Largest Purveyor of Specialty Fasteners and Aftermarket Automotive Body Hardware Rolls Out Integrated Receivables Solutions from FTNI; Led by New Online Payment Options for Auveco Customers.
OMAHA, Neb. January 5, 2023 — Financial Transmission Network Inc. (FTNI), a provider of industry-leading accounts receivable automation, payment processing and cash application solutions, today announced that Auveco, a leader in the specialty automotive fastener and body hardware aftermarket, has launched several new customer-facing and back-office payment processing and cash application solutions, headlined by convenient online payment capabilities for Auveco customers.
Founded in 1916, Auveco has been the leader in the Automotive Aftermarket Fastener industry for over a century. As the industry continues to change, Auveco continues to empower its employees to serve the customer with the highest standards of excellence, pledging a commitment to complete customer satisfaction with its products and service, backed by a 100% guarantee. First produced in 1921, Auveco’s product catalog is regarded as the “Encyclopedia of the Automotive Body Hardware Industry.” The latest edition features over 900 pages of full-color, actual size pictures, complete specifications and dimensions for over 23,000 parts.
The launch of Auveco’s new Online Payment Portal will deliver Auveco customers with convenient, secure, online payment options. Auveco customers will enjoy the ability to view and pay their open invoices within an easy-to-use payment portal that features a fully-responsive design to ensure a user-friendly experience via any device. Dependent on customers’ unique payment terms, the new online payment portal can accept payments made via ACH or credit card.
“Giving our customers the ability to view and pay open invoices online, in a secure and compliant manner, is something we have been working towards for quite some time,” said Karen Goins, CFO, Auveco. “We are excited to work with FTNI on the launch of our convenient, easy-to-use, online payment portal—especially with the ongoing importance of giving customers easy, safe, contactless ways to pay.”
Within its back-office accounts receivable (A/R) operations, Auveco will also utilize ETran’s advanced lockbox processing, and cash application solutions to help internal A/R personnel streamline the matching of check payments accepted within its lockbox operations with open customer invoices, and automate the transmission of payment and remittance data for cash application within Auveco’s back-office systems.
ETran’s highly-configurable, modular design allows organizations to efficiently tailor the platform to their unique business processes and workflows to modernize and automate payment processing and back-office cash application operations across all payment methods and channels. ETran’s agnostic, ‘plug-n-play’ nature works with customers’ existing banking and merchant processor relationships and supports efficient integration (batch or real-time) with any back-office system.
“We are pleased to have the opportunity to partner with the team at Auveco as they not only launch new online payment options for their customers, but also modernize their back-office A/R operations with intelligent invoice matching and cash application automation solutions, as well,” said John Karhoff, vice president of sales, FTNI. “Auveco is a well-known leader within their respective piece of the broader distribution marketplace, and we look forward to continued collaboration and growth from this exciting partnership.”
Founded in 1916, Auveco has become one of the predominant providers of automotive fasteners to the body hardware aftermarket as well as general industrial fasteners used in maintenance, repair, and operations applications within North America. The Company sells to thousands of wholesale distribution customers who subsequently service hundreds of thousands of collision centers, repair shops, dealerships, and general manufacturers located throughout North America. For additional information, please visit auveco.com.
Financial Transmission Network, Inc. (FTNI) accelerates the way businesses accept, process, post and manage payments. Processing millions of transactions monthly, FTNI’s accounts receivable automation platform, ETran, accepts any payment method, via any payment channel—all on a single, secure, cloud-based platform. ETran seamlessly integrates current business processes, bank and merchant processor relationships, and back-office systems to modernize and automate payment processing and cash application operations. Founded in 2007, FTNI serves more than 20,000 corporate users from over 1,000 customers spanning numerous industries including Banking and Financial Services, Distribution, Insurance, Nonprofit, Property Management, Realty, Utilities, and more. For more information, visit ftni.com.
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