CHICAGO, September 22, 2022--(BUSINESS WIRE)--Credit, Collections & Accounts Receivable Software leader Bectran, Inc. has continued to enhance the account hierarchy capabilities across its platform to provide optimal credit risk visibility. This intentional design amplifies the capability to instantaneously view multiple layers of data for an account and its transacting affiliates and projects at the enterprise level. An account hierarchy is a framework to visualize a set of accounts organized according to their positions in relation to each other. The different levels of hierarchy within each account represent the multiple layers of detail available for companies with many branches, locations or affiliates, much in the same way that many account structures refer to parent/child relationships. Accordingly, the Bectran account hierarchy structure was designed with the intention of making monitoring and reporting a more seamless, simplified and customizable process for the end user while easily identifying and highlighting potential risk factors.
At scale, continuing to monitor and measure your exposure comprehensively is an arduous process, especially when a company has a complex enterprise structure. Additionally, the likelihood of falsely identifying an account as low risk or overlooking a high-risk project increases exponentially as companies scale and add more transactions. Further, paper-based methods of viewing structural components of a business rarely depict an optimal snapshot of total risk exposure of all related accounts simultaneously, putting businesses at a greater threat of error in identifying and acting on issues. Ultimately, this leaves the company susceptible to inaccurate results and inefficient time usage.
Bectran’s account hierarchy structure was specifically developed to account for transaction risk in a complex account structure. Consistent and side-by-side analysis and reporting enables a business to maintain a comprehensive portrait of its critical risk indicators at scale, while gaining valuable data-driven insights into the health of an account. Furthermore, with this structure, you have the freedom to dictate which data to capture specific to your own organizational needs and what you consider most valuable. This structure also provides several metrics for measuring the performance and effectiveness of the credit management process — or, inversely, for viewing, monitoring and rectifying risk factors — across the entire hierarchy. Above all, the intricate level of detail and customizable design makes reporting and monitoring risk a seamless process, resulting in significant time savings and comprehensive monitoring of exposure.
"The Bectran account hierarchy structure was designed to allow credit managers to take back their time, and to evaluate exposure quickly on one screen. Bectran’s account hierarchy enables the enterprise level user to operate at scale across all locations of an organization. At Bectran, we recognize the need to have end-to-end visibility in exposure and the importance of having the most comprehensive and customizable data structure at your fingertips, which is what prompted this continued enhancement of the platform," said Louis Ifeguni, CEO of Bectran.
Additional Resources and Availability
The Bectran account hierarchy structure 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.
Bectran is a registered trademark of Bectran, Inc.
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