Credit, collections and accounts receivable management technology company Bectran Inc. has announced a new collaboration with NCS Credit, a 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,” said Bectran CEO Louis Ifeguni. “Together, we’re setting new standards for excellence in credit 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 are introducing an automated solution designed to direct address 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,” said Adrian Segedy, director of sales, NCS Credit.
Integration with NCS Credit will allow Bectran’s customers to submit preliminary lien notices to NCS directly through Bectran’s 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.
