November 18, 2024

Two-Factor Authentication for Credit Application Links

For added security in the credit application process, a new “Auth Type by App” is introduced with this update to enforce a two-factor verification login via email. This update will require customers to verify their identity before accessing the credit application page, ensuring that only the intended recipient can use the application link. Users will be able to configure the authentication type per application along with custom notification messages in account settings.

Users can choose to require customer verification by email in the Enable Two Factor Authentication for App field under the Advanced Configuration section. To find this, go to:

Account Settings > Organization > Business Group > Advanced Config

Users can customize message templates for their customers’ one-time code authentication. To find and configure these messages, go to:

Account Settings > Application Links & Message Templates > Message Template

Miscellaneous AR Data Reporting

This update offers increased report visibility and display functionality for AR users while significantly improving report utility. To enhance reporting at the invoice and account levels, users can now include miscellaneous data fields where applicable within internal reports.

All invoice and account level misc. attributes marked for reporting are added to the following reports:

Account

• Aging Summary
• Most Risky Accounts

Invoice

• Negative Invoice Balance
• Open Invoices
• Customer Invoices

For configuration of this addition, please reach out to your Platform Services representative.

Sortable Invoice Views in AR

To enhance user experience, we have implemented sorting options for the Open/Closed invoice and Open/Closed/On Hold sales order pages in B2B. The following attributes can be sorted in either ascending or descending order on their respective pages.

Open/Close Invoice

• Invoice #
• Sales Order #
• Purchase Order #
• Invoice Date
• Due Date
• Balance

Open/Closed/On Hold Sales Order

• Sales Order #
• Purchase Order #
• Sales Order Date
• Balance

Additional Collections Scoring Data Points

To bolster collections risk scoring accuracy and effectiveness, Bectran has introduced two new attributes to its collections scoring models. The first attribute, MAX DAYS PAST DUE, helps provide a more accurate assessment of a customer’s outstanding invoices by identifying and properly weighing long past due invoices. Unlike AVERAGE DAYS PAST DUE, which can dilute risk by averaging all invoices, MAX DAYS PAST DUE ensures that severely overdue invoices are properly accounted for, offering a clearer and more accurate risk profile.

The second attribute, % OF CREDIT LIMIT PAST DUE, allows users to adjust a customer's risk rating based on the percentage of their credit limit that is overdue. This enables a more dynamic and relevant assessment of credit exposure.

Both attributes are optional and must be manually activated in settings.  To enable these features, navigate to:

AR Settings > Scoring & Forecasting Model > Collection Scoring Model