New partnership brings FTNI’s Integrated Receivables Hub, ETran, to F.A.B., Inc.’s growing membership base to help streamline AR operations while decreasing DSO.
OMAHA, Neb. (PRWeb) March 24, 2016 – Financial Transmission Network Inc. (FTNI), a provider of industry-leading integrated receivables solutions, today announced it has formed a strategic partnership with F.A.B., Inc. (Frosty Acres Brands) to become a preferred receivables processing provider to the national marketing and food purchasing cooperative’s growing membership base.
Recognized as a leading software and technology provider to the food and beverage distribution industries in 2015 by Food Logistics, FTNI’s integrated receivables hub, ETran, is already in use by numerous distribution companies across the U.S. and Canada, including a top ten U.S. foodservice distributor. This new partnership will deliver F.A.B., Inc.’s membership of independent foodservice distributors with access to a leading receivables platform that can accept, process and post remittance transactions across any payment method (check, ACH, credit and debit card, cash) from any payment channel (mailed-in, called-in, in-person, online, mobile), all on a single, cloud-based platform.
“We’re committed to providing our members with access to not only the highest quality national and private brands, but also leading technology providers,” said Philip Eakins, Chief Financial Officer at F.A.B., Inc. “FTNI’s track record of helping foodservice distributors streamline AR operations on a single platform is something we’re confident will provide great value to our members.”
ETran enables companies to quickly and easily configure the platform to their own business rules and requirements, simplifying and automating accounts receivables processes across any payment method or channel. Essentially a ‘plug-n-play’ platform, ETran enables efficient integration (batch or real-time) with any back-office accounting system and works with existing banking and merchant processor relationships. It unlocks enterprise-wide AR oversight from a unified interface to improve business insights, accelerate exception handling, and deliver real-time visibility into the entire receivables stream.
“We’re excited to partner with F.A.B., Inc. to bring their members a proven receivables processing solution that helps eliminate siloed AR systems and processes,” commented Zac Robinson, Director, Sales and Marketing at FTNI. “Foodservice distributors operate in a complex environment. Being able to consolidate traditional receivables operations such as check processing, on a single platform that can accept payments online and even via a mobile device in the field, is helping distributors rethink their receivables processes to increase cash flow and decrease DSO.”
About F.A.B., Inc.
F.A.B., Inc. is a national marketing and food purchasing cooperative, dedicated to aligning and unifying the sales, marketing, and procurement activities of its Members in order to produce sustainable growth and Member business wealth. F.A.B., Inc. provides high-quality national brands and private brands, such as Restaurant’s Pride®, to its Members. The F.A.B., Inc. cooperative is comprised of independent food distributors in the U.S., Canada, Puerto Rico, and Bermuda. Members of F.A.B., Inc. consist of broadliners, wholesalers, retailers, C-store distributors, system distributors, and center-of-the plate specialists. For more information about F.A.B., Inc. please call 1-800-569-4821, or visit www.frostyacres.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 hub, 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 18,000 corporate users from leading organizations such as the American Red Cross, Benchmark Senior Living, DirectBuy, Five Star Senior Living, Mutual of Omaha, Penn Mutual, Physicians Mutual Insurance, Proxibid, RealPage, Shamrock Foods, The McClatchy Company and many more. For more information, visit www.ftni.com.
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