FTNI & Datamatics Implement Lockbox for The McClatchy Company’s Newspaper Group
Written by: FTNI Admin
McClatchy streamlines its receivables processing and reduces cost with technology from FTNI and operational expertise from Datamatics.
OMAHA, NE. / Livonia, MI – September 2, 2014 - When Datamatics Corporation went looking for a state of the art receivables solution to fillout its technology portfolio, it found Financial Transmission Network Inc. (“FTNI”), a leading provider of integrated receivables management had the best offering available in the market. Working together, they were able to offer The McClatchy Company a turnkey solution that allowed the well-known media company the opportunity to upgrade technology, outsource business processes and reduce costs across its coast to coast newspaper group.
Subscriber, Advertising, Dealer and Single Copy remittances are sent to one of several Datamatics Operations Centers, where they are opened, scanned, reviewed and uploaded to FTNI’s secure hosting facility. Utilizing FTNI’s cloud-based ETran platform, walked-in payments, including credit card, check, ACH or cash are accepted at McClatchy office locations. Each location has a view to each day’s activity for its newspaper, while regional offices can see all activity in the region and McClatchy corporate can oversee processed payments in real time. Check and ACH items are electronically deposited each day, credit and debit cards are authorized in real-time and settled at the end of the day and cash payments are reconciled. Each newspaper may have up to four separate posting files, for each line of business, and those are automatically exported into McClatchy’s varied back office A/R systems for posting. Oversight of in-process payments and retrieval of archived items are available through ETran on a 7×24 basis.
FTNI’s SaaS-based payment processing platform incorporates check scanning, ACH origination, credit card processing and cash posting, on a single, PCI-compliant platform to help clients reduce costs, accelerate timelines and improve transaction processing quality. FTNI’s unique solution lends itself to add yet another piece to Datamatics mission of providing end-to-end payment processing.
“In working through the transition process, Datamatics and FTNI were both very responsive to our needs. They exemplified a solution based approach, their experience and professionalism showed throughout the process.” commented Camilo Guarin, Process Manager for McClatchy SSC.
Kurt Matis, CEO of FTNI commented, “FTNI and Datamatics both focus on providing world-class automation solutions to their clients’ accounts receivable processes. By combining our award-wining software with Datamatics operational expertise we increase the benefits companies gain from outsourcing lockbox processing. We’re excited to add another well-known name to our growing list of customers who enjoy the benefits of secure and efficient electronic payment processing.
About The McClatchy Company
The McClatchy Company is a leading news and information provider, offering a wide array of print and digital products in each of the markets it serves. McClatchy’s operations include 29 daily newspapers, community newspapers, websites, mobile news and advertising, niche publications, direct marketing and direct mail services. The company’s largest newspapers include the (Fort Worth)Star-Telegram, The Sacramento Bee, The Kansas City Star, the Miami Herald, The Charlotte Observer andThe (Raleigh)News & Observer. McClatchy is listed on the New York Stock Exchange under the symbol MNI.
Financial Transmission Network, Inc.’s (FTNI) ETran platform incorporates remote deposit capture (check scanning), ACH, credit card processing and cash posting, on single, managed platform to help clients reduce costs, accelerate timelines and improve transaction processing quality. The Company’s cloud computing based software enables customers to setup recurring payments (ACH & credit card), message between users and provide custom integration into back offices systems, thereby reflecting the payment activity in the merchant’s receivables system. This technology offers merchants a turn-key, single-payment platform in a software-as-a-service (“SaaS”) environment that is fully PCI-compliant, thereby eliminating the hardware and software costs associated with traditional solutions. Due to its modular approach and easy deployment, the ETran platform can be deployed in a variety of verticals and customized easily to fit the end-users needs. For more information, visit www.ftni.com.
Datamatics is a trusted partner to several Fortune 500 Companies globally for managing their End-to-end Application Life Cycle & Business Critical Processes. Datamatics is a global Information Technology (IT) and Business Process Outsourcing (BPO) organization focused on delivering smart, next-generation business solutions that help enterprises across the world overcome their business challenges. These solutions leverage innovations in technology, knowledge of business processes, and domain expertise to provide clients a competitive edge. For more information, visit www.datamatics.com.