Bectran’s Advanced Order Hold Management System Revolutionizes Credit Departments
CHICAGO, Jan. 30, 2024 (GLOBE NEWSWIRE) — Bectran, Inc., a pioneer in credit, collections, and accounts receivable management technology, is thrilled to unveil its Advanced Order Hold Management System. This innovative product addition is exclusively designed for credit departments to swiftly resolve order holds in real-time, minimize exposure risk, and accelerate the order-to-cash cycle, marking a significant leap in operational efficiency.
“The system minimizes manual interventions, allowing businesses to focus on strategic growth and enhancing customer relationships. It’s a smart solution for balancing risk, speed, and customer satisfaction.” – Louis Ifeguni, CEO of Bectran, Inc
Order holds are a critical business process for most companies with high transaction volumes, yet this process is primarily manual. Traditional processes lack data analysis, increase the risk of human error, and often miss time-sensitive order approvals. Whereas out-of-the-box or homegrown order hold management systems are typically rigid, demand significant intervention, and may place holds on orders using only basic or mundane criteria, disregarding the customer’s transaction performance history. These traditional systems typically require a credit manager’s undivided attention for approval evaluation, failing to offer true efficiency.
Bectran is leading the market with its Advanced Order Hold Management system
Bectran has been consistently launching products that meet and exceed market expectations. The Bectran Advance Order Hold Management system provides a suite of automation models that intelligently combine a range of customer data, business policies, and processes to evaluate and decide on order holds in real-time. In addition, the system provides a range of metrics to guide the user on overall model performance and potential outliers for process refinement. Moreover, credit managers and admins can create order release models without internal IT involvement. This self-service option allows teams to tailor condition criteria for each hold circumstance. Another distinctive feature is its intelligent reprocessing logic, which reassesses all orders on hold, considering factors such as changes in customer credit limits, payments, and improved payment histories. This automation not only enhances customer experience but also substantially cuts down average order hold times, ultimately increasing productivity by over 70%.
Bectran is the premier SaaS platform for Finance Departments, akin to CRM for Sales. Trusted by diverse organizations, from SMEs to Fortune 500 companies, we streamline credit processing by over 90%, reducing credit defaults and collection costs. Many businesses rely on Bectran for efficient Accounts Receivable and Collections management, achieving up to 60-90% cost savings. With rapid onboarding in days, our platform is hailed by credit professionals as the future of credit management. Visit Bectran.com to learn more about financial solutions for your industry
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