Fintech News Desk
Credit, Collections & Accounts Receivable Software leader Bectran, Inc. has partnered with NCS Credit to release the industry-leading UCC (Uniform Commercial Code) Filing solution. This solution eliminates the time spent initiating the UCC filing process through the direct transmission of UCC filing data in digital format to NCS Credit from the Bectran platform.
“Bectran’s catalog of third-party process and data integration services are designed to simplify day-to-day credit management tasks through automation. Eliminating the manual data entry associated with current methods of UCC filing allows our customers to maximize process productivity and deliver faster credit processing turnaround time”
Traditional methods of initiating UCC filing are tedious and time-consuming, requiring external navigation to the UCC services provider site and the submission of multiple documents. This manual process becomes prohibitively more time-consuming and expensive for companies with very high volumes of credit transactions. The delays caused by manual processing often prolong the approval of new customer lines of credit, extending the order-to-cash cycle and potentially damaging customer relationships. It is worth noting that abstaining from UCC Filing prevents creditors from establishing themselves as a secured party, inhibiting their ability to recover their exposure from debtor assets in the event of a credit default.
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The Bectran UCC Filing solution delivers significant process improvements through integration and task automation. Bectran automatically aggregates all the information required to file a UCC from multiple data points on a customer account using pre-configured UCC Filing data aggregation templates. This information is transmitted directly from the customer account to NCS Credit, where the preparation and maintenance of the UCC filings are handled before retransmitting all relevant UCC detail back to Bectran. Bectran’s UCC Filing Solution was designed to fit seamlessly into business’ new customer onboarding workflows without disrupting current operations.
Supporting Quotes
“Bectran’s catalog of third-party process and data integration services are designed to simplify day-to-day credit management tasks through automation. Eliminating the manual data entry associated with current methods of UCC filing allows our customers to maximize process productivity and deliver faster credit processing turnaround time,” said Louis Ifeguni, CEO of Bectran.
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“Businesses are fraught with staffing challenges,” said Mary Cowan, president of NCS Credit. “In today’s labor market, reducing your staff’s workload is paramount. NCS is easing the stress on credit departments through industry-leading technology and strategic partnerships such as this. We work with our clients to arrive at an ideal solution, deliver it seamlessly, and support it unconditionally. And there is always someone to answer questions. We have the capacity and expertise to ensure you are in the best possible position to get paid.”
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