Credit, Collections & Accounts Receivable Software leader Bectran, Inc. has released an enhanced solution to its automated risk evaluation and approval framework for construction project job sheet processing. Bectran’s Construction Project Job Sheet Management Solution will digitize and automate the approval process for construction projects while simultaneously identifying and managing credit and performance risk. The solution utilizes industry- and business-specific risk criteria to evaluate and approve project job sheets automatically, eliminating wasted time while ensuring data accuracy. The solution leverages robust risk management models to evaluate in real-time both credit and performance risk.
Presently, the industry standard for construction project job sheet management is predominantly manual and paper based which does not guarantee completeness or accuracy and leaves companies open to increased risk of delays, inaccurate results, and inefficient time usage. Additionally, these legacy systems cannot integrate with external data sources, making the assessment of performance and credit risk a tedious and time-intensive process. Above all, manual project risk management systems cannot effectively scale to support high transaction processing environments, often resulting in process abandonment with huge associated costs.
Bectran’s Construction Project Job Sheet Management Solution provides a digitized, scalable, user-friendly and comprehensive work process with a robust configurable automation framework. The digital framework facilitates the end-to-end management, monitoring, and reporting of construction project jobs across multiple industries. With capability for real-time data aggregation, Bectran’s solutions provide actionable insights that propel data-driven approval decisions, reducing the probability of default and increasing the propensity for repayment.
“We built the Construction Project Job Sheet Management Solution to bridge a much-needed productivity and risk management capability gap in the HVAC industry. We have continued to extend and enhance the solution to address intricate processing nuances across various industry segments. This product enhancement has been another major advance to reach the goal,” said Louis Ifeguni, CEO of Bectran.