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%.

Manage your order holds

About Bectran

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

Contact:
Lilly Filippov
312-637-3545
PR@Bectran.com

First published on Wed, Jan 31, 2024

Enjoyed what you've read so far? Great news - there's more to explore!

Stay up to date with the latest news, a vast collection of tech articles including introductory guides, product reviews, trends and more, thought-provoking interviews, hottest AI blogs and entertaining tech memes.

Plus, get access to branded insights such as informative white papers, intriguing case studies, in-depth reports, enlightening videos and exciting events and webinars from industry-leading global brands.

Dive into TechDogs' treasure trove today and Know Your World of technology!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs' members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs' Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. While we aim to provide valuable and helpful information, some content on TechDogs' site may not have been thoroughly reviewed for every detail or aspect. We encourage users to verify any information independently where necessary.

Tags:

Bectran Order Hold Management System Accounts Receivable Management Credit Management

Join The Discussion

Mimecast Unveils AI-Driven Human Risk Platform Innovations At Elevate 2025

Notified Leads AI Search Discussion At PRSA ICON 2025

Axonius Advances Cybersecuritys Most Trusted Asset Intelligence Platform, Announcing New AI Automation And Exposure Management Capabilities

Operant AI Discovers "Shadow Escape": The First Zero-Click Agentic Attack Via MCP

Anterior Wins Best Use Of AI For Healthcare From The International Cloud Artificial Intelligence Awards Program