“The addition of new online, mobile and autopay solutions have helped us empower our customers with highly-convenient, contactless payment options, while also modernizing and streamlining our receivables operations,” -- Erik Chaney, vice president and CFO, Gem State Distributors
OMAHA, Neb. (PRWEB) October 26, 2020
Financial Transmission Network Inc. (FTNI), a provider of industry-leading integrated receivables, payment processing, and cash application solutions, today announced that Gem State Distributors, a leading regional broadline distributor of candy, snacks, beverages and more, has launched several new customer-facing and back-office payment processing and cash application solutions powered by FTNI’s ETran platform.
Family-owned since its founding 1958, by Don Noorda, Gem State Distributors services the convenience store market throughout an eight state region including Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, New Mexico, and Texas. Gem State Distributors conveniently serves its regional customers from two distribution centers—one located in Pocatello, ID, and the second in Albuquerque, NM. As the retail industry continues to develop and change, Gem State is committed to technology investments to streamline operations and providing its customers with the highest standards of service excellence.
During a time of hyper disruption and social distancing, contactless payments have quickly become essential to businesses Accounts Receivables (A/R) operations. Through the use of ETran’s fully-hosted Online Payment Portal, Gem State is now able to deliver its customers with convenient online payment options. From the online payment portal, Gem State customers are able to securely view and pay their open invoices, store payment methods for future use, and view past payment history.
Gem State has also launched ETran’s Mobile Payment and AutoPay solutions. With the help of the ETran Mobile app, Gem State’s representatives are now able to securely accept check and ACH payments in the field, associate payments to open invoices, and have those payments automatically sent to the home office for review, processing and posting—significantly accelerating the pace with which payments accepted in the field are delivered to the bank for deposit. Additionally, ETran’s AutoPay solutions are helping to facilitate the automatic drafting of ACH payments based on customers’ open invoices and unique payment terms.
“The addition of new online, mobile and autopay solutions have helped us empower our customers with highly-convenient, contactless payment options, while also modernizing and streamlining our receivables operations,” commented Erik Chaney, vice president and CFO, Gem State Distributors. “The ability to deploy new payment acceptance capabilities from a single platform that also helps to automate the cash application within our back-offices systems is a big win for our customers and our internal operations.”
Currently being used by leading companies across numerous industries in the U.S. and Canada, ETran has been proven to increase the speed at which companies’ internal A/R teams can process and post payments, and reduce DSO by more than five days.
ETran’s agnostic, ‘plug-n-play’ nature works with existing bank and merchant processor relationships and supports efficient integration, either batch or real-time, to any back-office system.
“FTNI is proud to partner with Gem State Distributors as they evolve their systems and processes to streamline receivables operations and deliver their customers with expanded payment options,” said John Karhoff, director of sales, FTNI. “Gem State’s adoption of the ETran platform is yet another great example of how leading distributors can leverage the power of seamlessly integrated payment processing and cash application automation solutions delivered from a single, cloud-based platform.”
About Gem State Distributors
Gem State Distributors, a family-owned company founded in 1958, is headed into its sixty-third year, led by founder Don Noorda’s, sons Paul and Joseph Noorda. A broadline wholesale distributor, Gem State serves convenience store operators across an eight-state region from Idaho to Texas. Gem State Distributors offers the most profitable product lines in the industry, including nationally known items in a variety of categories, as well as important regional brands—all with a proven record of performance. Visit gemstatedist.com to learn more.
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 seamlessly integrates current business processes, bank and processor relationships, and back-office systems to modernize and automate payment processing and cash application operations. Founded in 2007, FTNI serves more than 20,000 corporate users from over 1,000 leading companies spanning numerous industries including Banking and Financial Services, Distribution, Insurance, Nonprofit, Property Management, Utilities, and more. For more information, visit ftni.com.