Rochester, NY (PRWEB) May 02, 2013
Albany Distributing, a leading North American wholesale distributor of consumer electronics, voice, and converged communications products, started offering eCheck payment processing in February 2011. Always looking for ways to streamline the operation, Albany Distributing added eCheck payment processing to reduce the amount of fees paid to credit card companies. Two years after offering the eCheck payment processing option, Albany Distributing has saved over $50,000 in processing fees and more than $22,000 in employee-related expenses while simplifying their accounts receivables process.
Looking for a solution to lower the amount of fees paid to credit card companies and reduce overall company expenses, electronic check processing looked appealing. Albany Distributing began offering eCheck payment processing, also known as ACH (Automated Clearing House) transactions, in February 2011. In that year alone, the company saved an average of $18,887 in processing fees with this option. An added bonus was that by offering eCheck payment processing, the accounts receivables improved resulting in a reduction of accounting-related employee expenses.
“With eCheck, we can electronically debit a customer’s bank account through ACH for a low transaction fee of $0.30 instead of the traditional 1.9% to 2.4% rate that credit card companies charge,” explains Gerry Manzari, CEO of Albany Distributing. “For example, if a customer’s total is $1000 and pays with a credit card, we would have to pay our merchant processor an amount ranging from $19 to $24. With eCheck payment processing, we nearly eliminate the credit card transaction fees since we pay just 30¢ per transaction regardless of the sale amount,” adds Manzari. The acceptance of electronic checks has saved Albany Distributing thousands of dollars weekly and ACH payments have simplified the accounts receivable process. Payment processing and reporting is also much more streamlined as a result. Manzari reports, “ACH transactions allow my company to take advantage of increased speed and efficiency of electronic transactions. ACH has allowed us to improve customer service and cash management operations and capabilities, since we no longer resort to the old and slow ways of conducting business of sending checks through the USPS system.”
The company still offers traditional credit card payment options but converts as many credit card users to eCheck as possible due to the many advantages. “In 2012, we saved over $34,400 through eCheck processing,” Manzari says. The amount of actual savings year-over-year is nearly double than the first year the payment option was offered. Plus, Albany Distributing has saved an additional $22,000 in accounting-related employee expenses over the two-year period since the eCheck process eliminates many of the manual tasks of matching payments to invoices, reconciling differences, and chasing underpayments.
To learn more about Albany Distributing or specifics on how eCheck has improved their bottom line and streamlined their operations, contact Gerry at 315-712-0200, gmanzari(at)albanydistributing(dot)com, or visit the http://www.albanydistributing.com website.
About Albany Distributing
Albany Distributing is a leading North American wholesale distributor of consumer electronics, voice, and converged communication products, offering more than 15,000 products from more than 450 brand name manufacturers. For more information, call the toll free sales number at 800-296-0820 or visit the Albany Distributing website. Albany Distributing is a subsidiary of Five Star Choice, LLC.