Bectran Unveils Consolidated Payments for its Self-Service Payment Portal
April 17 2024 - 8:11AM
Bectran, Inc., an industry leader in technology for credit,
collections and accounts receivable management, has introduced a
revolutionary solution for self-service payments within its
Accounts Receivables platform. The change allows users to apply
payments and payment credits across customer hierarchies, creating
a more convenient customer experience and automating remittances.
“Our commitment at Bectran is to continually enhance our
solutions to meet the evolving needs of our clients,” comments
Louis Ifeguni, Bectran CEO. “This new feature represents a pivotal
step in simplifying the payment process for large enterprises,
offering unprecedented flexibility, control and time savings.”
Customer Hierarchies Challenge Accounts Receivable
Workflows
Contractors, accounts payable, and other users rely on
self-service payment portals to make easy, on-time payments. But
payment portals have historically fallen short for users overseeing
multiple accounts, such as those who manage bill-to or sold-to
entities with several ship-to accounts beneath them.
In contrast, most accounts receivable portals restrict payments
to the lowest account level. That forces users who oversee multiple
accounts in a customer hierarchy to pay for each account
individually — a time-consuming process. Moreover, this approach
locks payment credits to a single account, restricting users’
ability to use those credits on other accounts in the same
hierarchy.
Faced with the challenges of managing accounts individually,
many revert to traditional pen-and-paper payments, which despite
being more laborious, allow for easier processing across multiple
accounts. However, this method requires account receivable teams to
manually analyze payments and allocate credits across the
hierarchy, demanding significantly more time and effort while
introducing more risk for errors and compromising customer
information.
Make Payments Across Customer Hierarchies Easy and
Efficient
Bectran has made a fundamental shift that introduces the concept
of customer hierarchies into its self-service payment portal. The
change, unprecedented in the industry, has been complex to realize,
but Bectran sees it as a vital step toward offering more intuitive
and convenient payment experiences.
Construction company owners, accounts payable teams, buying
groups and others can now manage payments from the top of customer
hierarchies, distributing payments and credits across lower-level
accounts with ease.
The benefits extend to accounts receivable teams as well. Users
designate how their funds and credits apply, which saves accounts
receivable time and lowers the risk of errors. Additionally,
secure, self-service electronic payments can reduce risks for
exposing credit card and bank account information.
“This new offering makes it easier to facilitate a seamless
payment experience for our users, driving operational efficiency
and improved customer satisfaction,” adds Bectran CEO, Louis
Ifeguni.
Discover how to transform your accounts receivable processes —
visit Bectran.com to learn more and begin your journey today.
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
98%, reducing credit defaults and collection costs. Many businesses
rely on Bectran for efficient Accounts Receivable and Collections
management, achieving up to 95% 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 Nathaniel Stickman Content Writer
Bectran Inc312-637-3545 PR@Bectran.com