Alcohol Management with Fintech
The Importance of Food Chain Control and Compliance
April 1, 2020
Business Process Improvements (BPI)
April 13, 2020About Fintech
Fintech was the first to deliver the convenience of electronic payments to the alcohol industry, and now offers a smart platform built to help you manage your beverage alcohol category. Today, Fintech processes over $30 billion in annual alcohol payments, servicing more than 605,000 alcohol retailer-to-distributor relationships with an electronic payment method that:
- Facilitates payments for regulated alcohol purchases between commercial alcohol distributors and businesses that sell alcohol
- Provides detailed invoice visibility for alcohol purchase invoices
- Reconciliation capabilities for bank activity and drafts for payments
- Ability to import the alcohol purchase invoices electronically into over 600 back office management systems
- Increases safety and security by eliminating cash, checks, money orders, and escrow account
- Supports a no-contact delivery method
- Eliminates manual payments for COD and term deliveries
- Reduces time drivers spend at each location
Coming to CedarCreek
By mid-summer we will be adding FinTech’s beverage management payment solution with an integration to our beverage inventory management system, labor management and cyber security to our full BirchStreet procure-to-pay solution (marketplace e-procurement, inventory, AP 3-way matching integrated into CMS, Recipe Management and Capital Project Management), payment/remittance services and invoice management (digitization and integration).
CedarCreek Systems has partnered with Fintech to support you with electronic alcohol invoice payment services for free through June 30th
Whether your business is experiencing higher volume and facing challenges and safety issues with manual payments, or you’re focusing on rebuilding your alcohol category once this challenging time has passed, we are here to support all our partners in the alcohol industry.
Since we are currently unclear how long businesses will be impacted by COVID-19, Fintech is offering free alcohol payment services through June 30th to all new retail clients in need, with no obligation.
We believe the value of Fintech is a reduction in the time required to process payments. In a time that “doing more with less” is a resounding objective, they are positioned to help. If you would like to explore this further, please check out the offer at https://go.fintech.com/CedarCreekFree .
