About Louis Ifeguni CEO and Founder
A serial entrepreneur, Louis holds an MS in Computer Science from the University of Illinois at Champaign-Urbana and an MBA from Yale. In his early days, he consulted in finance for one of the then big 5 and presently a nonpracticing CPA.
I am very pleased and honored to write this introduction on behalf of my colleagues at Bectran. In my days as a credit manager at the then second largest global chemical company, I managed a portfolio of over 1,000 accounts and had to process about 10 credit applications every week. Incidentally, 80% of my portfolio were small to medium scale companies, a.k.a. 'Private Companies' and they do not share financial statements. My job required me to make good credit decisions on every credit application be it for new credits or credit limit increases for returning customers. Good credit decision would be a decision that would not result in bad debts.
As a fresh MBA from Yale at the time, I desperately looked for every opportunity to express my hard-edged Business and Finance skills to figure out the credit risk profiles of companies but I had limited numbers to play with because I barely had financial statements from my pool of customers. This situation left me no choice but to analytically derive credit risk profiles from mostly qualitative information: credit references, customer business profile, 'Hear/Say' and credit bureaus.
By far, my biggest challenge by no small measure, was having to manage paper flows. I am talking about financial statements, credit references, personal guarantees, credit applications, etc; all paper-based documents coming through the credit department's fax machine. My experience is typical of most credit managers be it in small, medium or large scale companies.
Our motivation at Bectran was to create a definitive tool that addresses everyday grungy credit management tasks through the digitization and automation of credit transactions processing. At the core of our platform is a fundamental design to help credit departments achieve speed, accuracy and risk minimization in trade credit processing. I am very confident that every credit department, no matter the size, will experience very quick and substantial gains by adopting the Bectran platform.
You can always reach Louis at email@example.com
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