Bectran Rolls Out a New Multi-Layered Waterfall Model for Automated Credit Decisions
August 06 2024 - 1:11PM
High request volumes form bottlenecks for credit departments.
Officers need to move quickly, but doing so often compromises
effective risk management.
Bectran, Inc., the go-to order-to-cash platform for streamlined
risk management, helps departments improve their approach with an
Instant Decision Manager (IDM). Pulling in customer histories,
credit reports, fully-customized criteria and more, IDM
automatically matches and approves the right customers, giving
departments the edge they need for more effective risk strategies
while streamlining work and reducing human error.
Already setting a precedent for the industry, Bectran has now
gone a step further. The platform has introduced a waterfall
sequence for evaluating multiple scoring models and criteria in
IDM, giving credit departments deeper control for automatic
approvals and stronger tools for managing their risk portfolios,
especially when request volumes grow.
“Our priority is helping departments make more strategic
decisions,” Louis Ifeguni, Bectran CEO, comments. “IDM already
gives teams a powerful tool for efficiency and risk management. The
waterfall approach introduces another level of Bectran empowering
departments to tailor their decisions to their growth needs.”
How It Works
With the waterfall approach built into IDM, users configure a
set of approval models, assigning each a priority level. The models
run in sequence, from highest to lowest priority, while pulling and
evaluating a range of real-time data — from bureau ratings to
bankruptcy filings. The process results in complex, far more
human-like decision capabilities.
IDM automatically approves any request that matches a model in
the waterfall sequence. A match also stops the sequence, saving
organizations from redundant data pulls. Potentially risky requests
that fail to match a model or that match a disqualifier anywhere in
the waterfall will be flagged for manual review. The system makes
the pulled data, reports, ratings and relevant historical
information available to creditors to streamline reviews.
What It Means
IDM’s nuanced decision-making within the new layered approach
gives businesses unparalleled control in tuning their automated
approvals. Multiple models mean users can tightly fit approvals to
their departments’ risk strategies, and the prioritized cascade
gives transparency to the process. Organizations leveraging this
latest IDM feature can count on further streamlining their
high-volume approvals.
When paired with closely tuned automatic approvals, manual
reviews take on an additional strategic dimension. Making the IDM
waterfall more risk-averse, for instance, gives officers room to
embrace growth opportunities that would otherwise have posed
uncertain riskiness for the department. Ultimately, the enhanced
IDM enables more efficient approvals, giving creditors more time to
focus on strategic customers.
“The IDM waterfall strategy,” adds Ali Kidwai, Product &
Implementation Manager, Bectran, “lets departments effectively
automate approvals in a fine-tuned way that mimics human behavior
at scale to make optimal risk decisions. Businesses get more
control over their approvals, scaling their strategies to automate
higher request volumes.”
Learn more about Bectran’s Instant Decision Manager and what it
can do for your business at Bectran.com — and schedule your demo to
see it in action.
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.
Nathaniel Stickman
Content & Copywriter
Bectran Inc
312-637-3545
PR@Bectran.com