Having visibility into payment status allows us to be more proactive about potential customer issues, enabling us to open lines of communication and avoid disputes.
San Francisco, CA (PRWEB) October 06, 2016
Sourcery, a digital payments and commerce platform focusing on the the food and hospitality industry, today announces the official launch of its accounts receivable solution. Extending the benefits of the company’s buy-side cash flow management solution to vendors who receive payments through the platform, the new offering debuts following successful pilots with on-demand distributor Restaurant Cheetah and Oregon-based Smith Teamaker.
Sourcery’s AR solution, developed in partnership with Restaurant Cheetah, directly addresses challenges throughout suppliers’ accounts receivable processes. The SaaS platform organizes and automates across the workflow, driving significant reductions in labor expenses and missed payments. Additionally, Sourcery makes it easier to transfer vendors’ customers to ACH and reduce processing fees for both credit cards and ACH payments.
“Sourcery has quickly become an invaluable extension of our AR team, saving us on both man hours and processing costs,” stated Stephen Shapiro, Restaurant Cheetah’s director of operations. “We’ve also found that having visibility into payment status allows us to be more proactive about potential customer issues, enabling us to open lines of communication and avoid disputes.”
Fast-growing specialty tea vendor Smith Teamaker has also felt the benefits. "Sourcery has provided an intuitive system for managing payments, allowing us to offer our customers an easy ACH payment option,” explains Jayna Martin, Controller at Smith Teamaker. “We're looking forward to what's in store as they continue to grow the platform."
Sourcery, whose SaaS technology serves businesses from local restaurants to multi-location chains and corporate kitchens at companies like Dropbox, Airbnb and Thumbtack, is on track to process more than $100M in business-to-business payments in 2016. The addition of accounts receivable is part of the company’s longer-term platform enhancement strategy, funded by a recently-closed $5M venture round.
Sourcery is a digital payments and commerce platform created to help restaurants, commercial kitchens, food retailers and other hospitality-industry businesses manage finances easily and paperlessly. Serving customers such as Snap Kitchen, Elephants Deli. The Absinthe Group, Au Bon Repas and the corporate kitchens at Thumbtack, Dropbox and Airbnb, Sourcery's easy-to-use invoicing and accounts payable technology offers real-time visibility for spend and cash flow management, enabling customers to better manage costs and increase profitability. Founded in 2012, Sourcery is privately held and based in San Francisco. For more information visit http://www.getsourcery.com.