“Ultimately the acceleration of days-to-deposit was the driving factor, and with ETran we realized a 60% reduction in time.” -- Curt Becker, Javlin Capital
Omaha, Neb. (PRWEB) June 10, 2015
Financial Transmission Network Inc. (FTNI), a leading provider of integrated payment processing solutions, and Javlin Capital, an established specialty finance firm, announced today the successful implementation of FTNI’s ETran integrated receivables hub.
Serving businesses looking for capital partnerships — operating from eight locations across the U.S. — Javlin has deployed approximately $350 million since 2011. Facing strong growth and an expanding scope of partnerships and operating locations, Javlin sought an integrated receivables processing solution to address inefficient and expensive check-based remittance operations.
“We wanted additional oversight of the accounts receivables processes, along with tighter controls …to speed up the time from receipt of checks to depositing the funds,” said Curt Becker, Managing Director, Javlin Capital. “Ultimately the acceleration of days-to-deposit was the driving factor, and with ETran we realized a 60% reduction in time.”
ETran’s enhanced Remote Deposit Capture (RDC) module allows Javlin to realize significant savings without any changes to existing bank relationships or back office accounting software. Unlike traditional, disparate, standalone payment processing solutions, ETran’s easy-to-deploy, modular design seamlessly accepts any payment type (checks, ACH, credit & debit cards, cash) from any payment channel within a single interface — providing consolidated settlement, posting, reporting and reconciliation.
Having numerous office locations receiving and scanning check remittance information for distribution across multiple depository accounts, the implementation of a centralized receivables platform was key to preparing Javlin for future growth. The ETran receivables hub helps businesses implement more innovative, efficient and time saving AR processes. In Javlin’s case, the firm now easily directs funds electronically every day and tracks various settlement accounts with enhanced reconciliation.
“ETran provided four specific benefits. First, it accelerated cash flow substantially. Second, ETran streamlined operations across the board, removing complexity from the process. Third, it enabled us to automate the reconciliation process. And lastly, we have stronger controls and enhanced oversight with our partners,” commented Becker.
“Javlin’s use of ETran’s RDC module significantly reduced its days-to-deposit by streamlining legacy receivables processes and technology, and ultimately delivered enhanced oversight, flexibility and control over its processes going forward,” said Kurt Matis, president and CEO, FTNI. “As a result of this successful implementation, we’ve also recently rolled out ETran with several of Javlin’s partner firms. We’re proud Javlin chose FTNI as a key partner to provide them with a single receivables processing platform and look forward to working with Javlin through its future growth and successes.”
About Javlin Capital
Omaha, Nebraska-based Javlin Capital LLC uses operating and valuation expertise to invest in nuanced financial assets. Javlin targets investment opportunities in healthcare, real estate, consumer, and litigation finance receivables and loans. Since mid-2011, Javlin has deployed approximately $350 million in trade sizes ranging from $100,000 to $20,000,000. The firm now employs more than 55 professionals working from eight office locations across the U.S. For more information, visit javlincapital.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 16,000 corporate users from leading organizations such as the American Red Cross, DirectBuy, Five Star Senior Living, Golden Living, Mutual of Omaha, Penn Mutual, Physicians Mutual Insurance, Proxibid, RealPage, Shamrock Foods, The McClatchy Company and many more. For more information, visit ftni.com.