Jake’s Finer Foods to Rollout Online Payment and AutoPay Solutions from FTNI to Evolve and Streamline A/R Operations

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Leading Broadline Distributor and Restaurant Supply Company Serving Texas and Western Louisiana Selects FTNI’s ETran Integrated Receivables Platform to Deliver New Online Payment Portal and AutoPay Solutions.

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“FTNI’s ETran platform enables us to seamlessly manage our electronic payments on a single platform, while also extending new, convenient online payment options for our customers." -- Anne Scarcella, Credit Manager, Jake’s Finer Foods

Financial Transmission Network Inc. (FTNI), a provider of industry-leading integrated receivables solutions, today announced Jake’s Finer Foods, a premier broadline foodservice distributor serving the Texas and Louisiana foodservice and retail communities, has selected its Online Payment Portal and AutoPay solutions to drive increased efficiencies within its A/R operations and deliver customers with new, convenient online payment options. FTNI and Jake’s Finer Foods are on target to launch these new services early in Q4, 2018.

For more than 70 years, Jake’s Finer Foods has been family-owned and operated, delivering superior quality, exceptional service and creative solutions to foodservice providers and restaurants throughout Texas and western Louisiana. Headquartered in Houston, TX, Jake’s features a selection of more than 10,000 foodservice products, including fresh meat and produce, as well as gluten-free, natural and organic specialty items.

FTNI’s momentum as a leading provider of truly integrated receivables solutions to the foodservice, beverage, and janitorial & sanitation supply sectors continues to grow, having added nearly 20 new distribution customers in the past 12 months, including multiple top 50 foodservice distributors. Used across multiple industries, ETran has been proven to decrease companies’ time-to-process by up to 80 percent and reduce DSO by more than four days.

Jake’s Finer Foods will deploy two of ETran’s most popular solutions among distribution users looking to streamline the acceptance, processing and posting of electronic payments—Online Payment Portal and AutoPay. ETran’s fully-hosted Online Payment Portal will deliver Jake’s customers with convenient self-service online ACH payment options, complete with electronic invoice present and payment (EIPP) features to securely select and pay their invoices in accordance with their payment terms. ETran’s AutoPay solution will help Jake’s A/R department to simplify and automate the drafting of ACH and/or credit card payments based on customers’ unique payment terms and open invoices. Jake’s will also utilize ETran’s straight-through processing capabilities to automate the posting and cash application of remittance information and associated transactional data into its back-office ERP system.

“As our customers’ payment preferences continue to evolve towards electronic payments, we see a strategic opportunity to meet and exceed their expectations," said Anne Scarcella, Credit Manager at Jake’s Finer Foods. “FTNI’s ETran platform enables us to seamlessly manage our electronic payments on a single platform, while also extending new, convenient online payment options for our customers. To gain all of this functionality from a single platform that also helps us to more efficiently manage the cash application process in our back-office ERP is a major added benefit for our A/R team.”

ETran’s cloud-based, highly-configurable design allows A/R organizations to efficiently 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.

“Jake’s Finer Foods is a great example of the ongoing electronic payments evolution taking place within distributors’ A/R operations,” commented John Karhoff, director of sales at FTNI. “Robust, truly integrated receivables solutions such as our ETran platform are helping companies like Jake’s to escape legacy, siloed systems and deploy modular, highly-configurable receivables processing solutions tailored to their unique business requirements and processes, existing back-office systems, and banking and merchant processor relationships to achieve new levels of efficiencies and cost savings.”

About Jake’s Finer Foods

Jake's is a leading distributor of more than 10,000 foodservice products, including fresh meat and produce, as well as specialty items such as gluten-free, natural and organic. Founded in 1946, Jake’s Finer Foods is a local, family-owned and operated, broadline foodservice distributor and restaurant supply company delivering quality food, great value and exceptional service to foodservice providers and restaurants in Texas and western Louisiana. Jake's recently expanded its state-of-the-art distribution facility in northwest Houston to a total of 230,000 square feet. To learn more, please visit http://www.jakesfinerfoods.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—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.

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