Ferraro Foods to Launch New Online and Mobile Payment Capabilities Powered by FTNI

OMAHA, Neb., April 2, 2019 /PRNewswire-PRWeb/ -- Financial Transmission Network Inc. (FTNI), a provider of industry-leading integrated receivables solutions, today announced Ferraro Foods, a family owned Italian Food distributor headquartered in Piscataway, New Jersey, has selected its Fully-hosted Online Payment Portal and Mobile App to deliver increased security, convenience and efficiencies across its Accounts Receivables (A/R) operations. FTNI and Ferraro Foods are on pace to launch these new services early in Q2 2019.

Established in 1975, Ferraro Foods serves over 3,500 customers spanning 16 states in the Eastern U.S. from its two distribution centers in Piscataway, New Jersey and Mebane, North Carolina, and new facilities in Maryland and New England. A member of UniPro Foodservice, Ferraro Foods's state of the art fleet has grown to over 120 tractor trailers, transporting not only products designated for the Italian trade, but over 8,000 items that cater to several different concepts and restaurant establishments.

A leading provider of truly integrated receivables processing solutions to the foodservice, beverage and janitorial & sanitation distribution sectors, FTNI supports the A/R operations of a fast-growing number of distributors serving customers across every state in the U.S. and several regions in Canada. FTNI's distribution customer base continues to expand at rapid pace, adding over 30 new distribution clients in the past 24 months.

Ferraro's launch of the ETran platform will bring new online and mobile payment acceptance capabilities and benefits to Ferraro's customers and internal A/R operations. Through the use of ETran' s Fully-hosted Online Payment Portal, Ferraro Foods' customers will gain access to convenient, self-service ACH and credit card payment options. Following initial account registration, confirmation and log-in, Ferraro customers are able to view and select electronic versions of their invoices for payment. Customers also have the option to schedule future payments based on invoice due dates for additional convenience.

Ferraro will also be leveraging ETran's Mobile Payment App to enable employees in the field to securely accept check, ACH and credit card payments on the go. Easy-to-use mobile invoice presentment options within the application will allow payments to be associated with the chosen invoice(s) right on the spot—significantly streamlining Ferraro's back-office cash application operations.

ETran's true straight-through processing capabilities will deliver Ferraro's internal A/R operations with significant efficiencies as a result of the automated posting and cash application of remittance transactions and related transactional data into its back-office ERP system.

"Our customers have expressed growing interest in the ability to pay online, and we are excited to be able to deliver them with the proven convenience and security of an industry leading online payment experience," said Thomas Recine, COO at Ferraro Foods. "Our use of ETran Mobile by our representatives in the field will allow us to securely accept and accurately associate payments to open invoices on the fly—with the ultimate focus on decreasing DSO and driving additional operational efficiencies throughout our A/R operations."

ETran's cloud-based, highly configurable design allows organizations to quickly tailor the platform to their unique business processes and workflows to consolidate, automate and significantly streamline A/R operations spanning any payment method, from any payment channel, all from a single, easy-to-use user interface. ETran works with existing banking and merchant processor relationships and supports efficient integration (batch or real-time) with any back-office system to deliver on the promise of true straight-through processing. All payment information is processed and stored on ETran's fully compliant – PCI, HIPAA, SSAE 16 and more – Software as a Service (SaaS) platform.

"Ferraro Foods is yet another great example of a leading modern distributor making the commitment to expanding their existing payment processing capabilities," commented John Karhoff, director of sales at FTNI. "But as many distributors know, accepting payment from a customer is many times just the first step in what can often be a labor-intensive, error-prone, posting and cash application process. Our ETran integrated receivables platform aims to tear down the silos that have historically hindered A/R departments—replacing those legacy systems with a single, seamlessly integrated solution. We're excited to partner with the team at Ferraro Foods as they grow their use of the platform now and in the years to come."

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About Ferraro Foods

Ferraro Foods is a family owned Italian Food distributor headquartered in Piscataway, New Jersey. Founded in 1975, Ferraro Foods services over 3,500 customers spanning 16 states across the eastern U.S. Ferraro's dedicated in-house customer service staff and an active sales force in the field are individually assigned to each customer, providing a level of personalized service rarely seen in the industry. To learn more, visit http://www.ferrarofoods.com.

About FTNI

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—all 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 ftni.com.

SOURCE Financial Transmission Network, Inc.

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