Bectran Adds Advanced Approval Automation Engine to Process and Manage Construction Project Sheets in Real Time

CHICAGO--(BUSINESS WIRE)--Credit, Collections & Accounts Receivable Software leader Bectran, Inc. has released an enhanced solution to its automated risk evaluation and approval framework for construction project job sheet processing. Bectran’s Construction Project Job Sheet Management Solution will digitize and automate the approval process for construction projects while simultaneously identifying and managing credit and performance risk. The solution utilizes industry- and business-specific risk criteria to evaluate and approve project job sheets automatically, eliminating wasted time while ensuring data accuracy. The solution leverages robust risk management models to evaluate in real-time both credit and performance risk.

Presently, the industry standard for construction project job sheet management is predominantly manual and paper based which does not guarantee completeness or accuracy and leaves companies open to increased risk of delays, inaccurate results, and inefficient time usage. Additionally, these legacy systems cannot integrate with external data sources, making the assessment of performance and credit risk a tedious and time-intensive process. Above all, 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 Sheet Management Solution provides a digitized, scalable, user-friendly and comprehensive work process with a robust configurable automation framework. The digital framework facilitates the end-to-end management, monitoring, and reporting of construction project jobs across multiple industries. With capability for real-time data aggregation, Bectran’s solutions provide actionable insights that propel data-driven approval decisions, reducing the probability of default and increasing the propensity for repayment.

Supporting Quotes

“We built the Construction Project Job Sheet Management Solution to bridge a much-needed productivity and risk management capability gap in the HVAC industry. We have continued to extend and enhance the solution to address intricate processing nuances across various industry segments. This product enhancement has been another major advance to reach 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 companion toolkit for the Credit Department just as a 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. To learn more, visit www.bectran.com.

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