Attention California Retail and Hospitality Businesses!
Have you heard about the new EFT Law?
This law requires all wholesale alcohol invoice payments to be made using electronic fund transfer (EFT) payments. Our free service is fully compliant with this new law. Self-sign-up to see why over 23K California businesses selling alcohol and 420+ California alcohol distributors already trust Fintech.
Stop Overpaying for Alcohol with Expected Cost Analysis
Comparing Expected to Invoiced Costs is Now Automated
This new compliance module compares what you would expect to pay for a product against the cost on the invoices you process through Fintech. Any cost higher than the expected amount in your product catalog will be flagged, allowing you to determine where you need to adjust pricing or negotiate with vendors to stay within margin targets.
Scaling Accounting and Operational Efficiencies with Automation
Fintech is not just for alcohol anymore.
With nearly 35 years of accounts payable and receivable automation experience, PaymentSource® Premium now offers automated invoice processing for all business-to-business purchases.
Eliminate Inventory Holding Costs with Consignment-Selling
Money belongs in the bank, not sitting on a shelf.
A win-win for retailers and their supply chain partners, this revolutionized way to do business creates relationships uniquely designed to increase profitability and decrease shrinkage.
Automating Regulated Alcohol Payments for Nearly 35 Years
Creating delivery and payment efficiencies that produce an immediate ROI.
Over 265,000 businesses selling alcohol use Fintech’s PaymentSource® to increase productivity across operations and accounting procedures through effortless alcohol delivery payments.
Empowering growth through client focus and innovative solutions.
Hospitality and Retail Businesses
0
Distributors, Vendors and Suppliers
0
Invoices Processed Annually
0
1 OUT OF EVERY 3 USE FINTECH
Providing Invoice Payment Technology and Data Insights for Nearly 35 Years
Fintech supports over 1,100,000 business-to-business relationships nationwide and now provides AP & AR automation for ALL business purchases, not just alcohol.
For Retail Businesses
Create efficiencies across accounting and inventory management.
Strengthen operational cash flow by paying for inventory after you sell it, reduce inventory holding costs, and minimize shrinkage. Create consignment-selling relationships with vendors to build sales.
Receive normalized invoice data across all business purchases through one integration. Autopay alcohol invoices on the due date for effortless payment compliance.
For Hospitality Businesses
More time with customers, less time in the back office.
Process all invoices using a single source. Receive invoice data through one integration with vendor and product details. Access 15-months of invoice history, utilize analytics by expense category, choose your preferred way to pay invoices, and monitor invoice payments.
FOR ALCOHOL DISTRIBUTORS AND SUPPLIERS
Your efficiency is our specialty.
Receive payment for all deliveries automatically, keeping deliveries moving and sales teams selling. Whether COD or offering more time to pay, Fintech will automate your payment collection. Use our CRM solution specifically designed for alcohol sales to track accounts and monitor fulfillments.
FOR VENDORS AND SUPPLY CHAIN PARTNERS
Become your retailers' favorite vendor.
Send us your invoices and we will send them to your retailers in their required format, and to the right department, to speed up the payment process and handling invoice inquiries.
Create consignment-selling relationships with your retailers to stay in control of inventory levels and ordering while significantly reducing shrinkage.
FOR ACCOUNTING FIRMS
Grow your client base with AP automation.
Alcohol deliveries are paid automatically per the invoice terms, and payment options are available for all other invoices. Invoice data is ingested, normalized, and delivered into your clients’ back-office systems through an integration. In the portal, you can access invoice history, and track or make invoice payments.
YOUR REGULATORY RESOURCE
We stay informed on the latest alcohol regulations and keep you in the know.
Explore our page below to gain insights into alcohol regulations across the U.S.
Client Testimonials
Fintech has become an integral part of our business and has given us visibility into how our operators purchase alcohol. The custom reports we receive have improved our alcohol reconciliation process and have helped us, coach managers, to purchase for the maximum discount, correct overages, and receive credits for charges that could have gone unnoticed. The return on investment was immediate, and it has helped us save time and money.
First, let me say, you and your team over at Fintech have been doing a phenomenal job at getting our customers set up for EFT. I realize what an undertaking it is, and I marvel at the skills and efficiency of the Fintech team for pulling off this enormous task.
We use Fintech’s PaymentSource to automate invoice data entry from 43 vendors. Fintech receives the invoices, standardizes the data, and sends all the data to our back-office system through an integration in one daily file. Today that’s data from 7,500 invoices monthly received without manual entry mistakes. Once we add a few more vendors it will be close to 9,000 invoices monthly. This automation saves our Pricebook Management and Internal Auditing teams 10-15 hours every week in each department, not to mention the hours saved for our AP team.
Fintech has helped streamline our ordering and record-keeping process. Prior to coming on-board, we were managing accounts across 4 major distributors - each with a different delivery schedule and invoicing system. Fintech keeps things tidy in the backend by providing a centralized location for billing and order records, saving our accounting team time and energy.
Accounting departments love using Fintech. Its line-item integration into different systems make invoice and data tracking simple. Fintech can take invoices with mixed payment rules, for example if there is a 30-day payment processing rule for beer and wine but cash-on-delivery for liquor, and pay them accordingly and automatically. Its master login for all accounts is a game changer. I honestly don’t see a downside.
The solutions provided by Fintech have become invaluable for World Wide Wings, and part of our daily beverage alcohol management routine. We don’t have to think twice about our store’s compliance, we save money and order more efficiently. Whether I operated 66 locations or one, I will always be a Fintech user.
World Wide Wings
Choosing Fintech to help manage our beverage alcohol category was such a simple decision. They provide a convenient system that’s easy to implement when opening new locations and the service after sale has been fantastic. There are many factors that go into beverage alcohol management, from proper invoice reconciliation to liquor law compliance, and Fintech takes the headache out of all of it. Simply put, using Fintech is a no brainer!
V.I.B.E.
Managing multiple locations across the country can be challenging, especially when having to wait for each invoice to be manually entered by our managers. PaymentSource® speeds up this process by allowing our managers to simply scan and upload the invoices into one portal for review and payment approval. All invoice data is transmitted into Compeat, automating our inventory management, and saving hours on invoice data entry.
I recommend Fintech for any business looking to save time and streamline operations. The platform is a powerful tool for reducing manual effort and improving operational efficiency across multiple locations. The ability to easily manage invoices, avoid errors like lost checks, and save valuable time is a game changer.
If we need to have a sale on a SKU that isn’t moving, or increase stock levels at certain locations, Fintech insights are very helpful. For upper management, they can easily see what items are more relevant to certain areas.
After switching to Fintech, we no longer had to write checks. Instead, we started using ACH withdrawal, which significantly reduced the time I spent on accounting. With each debit transaction, the name of the distributor is clearly shown, making reconciliation a breeze. Overall, Fintech has improved both productivity and efficiency across my business.
