March 10, 2020

Introducing the Enhanced Bectran Cash Application Solution

Bectran B2B credit management cloud solution redefines Cash Application automation capabilities to achieve accurate matching of customer payments with drastic reduction in Collections and AR management costs.

CHICAGO, March 10, 2020 (GLOBE NEWSWIRE) -- Bectran, Inc., the leading B2B credit management SaaS platform, announced today the release of its enhanced Cash Application solution to accommodate multiple Data Formats and Financial Data Exchange APIs. This enhanced solution, complete with advanced automation capabilities and unparalleled accuracy in transactions matching, eliminates over 90% of existing corporate Cash Application costs, significantly improves the accuracy of corporate AR efforts and produces accurate and timely updates within customers’ accounts.

Since inception, Bectran has pursued a relentless goal of significantly lowering the cost of credit operations while accelerating organizations’ order-to-cash cycles through the digitization and automation of 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 solutions engineering. With this enhanced Cash Application solution, we sought to create a solution that delivers quick, tangible and measurable results through automation and a set of easy-to-use functionalities.”—Louis Ifeguni, CEO and founder of Bectran.

Bectran Cash Application Capabilities:

  • Open Application Programming Interface (API)—Financial institutions provide payment data in different formats. These data formats include OFX, BAI1, BAI2 and a plethora of other textual formats. The Bectran Open API provides a versatile data ingestion framework that allows data of any format to be processed and applied to clients’ AR records.
  • Multi-Criteria Matching—Matching payment transaction receipts from bank records to customer invoices is the foundation of any cash application process. The enhanced Bectran Cash Application system offers configurable Multi-Criteria Matching, allowing users to define and apply unique rules to their payment transactions content. This Multi-Criteria Matching capability allows Bectran to match transactions with pinpointed accuracy.      
  • Configurable Automation Rules—This functionality allows different levels of automation capability to address varying complexities in transaction-matching criteria. With the Configurable Automation Rules capability, companies can segment their payment transactions by levels of matching complexity and subsequently apply the preferred level of automation to those transactions.
  • Intelligent Recommendations—Due to data source errors, all payment transactions cannot be matched by simple comparison computations alone. Bectran utilizes a proprietary algorithm that weighs historical, contextual and other customer account data elements to recommend perfect matches to even the most complex payment transactions.
  • Integrated Credit, AR & Collections Management Solution—The enhanced Bectran Cash Application system operates within the context of a seamlessly integrated Credit, AR and Collections Management platform, leveraging the integrated architecture to update customers’ invoice statuses, synchronize AR records and update ERP system information, all with a single click—for every payment transaction.

Availability and Additional Resources

The enhanced Bectran Cash Application solution is available to Bectran customers today. Learn more 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% 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.


Media Contact

Solutions Contact

Nolan Grandaw

(630) 626-4914

nolan.grandaw@bectran.com