“FTNI’s ETran platform has allowed us to streamline back-office posting and collection efforts. The efficiency gains and increased visibility we now enjoy across all of our receivables processing efforts has been incredibly valuable.” -- Amanda Scoggin, Deputy Director of Accounting
OMAHA, Neb. (PRWEB) May 06, 2019
Financial Transmission Network Inc. (FTNI), a provider of industry-leading integrated receivables solutions, today announced Kohl Wholesale, a fifth generation family-owned and operated broadline distributor serving Illinois, Missouri and Iowa, has rolled out its ETran Integrated Receivables platform to deliver the distributor with advanced Remote Deposit Capture (RDC), AutoPay, Online and Mobile payment solutions.
Headquartered in Quincy, Illinois, Kohl Wholesale was originally founded in 1873 and continues to be a strong broadline distributing force in the Tri-State (Illinois, Missouri and Iowa) area. Kohl Wholesale is a proud distributor of many national brands in its inventory of over 10,000 products. For over 140 years, Kohl Wholesale has proudly provided service to many kinds of businesses including restaurants, hotels, supermarket delis, schools, hospitals, nursing homes, retail groceries, caterers, taverns, and many more. The growth that Kohl Wholesale has enjoyed over the years can be directly linked to the focus and value this family-owned business places towards providing great customer service.
Adoption of FTNI’s ETran platform within the foodservice, beverage and janitorial & sanitation distribution sectors continues to grow as the company has added 30+ new distribution customers in the past 24 months. FTNI’s distribution clients serve customers in every state in the continental United States and several regions in Canada. Used by leading companies across numerous industries, ETran has proven to decrease processing times by as much as 80 percent and reduce DSO by more than four days.
Kohl Wholesale’s implementation of ETran includes several of the platform’s most popular modules among FTNI’s distribution customers—advanced RDC, AutoPay, Fully-hosted Online Payment Portal and ETran Mobile.
The ETran advanced RDC module is helping Kohl’s A/R team to accelerate and streamline check processing operations, while ETran’s Fully-hosted Online Payment Portal gives Kohl Wholesale customers convenient self-service access to online ACH payment options. ETran’s electronic invoice present and payment (EIPP) capabilities within the online payment portal allow customers to securely select and pay their invoices in accordance with their payment terms. ETran’s AutoPay features automate the previously manual process of drafting ACH and/or credit card payments based on customers’ unique payment terms and open invoices. ETran Mobile empowers Kohl’s sales representatives in the field to easily and securely accept payments via mobile remote deposit capture (mRDC) and ACH in the field across both iOS and Android devices. Mobile invoice presentment options within the application allows payments to be matched to the appropriate invoice(s) right on the spot.
Kohl Wholesale also benefits from ETran’s unique ability to deliver true straight-through processing to drive significant efficiency gains within it’s A/R operations as historically manual, time consuming and error-prone posting and cash application processes have been dramatically reduced, and in some cases, completely eliminated.
“As our business continues to expand, so does the volume of work placed on our accounts receivables operations,” said Amanda Scoggin, the Deputy Director of Accounting at Kohl Wholesale. “FTNI’s ETran platform has allowed us to streamline back-office posting and collection efforts. The efficiency gains and increased visibility we now enjoy across all of our receivables processing efforts has been incredibly valuable.”
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 accounts receivables operations spanning any payment method (check, ACH, credit/debit card, cash), from any payment channel (mailed-in, lockbox, called-in, in-person, online, mobile), all from a single, easy-to-use interface. ETran’s ‘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.
“With over 140 years of history and heritage, Kohl Wholesale is a recognized leader within the broadline distribution industry,” commented John Karhoff, director of sales at FTNI. “We are very proud of the collaborative partnership we’ve built with the team at Kohl and look forward to supporting their receivables processing technology needs for many years to come.”
About Kohl Wholesale
Kohl Wholesale is a fifth generation family-owned and operated broadline distributor with over 140 years’ experience serving customers in Illinois, Missouri and Iowa. Supporting an inventory that includes over 10,000 products from many national brands, Kohl Wholesale provides service to restaurants, hotels, supermarket delis, schools, hospitals, nursing homes, retail groceries, caterers, taverns, and many other businesses. Kohl’s consistent growth through the years can be directly linked to the company’s unwavering focus and value placed towards providing great customer service. To learn more, visit http://www.kohlwholesale.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 ftni.com.