FTNI In the News: Talking Electronic Payments and Integrated Receivables with Midlands Business Journal

Electronic payments continue to be a key focus for both B2C and B2B organizations as companies look to evolve their payment processing and accounts receivables capabilities—and supporting technology—to keep up with rapidly-changing customer payment preferences.

Recently, our Director of Sales & Marketing, Zac Robinson, sat down with the Midlands Business Journal to discuss the ongoing evolution of electronic payment technologies and the value of companies moving to a truly integrated approach that allows them to accept, process and post any payment method, from any payment channel; all from a single platform.

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Topics: mobile payments, online payments, integrated receivables, electronic payments

Moving Beyond Silos for AR Management

Originally published on PYMNTS.com on 4/1/2016.

In managing accounts receivables, corporate banking has been marked by inefficient processes and a “silo mentality.” FTNI, in a recent e-Book, offered up a roadmap toward embracing the cloud to eliminate isolated systems and processes.

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Topics: RDC, integrated receivables, Banks

Making AR Silos a Thing of the Past

Originally published on PYMNTS.com on 1/4/2016 

The movement toward electronic payments is an inexorable one, and even though it’s a foregone conclusion that technology lights the path toward speedier and more secure transactions, companies still lack a comprehensive way to track, and optimize, accounts receivable movements.

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Topics: Straight Through Processing, integrated receivables, Remote Deposit Capture

Put an End to AR Inefficiencies with True Integrated Receivables

Originally published in the "Payments at the Edge" eBook, a 2016 PYMNTS.com Report.

The time-tested routine of invoice and check within traditional B2B accounts receivables (AR) processes has officially been disrupted as the world races towards electronic payments.

Disrupted, yes. Dying, perhaps. But not dead. In fact, 93 percent of checks deposited as images in 2014 came from business customers.1 The ability to efficiently and cost-effectively manage check payments is still—and will continue to be—the foundation of a successful B2B AR organization.

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Topics: Straight Through Processing, integrated receivables

A Checklist for Identifying and Selecting True Integrated Receivables Solutions

2015 B2B ecommerce sales in the US are expected to exceed $780 billion1—twice as much as B2C ecommerce sales—and that number is only going to continue to rise. That’s a big opportunity. Are you ready for it?

Chances are, you’re not. About 70 percent of U.S. organizations are struggling to convert to electronic payments; 70 percent also do not have a standard format for remittance information2. In short, companies don’t have a complete solution—they’re using multiple legacy platforms to handle different payment types (like check, ACH, CC, cash) and different payment channels (mailed-in, called-in, in-person, online, mobile).

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Topics: Straight Through Processing, integrated receivables

The Growing Need for True Integrated Receivables Solutions

Believe it or not, people (and companies) are still using checks to pay their bills. In fact, in 2014, 93 percent of checks deposited as images came from business customers.¹

The time-tested routine of invoice and check within traditional accounts receivables (AR) processes has officially been disrupted as the world races towards electronic payments. Disrupted, yes. Dying, perhaps. But not dead.

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Topics: Straight Through Processing, check processing, RDC, integrated receivables, Remote Deposit Capture

Tearing Down B2B Payment Silos with Integrated Receivables Solutions

Originally published on PYMNTS.com on 10/20/2015.

For a corporate treasurer to be able to view all of his or her company’s receivables in a single look sounds like, in the words of MPD CEO Karen Webster, “manna from heaven.”

FTNI (Financial Transmission Network, Inc.) is turning that dream into a reality with its Integrated Receivables solution, which focuses on eliminating siloed payments within corporate organizations.

Can it work? Yes, provided — as Kurt Matis, President and CEO of FTNI, discussed with Webster — that a corporation has an understanding of its primary pain points and the patience to address them one at a time.

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Topics: Straight Through Processing, B2B Payment Processing, integrated receivables, Banks

Leveraging RDC to Prepare for the Future and Optimize the Present

Checks may not be the next new thing—in fact, check use is on the decline—but believe it or not, remote deposit capture (RDC) can help you drive strategic integration and streamline receivables processes within your organization.

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Topics: check processing, mRDC, RDC, Check Scanning

In the Cloud, Accounts Receivable is a Business Driver, Not Just a Cost Center

Originally published in Financial Operations magazine, Spring 2015 issue.

These days, when it comes to accounts receivable, change is the only constant. In 2013, 50 percent of B2B remittances were made by check—a 75 percent decrease from 2004. With automated AR, mobile purchasing, and web transactions all on the rise, the payments industry is seeing lots of change, and it’s not going to stop any time soon. 

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Topics: Straight Through Processing, integrated receivables

Leveraging RDC to Smooth The Path to Straight Through Processing

Originally published in Payments Business Magazine (May/June 2015 Issue)

Integrated Systems Lead to Faster Reconciliation of Checks, Which Means Lower Costs and Speedier Remittance

I am waiting for the day when I can pay for everything—groceries, trips, my mortgage—by waving my hand over a sensor on my watch. We’re moving in that direction; at some point, as the cost of smart phones drops and the technology for mobile payments catches up to consumers, technology will advance to the point that both making payments and reconciling remittances become swift and painless.

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Topics: Straight Through Processing, check processing, mRDC, RDC, integrated receivables, Check Scanning

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