CHICAGO, March 28, 2024 (GLOBE NEWSWIRE) — Bectran, Inc., the industry leader in credit, collections, and accounts receivable management technology has announced a new collaboration with NCS Credit, a renowned provider of Mechanic’s Lien, UCC, and collections solutions. This partnership unveils an innovative Mechanic’s Lien integration solution tailored specifically for construction professionals, providing users with a streamlined approach to safeguard their projects and efficiently submit notice and Mechanic’s Lien information.
“This initiative marks a pivotal step forward in minimizing financial risk and ensuring that every stakeholder in the construction process can operate with the highest degree of security and efficiency,” remarks Bectran CEO, Louis Ifeguni. “Together, we’re setting new standards for excellence in credit management.”
Transparency in Lien Management
Focusing on the critical role of secured transactions in construction and supply distribution, it’s clear that minimizing risk and ensuring the security of payments is paramount. The failure to properly notify required parties or file a Mechanic’s Lien correctly can lead to significant financial risk, including the possibility of defaults, which could jeopardize the financial health of businesses involved. This underscores the necessity for a streamlined and accurate approach to managing preliminary notices and Mechanic’s Liens, where every detail—from job submission to filing and tracking—is handled with precision.
Bectran and NCS introduce an automated solution designed to transform the way that preliminary notices and Mechanic’s Liens are filed and managed, directly addressing the challenges of risk minimization and the high costs associated with potential defaults. By automating the notice, lien filing and construction project tracking process, Bectran helps reduce the margin of error associated with manual entries and data misalignment, ensuring that initial project data is transmitted to NCS accurately and on time.
“Partnering with Bectran on this initiative was another huge step in the journey toward helping our clients reduce redundancy and improve productivity. NCS continually explores technology partnerships that align with our clients’ goals to improve efficiency and effectiveness across both credit and collection departments.” – Adrian Segedy, Director of Sales, NCS Credit
Our integration with NCS Credit will allow Bectran’s customers to submit preliminary lien notices to NCS directly through our platform, eliminating redundancy and duplicate entry. Bectran’s detailed reporting features provide transparency on every aspect of the initial preliminary lien notice request, including submission specifics, project IDs, and request type. This visibility fosters accountability and a comprehensive audit trail.
Bectran’s integration with NCS Credit simplifies the preliminary notice and Mechanic’s Lien management process, improving oversight of the construction payment chain. This capability ensures that credit professionals and construction managers are well-informed throughout the project lifecycle, reducing the risk of financial loss.
With Bectran’s automation and detailed reporting, businesses can protect their financial interests, lower default risks, and enhance control over construction finance operations. This represents a significant industry advancement, offering a streamlined and reliable approach to initiating preliminary notices and reducing overall project complexities.
For more information and to streamline your lien tracking, visit Bectran.com
About NCS
NCS Credit is the industry’s only full-service provider. From UCC filings and mechanic’s liens to commercial collections, we have it all under one roof. Powered by our knowledgeable staff and fueled by technology, NCS will simplify your current process and deliver a best-in-class client experience. With unparalleled industry expertise, we understand the complexities of commercial credit. We believe everyone should get paid for the work they do!
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 90%, reducing credit defaults and collection costs. Many businesses rely on Bectran for efficient Accounts Receivable and Collections management, achieving up to 60-90% 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.
Media Contact
Lilly Filippov
312-637-3545
PR@Bectran.com