CHICAGO–(BUSINESS WIRE)–Responsible for credit, collection and accounts receivable software Betran, Inc. today announced that companies across all industries are using the Bectran platform to bring digital transformation to the service of credit. The Bectran credit management solution enables customers, including Michelin, Ben E. Keith and Floor & Decor, to accelerate the credit approval process through the automation of processes and tasks while mitigating risk through real-time analytics and decision support.
As businesses around the world prioritize digital transformation, finance leaders are tasked with taking a digital-first approach to updating legacy credit management systems. Bectran’s digital workflows facilitate end-to-end management, monitoring and reporting of all credit department activities, providing actionable insights to increase productivity and minimize risk. From automated approval workflows to immediate data aggregation, the Bectran platform provides clients with the tools to digitally transform credit service.
“The application of digital technologies is essential to maintain a long-term competitive advantage. Companies are looking for real-time, data-driven decision support to drive productivity and create actionable insights,” said Louis Ifeguni, CEO of Bectran. “Bectran’s commitment to maximizing operational efficiencies within the credit department makes us the ideal partner for companies to begin optimizing their credit, collections and accounts receivable operations through digital transformation.
How Large Enterprises Benefit from Bectran’s Credit, Collections and Accounts Receivable Management Platform
“Michelin was looking for a credit management solution that offered full integration capabilities with our current CRM. We needed this integration to give our team instant access to all customer history, allowing them to make data-driven credit decisions. With weekly implementation meetings and full support from the Bectran technical team, information from our CRM was seamlessly integrated into the Bectran application. The automated data aggregation and credit scoring capabilities of Bectran’s IDM have helped Michelin’s credit department make data-driven credit decisions faster,” said Tim Murphy, Senior Information Systems Project Manager at Michelin, the world leader in the manufacture and distribution of tyres.
“Prior to Ben E. Keith’s partnership with Bectran, our credit application process provided customers with a less than ideal user experience. The process was completely manual with multiple sticking points that lengthened the sales cycle. Bectran’s electronic credit application tool helped Ben E. Keith eliminate those friction points and shorten the approval process through automation. Our credit teams and clients quickly adapted to the Bectran platform, which is a testament to the implementation process and the support and resources provided by Bectran,” said Dan Harvick, Vice President of Credit at Ben E. Keith Companythe fifth largest foodservice distributor in the United States.
Floor and Decor
“Manual data entry and analysis of spreadsheets no longer supported Floor and Decor’s increased volume of credit inquiries, and traditional reporting methods provided little actionable insight. Bectran’s cloud-based credit management solution gave our credit teams the visibility and real-time data needed to develop a sustainable risk mitigation strategy. Automated workflows and process standardization allow the credit department to provide accurate credit decisions faster, improving Floor and Decor’s total cash flow and putting the company in a sound financial position to promote its expansion. future,” said Len Brown, Commercial Credit Manager at Floor & Decora specialty retailer and wholesaler of hard surface flooring.
About Bectran, Inc.
Bectran, the industry-leading SaaS platform, has grown rapidly over the years to become the complementary toolkit for the credit department, much like CRM is for the sales department. Whether it’s simple or complex organizations, SMBs or Fortune 500 companies, Bectran has helped companies reduce credit processing and approval time by more than 90% while dramatically reducing the credit default risk and the cost of collections.
A growing number of businesses depend on Bectran to manage their accounts receivable and collections. With significant automation of processes and tasks, businesses are able to reduce the cost of collections by 60-90% while accelerating the collection cycle with comprehensive and accurate treasury applications.
Bectran customers appreciate the ease, speed and cost-effectiveness of adopting the Bectran platform. New customers are onboarded within days or weeks. Credit professionals from various industries have described the Bectran platform as the future of the credit department.
To learn more, visit www.bectran.com
Bectran is a registered trademark of Bectran, Inc.