Receiving an invoice from your alcohol distributor is the first step in the long process of managing invoice data. Once the delivery is confirmed, many operators manually key all the invoice data into their back-office or accounting system. This means taking each invoice from each delivery and spending
Digital invoicing (electronic invoicing, or e-invoicing) has revolutionized many industries, and the alcohol sector is no exception. This blog explores how digital invoicing is transforming the alcohol industry through the power of automation and the benefits it brings in terms of time and cost savings, reduced manual intervention,
Hospitality and retail businesses must continually monitor and analyze purchasing behaviors across vendors to ensure margin stability and maintain a positive P&L. In doing so, businesses can improve their purchasing based on data that can lead to informed decisions and conversations with suppliers. Fintech’s Spend Overview makes this
There are many different initiatives within hospitality and retail businesses that keep the business running efficiently. Some of these initiatives are customer-facing, and others live behind the scenes. Areas that require compliance are among the most important, as these areas support margin and profit growth. The breadth of
The brick-and-mortar retail landscape is undergoing a seismic shift. Consumer expectations are evolving, digital competitors are growing, and the pressure to maintain profitability is relentless. For brick-and-mortar retailers, staying competitive in this environment means rethinking traditional business models. Enter scan-based trading (SBT) – a consignment selling model that
There are new payment regulations on the horizon in California regarding payment for wholesaler alcohol invoice payments. With these new regulations, all businesses in the state of California that sell alcohol to consumers must pay for wholesale alcohol deliveries using electronic funds transfer (EFT) beginning January 1, 2026.
There is a lot of recordkeeping with running an alcohol business. As more deliveries come in, that stack of paper invoices climbs higher and higher, making it difficult to sift through the mess to find important information you need. Whether it is tracking down a specific transaction that
Time is one of the most valuable commodities in business. Yet, for many companies, a significant portion of their time vanishes into the black hole of back-office operations. Manually processing invoices, tracking payments, and reconciling errors can drain resources, frustrate employees, and pull you away from what really
Retailers have to adapt on the fly to remain competitive in today’s marketplace. Consignment selling models have gained serious traction with the rise of e-commerce and with trends in traditional buy-sell operations, with scan-based trading (SBT) emerging as a particularly attractive option. This model, in which retailers only
As mid-market businesses strive for growth and sustainability, optimizing accounts payable (AP) processes is a critical step in any long-term planning. AP is ripe for modernization, specifically with invoice processing. Manual AP processes are insufficient and create hurdles when attempting to scale. Businesses can start with digital invoice
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