"Not only that, but the efficiencies our internal AR team gains from having real-time visibility into the specific invoices that are being paid has been a huge win for us.” -- Brad Rubin, Senior Vice President, Ruby Wines
OMAHA, Neb. (PRWEB) February 27, 2018
Financial Transmission Network Inc. (FTNI), a provider of industry-leading integrated receivables solutions, today announced Ruby Wines Inc., a fourth generation family owned and operated wine and spirit wholesale distributor serving a growing list of customers in Massachusetts, has launched its ETran Integrated Receivables platform to deliver new online payment capabilities to its customers.
Celebrating the 85th anniversary of its establishment in 2018, Ruby Wines has been family owned and operated for four generations. The company features a portfolio of over 200 suppliers representing wines and spirits from around the world.
ETran’s cloud-based, modular design allows companies to efficiently and effectively accept any payment method from any payment channel. The platform has been proven to decrease distributors’ time-to-process by up to 80 percent and reduce DSO by more than four days. A leading provider of truly integrated receivables processing solutions to the foodservice and beverage distribution industries, FTNI has on-boarded 15+ new foodservice and beverage distribution customers in the past 11 months.
Ruby Wines will leverage ETran’s Fully-hosted Online Payment Portal to deliver its customers with convenient self-service online payment options featuring complete electronic invoice presentment and payment (EIPP) capabilities. ETran’s ability to provide real-time oversight of all online payments is helping Ruby Wines’ AR department identify and address exceptions earlier in the AR process, while also helping to simplify the posting of online payments into their back-office ERP system.
“Providing our customers with top-notch products and customer service has been a staple of Ruby Wines for 85 years,” said Brad Rubin, Senior Vice President at Ruby Wines. “By partnering with FTNI, we are able to continue this commitment by delivering our customers with an extremely easy and convenient way to make payments online while giving complete oversight into their outstanding invoices and payment history. Not only that, but the efficiencies our internal AR team gains from having real-time visibility into the specific invoices that are being paid has been a huge win for us.”
ETran’s highly-configurable nature allows AR organizations to quickly tailor the platform to their unique business processes and workflows to accelerate operations across all payment methods and channels, from a single receivables processing 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.
“We are thrilled to partner with Ruby Wines to help streamline their receivables operations and deliver online payment capabilities to their customers,” said John Karhoff, Director of Sales at FTNI. “Like Ruby Wines, many distributors are finding there are better ways to handle these once manual and time-consuming receivables processes. Implementing convenient, easy-to-use online payment capabilities with invoice presentment is a win-win for both businesses and their customers. We’re excited to add Ruby Wines to our growing list of distributors that are realizing the benefits of streamlining their payment processes on a single, truly integrated receivables platform.”
About Ruby Wines
Headquartered in Avon, Massachusetts, Ruby Wines is a family owned and operated fourth generation company featuring a portfolio of over 200 suppliers representing wines and spirits from around the world. Celebrating the 85th anniversary of its establishment in 2018, Ruby’s mission is to supply superior customer service and top rated products to its growing list of customers in Massachusetts. To learn more, visit http://www.rubywines.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 leading organizations spanning numerous industries including Banking and Financial Services, Distribution, Insurance, Nonprofit, Property Management, Utilities, and more. For more information, visit http://www.ftni.com.