Bectran Partners With NCS Credit to Deliver Credit Teams an Integrated UCC Filing Solution

Bectran Partners With NCS Credit to Deliver Credit Teams an Integrated UCC Filing Solution for Asset-Backed Credit Quality Monitoring

CHICAGO–(BUSINESS WIRE)–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.

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.

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.

“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.

“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.”

View Press Release Here

Most Recent Resources

Blog

Failure to Use the Proper Forms Can Prevent Perfecting Your Security Interest

When preparing documentation to perfect a UCC filing, the requirements may not be too complex, but you must strictly follow the requirements.
Read More
white paper
White Paper

NCS Lien Index 2022 Q2

The Lien Index decreased 8 points in Q2 2022, a 19% drop over Q1 2022. Despite the significant drop in mechanic's lien filings in Q2, the overall activity level is average for this time of year; nearly no change year over year.  In fact, the anomaly over the last 18 months was Q1 2022, when mechanic's lien activity hit its highest point since Q3 2020. Download the full report for details.

Read More
conference
Conference

NACM Connect Chicago Credit Conference

Visit the NCS Credit booth at the NACM Chicago Credit Conference at the Meridian Banquet & Conference Center in Rolling Meadows, IL.
Read More