Bectran Adds Advanced Approvals Automation Engine to Process and Manage Construction Project Tickets in Real Time | Company

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CHICAGO–(BUSINESS WIRE)–August 11, 2022–

Credit, collections and accounts receivable software leader, Bectran, Inc., has released an enhanced solution for its automated risk assessment and approval framework for processing construction project work tickets. Bectran’s Construction Project Job Ticket Management solution will digitize and automate the construction project approval process while simultaneously identifying and managing credit and performance risk. The solution uses industry and company-specific risk criteria to automatically assess and approve project worksheets, eliminating wasted time while ensuring data accuracy. The solution relies on robust risk management models to assess both credit risk and performance risk in real time.

Currently, the industry standard for managing construction project job tickets is primarily manual and paper-based, which does not guarantee completeness or accuracy and exposes companies to increased risk of delays, inaccurate results and inefficient use of time. Additionally, these legacy systems cannot integrate with external data sources, making performance and credit risk assessment a tedious and time-consuming process. Importantly, manual project risk management systems cannot effectively scale to support high transaction processing environments, often resulting in process abandonment with huge associated costs.

Bectran’s construction project job ticket management solution provides a digitized, scalable, user-friendly and comprehensive work process with a robust configurable automation framework. The digital framework facilitates end-to-end management, monitoring and reporting of construction projects across multiple industries. With real-time data aggregation capability, Bectran’s solutions deliver actionable insights that power data-driven approval decisions, reducing the likelihood of default and increasing repayment propensity.

Supporting quotes

“We designed the worksheet management solution for construction projects to fill a gap in productivity and risk management capability that is much needed in the HVAC industry. We have continued to expand and improve the solution to address complex processing nuances in various industry segments. This product enhancement was another major step towards achieving the goal,” said Louis Ifeguni, CEO of Bectran.

Additional Resources and Availability

The Bectran Construction Project Job Sheet solution is now available to our customers.

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 a 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.

Social media links: LinkedIn | Twitter

Bectran is a registered trademark of Bectran, Inc.

All product and company names mentioned herein may be trademarks of their registered owners.

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CONTACT: Bectran, Inc.

Angelina Rose

703-596-8089

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS

INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE OTHER PROFESSIONAL SERVICES CONSTRUCTION & REAL ESTATE DATA MANAGEMENT MANUFACTURING INSURANCE TECHNOLOGY FINANCE FINTECH BANKING ACCOUNTING PROFESSIONAL SERVICES SOFTWARE DATA ANALYSIS HVAC

SOURCE: Bectran, Inc.

Copyright BusinessWire 2022.

PUBLISHED: 08/11/2022 11:20 AM/DISC: 08/11/2022 11:21 AM

http://www.businesswire.com/news/home/20220811005539/en

Copyright BusinessWire 2022.

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