If there is one thing distributors are familiar with, it's complexity.
In the case of accounts receivables (A/R) processing and management, much of the historical complexity surrounding these operations has resulted from paper-based remittances (i.e., checks) and the lack of available technology solutions to help address the manual, time-consuming and error-prone processes many distributors experience within their A/R departments.
As companies work to transition customer remittances from paper checks to electronic payments, two out of three acknowledge a lack of integration between electronic payment solutions and back-office systems. What benefit is accepting electronic payments if your team(s) still have to manually post those items to your back-office systems? What’s more, as recent as two years ago, 93 percent of checks deposited as images came from business customers. Efficiently and cost-effectively managing check payments is still—and will continue to be—the foundation of successful A/R operations even as the adoption of electronic payments continues to rise.
Discover how Shamrock Foods Company, the seventh largest foodservice distributor in the U.S., has been able to expand and seamlessly scale its accounts receivables operations on a single, Software-as-a-Service (SaaS), integrated receivables platform to decrease DSO, increase cash flow, and take control of its A/R operations like never before.
In this episode of FTNI's True Integrated Receivables Spotlight Series, Patty King, Director of Credit, Shamrock Foods Company, joins Zac Robinson, Senior Vice President of Sales & Marketing, FTNI, to discuss how Shamrock Foods has been able to transform its A/R and cash application operations on a single, truly integrated receivables platform to achieve game-changing results.
