Leading Distributor and Marketer of Hispanic and Specialty Food Products Implements Several Modules of FTNI’s Truly Integrated Receivables Platform, ETran.
OMAHA, Neb. (PRWeb) September 23, 2019 – Financial Transmission Network Inc. (FTNI), a provider of industry-leading integrated receivables solutions, today announced Diaz Foods, one of the largest distributors of Hispanic food products in the United States, has launched its ETran Integrated Receivables platform to deliver the distributor with advanced Remote Deposit Capture (RDC), AutoPay, Online and Mobile Payment solutions.
Headquartered in Atlanta, Georgia, Diaz Foods was formed in 1980 and has grown into one of the largest specialty foods distributors in the United States, serving more than 6,000 customers in 29 states. With over 400 employees, and consistent annual growth of 20-30 percent, the company maintains approximately a half a million square feet of office and warehousing space to support its expansive distribution network. Diaz Foods stocks over 6,000 items of which 85 percent are imported from South America, Central America, Mexico, the Caribbean, Spain, China, South Korea, Thailand and India.
Having added 40+ new distribution customers to the ETran platform in the past three years, FTNI’s momentum as a leading provider of truly integrated receivables solutions to the foodservice, beverage, produce, janitorial & sanitation supply, and wholesale manufacturing sectors continues to grow at an exciting rate. Used by leading companies across the U.S. and Canada spanning numerous industries, ETran has been proven to accelerate processing times by as much as 80 percent and reduce DSO by more than four days.
A member of Frosty Acres Brands, Diaz Foods has implemented numerous ETran modules within its accounts receivables (A/R) operations, including ETran’s advanced RDC module to streamline check processing operations; ETran AutoPay to facilitate the automated drafting of ACH payments based on customers’ unique payment terms; ETran Mobile to enable Diaz’s field representatives to securely accept check and ACH payments in the field; and ETran’s Fully-hosted Online Payment Portal—available in both English and Spanish—to deliver customers with convenient self-service online payment options. Diaz Foods also leverages ETran’s straight-through processing capabilities which automate the cash application of remittance information and associated payment data into its back-office ERP/accounting system(s), greatly reducing manual cash application efforts.
“Implementing FTNI’s ETran platform has helped us become more efficient within our internal A/R operations and deliver our customers with new, highly-convenient payment options,” said Eric Newberg, CFO at Diaz Foods. “With the addition of ETran, we gained the flexibility and oversight necessary to streamline our receivables processing across our thousands of customers, deliver new online payment and autopay options, and add mobile payment capabilities for our representatives to accept customer payments in the field. The ability to consolidate and manage virtually all our receivables on a single platform that also speeds the cash application process has made this a very exciting solution for our company.”
ETran’s highly-configurable, modular design allows A/R organizations to efficiently tailor the platform to their unique business processes and workflows to modernize payment processing operations across all payment methods and channels, from a single platform. ETran’s agnostic, ‘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.
“For over 12 years, FTNI has remained committed to developing and delivering our customers with user-friendly, highly-configurable, integrated receivables processing solutions delivered from single, cloud-based platform,” commented John Karhoff, director of sales at FTNI. “We are very excited to work with the team at Diaz Foods as they evolve and expand their receivables operations on our ETran platform.”
About Diaz Foods
With over 400 employees, and consistent annual growth of 20-30%, Diaz Foods has grown into one of the largest Hispanic and specialty foods distributors in the United States. Serving more than 6,000 customers in 29 states, the company maintains approximately a half a million square feet of office and warehousing space to support its extensive distribution network. This includes the Atlanta corporate headquarters, the Washington DC distribution center out of Manassas, VA, the New Jersey distribution center in Saddle Brook, NJ, and space at the State Farmer's Market in Forest Park, GA, for Diaz Produce. To learn more, visit diazfoods.com.
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 over 1,000 leading companies spanning numerous industries including Banking and Financial Services, Distribution, Insurance, Nonprofit, Property Management, Utilities, and more. For more information, visit ftni.com.
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