Industry Data Illustrates an Evolving B2B Payment Landscape and the Escalating Need for Integrated Receivables Solutions

The old saying goes, “If it ain’t broke, don’t fix it.”

This saying may be true for more than just a few things in life—your refrigerator, your car, your coffee maker, etc.—but your company’s accounts receivables operations (and the technology that supports it) isn’t one of them.

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Topics: integrated receivables, Banks, Remote Deposit Capture, B2B Payment Processing, Straight Through Processing

A Look Back at 2017; Growth, Partnerships and Setting the Standard for True Integrated Receivables

2017 was another successful year for our team here at FTNI, with record sales growth fueling the expansion of both our sales and marketing teams, as well as our development and customer service teams. The rewards of this exciting growth has come in several different varieties, including the addition of a record number of new customers added to our ETran Integrated Receivables platform, exciting new partnerships, and enhancements to multiple ETran modules and supporting features across the platform. 

In this post, we'll take just a few minutes to highlight some of our most popular and noteworthy announcements, enhancements and content from 2017. 

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Topics: integrated receivables, Straight Through Processing

From the Front Lines: Three Steps to Achieve Straight-Through Processing Leveraging RDC, EIPP and Recurring Payments on a Truly Integrated Receivables Platform

Remote deposit capture (RDC) of checks has many benefits—not least, reducing the manual labor required for processing, and ultimately posting checks into the appropriate back-office systems. That, in turn, can save you money. When you automate check processing using RDC, it’ll cost you between 10 and 20 cents per transaction (depending on monthly volumes)—significantly less than the $1 to $2 (or more) per transaction that traditional outsourced lockbox processing can cost.   Read More

Topics: Straight Through Processing, RDC, EIPP, integrated receivables

Transforming Insurance AR Operations with Truly Integrated Receivables Solutions

 If you’re an insurance company, your customers probably want to do everything online, from making claims to paying bills. Like the banking and healthcare industries, today’s insurance providers find themselves providing their customers with a bevy of different payment methods and channels—everything from ACH and pay by phone to online and mobile solutions.

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Topics: integrated receivables, Straight Through Processing, Insurance

True Integrated Receivables—Defined. How to Separate Truly Integrated Solutions from Dashboards.

We’re delighted to see that the topic of integrated receivables is receiving more attention from the industry these days, and as an early “preacher” of the benefits truly integrated platforms can deliver, we’re excited more companies are taking notice. But as the conversation continues to intensify surrounding these solutions, we can’t help but notice that there is a growing number of technology providers happy to say that they can provide integrated receivables solutions. But talking the talk is much different than actually walking the walk.

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Topics: integrated receivables, Straight Through Processing

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

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