Noun
Cabrewing: (Michigan, slang) The practice of consuming alcohol while canoeing.
You have already opened the door to ultimate operational efficiency by automating alcohol invoice payments with your distributors through our Distributor Autopay. Great move. It must feel fantastic knowing you never have to worry about having to stop whatever it is you are doing to make a payment for your alcohol delivery.
Exploring what else you can do to continue building on this ROI is a no-brainer. Currently, you are experiencing the reliability and convenience of automated payment that saves you both labor hours and headaches managing manual payments every week – you don’t even have to think about it, it just happens.
Guess what? There’s much more where that came from…get ready to tap into more time off, or time with your customers, for less than $2 a day. What will you do with all those extra hours?
With Fintech’s PaymentSource®, the grass really is greener and more time for cabrewing awaits!
To Hire, or Not to Hire
Hiring the right person to handle all your back-office tasks requires hours of research, interviewing, training, and trust-building. Not to mention the costs associated with employment like the hourly rate, workman’s comp, health insurance, paid sick leave, paid vacation, and more. Perhaps you handle all the admin work yourself in addition to your customer-facing responsibilities. Either way, you are investing a ton of time and money that could be spent elsewhere.
Enter Fintech. You get all the admin help you need without the long and costly process of hiring someone or doing it yourself. Here are some reasons why our clients have opted for our less than $2/day model and say that we are their “best hire ever.”
1. Affordability
For less than $2 per day, you gain access to multiple intuitive features that automate your alcohol payments and integrate line-item data into your back-office system. Want to look more into the inner workings of your alcohol payment management? PaymentSource has specialized reports that help keep your margins healthy. You can request and receive credits from your distributors in one simple interface, monitor invoice payment activity, access 15 months of invoice data, and take advantage of automated GL coding. We’re just getting started!
You will look at your monthly P&L statements, see that PaymentSource is one of your lowest expenses, and wonder why you hadn’t signed on sooner. In fact, you’ll have more money to drop into your cabrewing budget just in time for summer.
2. Actionability
Yes – automated alcohol payments are great! But business owners thrive in knowing more about what lies in their alcohol payment data.
Have you ever wondered why your wine costs are up at the end of the month and then had to spend a late night digging through old invoices to find the answer? Not anymore! PaymentSource’s automated Cost Variance Report is available 24/7 and will highlight any time you paid a different price for the same product.
Maybe the price went up and you weren’t informed by the distributor. Maybe it was just an error. Either way, you can ask your distributor better questions about why you are paying different prices and course-correct to protect margins timely, driving more revenue to the bottom line and your vacation fund.
Have you ever been curious about which products are moving faster across your locations and how you can leverage that for better pricing from your distributor partners? PaymentSource’s Top Products Report grants visibility into this through accurate purchasing data so you can confidently talk to your distributors about better pricing or deals on quantity buys for high-velocity products.
Have you ever wanted to go back into your invoice data but can’t spend the time backtracking through months of paperwork? PaymentSource’s Invoice Report houses 15 months of previous invoices where you can search by distributor or location and see which credits have processed through the system all in one easy-to-use interface included in your less-than-$2/day spend.
If, for whatever reason, there is an issue with a delivery, PaymentSource features a built-in Invoice Inquiry tool where you can talk directly with your distributor partners to clear up any discretions.
Oh…did we mention it costs less than $2 a day.
3. Accuracy
You’ve made your payment and received a paper copy of your invoice. Now comes your favorite part…manually entering all line-item data in your back-office accounting system. Don’t you just love spending the time looking back and forth between the paper copy and the seemingly endless spreadsheet on your computer and making sure each item is accounted for and each price is entered correctly?!
PaymentSource has an integration capability – either automated or by a generic EDI file sent to you for upload – that handles this painstaking process for you. This saves hours per week in admin work and eliminates the human error of accidentally missing a line item or entering the wrong amount.
Distributors have their own language with different abbreviations and codes for their products. Instead of becoming multilingual, Fintech converts any abbreviations on your paper invoices into plain text to make them easier to read when looking at your Invoice Detail Report.
So, for less than a cup of coffee in most places, you can guarantee timely and accurate line-item invoice data entry.
PaymentSource automatically integrates with over 200 back-office systems like R365, PDI, QuickBooks, and others for both on and off-prem businesses. If you have a different system that doesn’t integrate, we provide you with a generic file that most will accept.
All for the low, low price of less than $2 a day!
4. Security
There are more and more data breaches each month, no matter what the industry. We understand you want to ensure your financial information is protected. Fintech uses secure and compliant transaction channels approved by Nacha, which “governs the ACH Network, the payment system that drives Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts.”
Switching to electronic payments is also safer because you don’t have to worry about dealing with large cash or check amounts at each delivery. And you’re not only doing this favor for yourself. This also protects alcohol delivery drivers by allowing them to carry less cash between stops.
It’s also considered safe spending, as it’s only less than $2 a day.
5. Reliability
Our valued clients know that we never take a sick day, never request PTO, are never late for a shift, and will always complete our work on time. By using Fintech, you and hundreds of thousands of other businesses that sell alcohol never have to worry about missing a payment and ending up on the “No Sale” list.
PaymentSource users rely on us to process over $42B in alcohol invoice payments annually. They rely on us to accurately integrate their line-item invoice data into their back-office accounting system. They rely on us to clean the data and present it in a way that managers can draw insights to make adjustments to protect their margins. And most of all, they rely on us to do all this behind the scenes so they can remove unnecessary hurdles in running their business.
Still Not Convinced? Try PaymentSource FREE for 30 Days
Why waste time with manual processes when cabrewing in the nice weather awaits? Join the over 200,000 businesses trusting PaymentSource with their alcohol management. PaymentSource is automation technology built exclusively for the bev alc industry. By upgrading, you are positioning your business to generate more ROI and improve operational efficiency.
Don’t spend your time drowning in a river of alcohol invoices when you could instead spend it cabrewing downriver to your next destination. Perhaps you may even run into a brewery you can stop at to grab another drink. Request a demo today to see PaymentSource in action and claim your free time back.
