OMAHA, NEB. – Financial Transmission Network Inc. (FTNI), a provider of industry-leading integrated receivables solutions, today announced Renzi Foodservice, one of the largest family-owned and operated broadline foodservice distributors in Northern and Central New York State, has rolled out its ETran Integrated Receivables platform to deliver the distributor with advanced Remote Deposit Capture (RDC) and Fully-Hosted Online Payment Portal solutions. Additionally, FTNI and Renzi are set to launch ETran’s mobile payment application in early Q1 2019.
FTNI’s momentum as a top provider of truly integrated receivables processing solutions to the foodservice, beverage and janitorial & sanitation distribution sectors continues to accelerate as the company has added 25+ new distribution customers in the past 18 months. Used by companies spanning numerous industries, ETran has been proven to decrease companies’ time-to-process by up to 80 percent and reduce DSO by more than four days.
Renzi Foodservice will soon leverage three of ETran’s most popular modules among FTNI’s distribution customers—advanced RDC, Fully-hosted Online Payment Portal and ETran Mobile. The ETran advanced RDC module helps Renzi’s internal A/R team to significantly streamline check processing operations, while ETran’s Fully-hosted Online Payment Portal delivers Renzi’s customers with convenient self-service online ACH payment options. ETran’s electronic invoice present and payment (EIPP) capabilities allow customers to securely select and pay their invoices in accordance with their payment terms. ETran Mobile will enable Renzi’s sales consultants in the field to conveniently and securely accept check and ACH payments on the go. Mobile invoice presentment options within the application will allow payments to be associated with the appropriate invoice(s) right on the spot. Additionally, Renzi will leverage ETran Mobile’s newest filtering solutions, allowing sales consultants to see only their owned accounts within the application.
Renzi will also benefit from ETran’s unique ability to deliver true straight-through processing to automate the posting and cash application of remittance transactions and associated transactional data into its back-office ERP system across each of the aforementioned payment methods and channels.
“The addition of FTNI’s ETran platform within our A/R operations has given us the flexibility and oversight to not only streamline our existing check-based receivables processing, but also extend new, convenient online payment options to our customers,” said John Renzi, president at Renzi Foodservice. “Putting ETran Mobile in the hands of our sales consultants starting in early 2019 is the next step, and we anticipate further reductions in DSO as we accelerate payment acceptance in the field. Gaining all of this functionality from a single platform that also speeds the cash application process in our back-office ERP, has been an exciting advancement for our A/R department.”
ETran’s cloud-based, highly configurable design allows organizations to quickly tailor the platform to their unique business processes and workflows to consolidate, automate and significantly streamline accounts receivables operations spanning any payment method (check, ACH, credit/debit card, cash), from any payment channel (mailed-in, lockbox, called-in, in-person, online, mobile), all from a single, easy-to-use user interface. ETran’s ‘plug-n-play’ nature works with existing banking and merchant processor relationships and supports efficient integration (batch or real-time) with any back-office system. All payment information is processed and stored on ETran’s fully compliant – PCI, HIPAA, SSAE 16 and more – Software as a Service (SaaS) platform.
“As we’re seeing with a growing number of businesses across numerous industries, the ability to consolidate and streamline existing check processing operations, along with being able to efficiently launch new payment channels such as online or mobile from a single platform, is transforming traditional A/R operations,” commented John Karhoff, director of sales at FTNI. “We have developed a great relationship with the team at Renzi and look forward to working closely with them as they grow their use of the ETran platform in the coming months and years.”
About Renzi Foodservice
Renzi Foodservice is a family-owned, UniPro-affiliated, broadline foodservice distributor servicing Central, Western and Northern New York State. Renzi’s commitment to service and dedication to its customers are the cornerstones to its ‘Delivering the Difference’ mission. As one of the largest family-owned and operated companies in Northern and Central New York, Renzi continues a strong tradition of being flexible to its customers’ ever-changing business needs. To learn more, visit renzifoodservice.com.
About FTNI
Financial Transmission Network, Inc. (FTNI) accelerates the way businesses accept, process, post and manage payments. Processing millions of transactions monthly, FTNI’s integrated receivables platform, ETran, accepts any payment method, via any payment channel—on a single, secure, cloud-based platform. ETran’s easy-to-deploy, modular design seamlessly integrates current business processes, bank and processor relationships, and back-office accounting software to deliver increased efficiencies and cost savings as a result of true straight-through processing. Founded in 2007, FTNI serves more than 20,000 corporate users from leading organizations spanning numerous industries including Banking and Financial Services, Distribution, Insurance, Nonprofit, Property Management, Utilities, and more. For more information, visit ftni.com.
