accounts under them. Intricate record-keeping will help you find critical areas of optimization, pin-point challenges before they compound and better anticipate friction points.
- Continuous Process Improvement: The framework’s vast documentation provides a database for you to easily review account interactions from end-to-end, allowing comprehensive overviews to catch areas of improvement and find solutions early.
"Bectran is proud to implement the industry's most advanced audit framework with this latest enhancement to our comprehensive credit, collections and AR toolkit," said Louis Ifeguni, CEO of Bectran. "We believe that any repeatable process should be automated to unlock substantial benefits, from increased productivity to enhanced risk mitigation. With this framework, businesses gain a transformative tool that empowers them to automatically capture and record clear and detailed audit trails along every step of the customer’s lifecycle."
Bectran remains at the forefront of credit, collections and accounts receivable technology providers, offering this audit framework with its extensive capabilities to all users immediately. From automating UCC filing updates to aggregating asynchronous communications into a centralized platform to automatically creating and maintaining extensive audit trails, Bectran is the one-stop-shop for credit, collections and accounts receivables professionals ready to take their career to the next level.
To start increasing your productivity and streamlining your audit processes, reach out to a Bectran representative today to explore the possibilities of upgrading your audit framework.
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% 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.
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