In the world of alcohol distribution, where speed, efficiency, and safety intertwine, the adoption of cashless Electronic Funds Transfer (EFT) emerges as a transformative solution. Tryon Distributing, a Fintech distributing partner, is embracing this innovative payment method with its retailers. There are multiple benefits with EFT alcohol invoice payments for both sides of the transaction, but first, let’s learn a little more about Tryon Distributing and its growth as a premier North Carolina distributor.
About Tryon Distributing
Tryon Distributing is North Carolina’s premier wholesale distributor of domestic and imported wines and beers. With headquarters in Charlotte, Tryon Distributing services the entire state of North Carolina and is committed to delivering premium quality alcoholic beverages to a growing customer base.
Tryon Distributing was founded back in 1985 by Brad Johnston and Steve Hedberg, specializing in fine wine and imported beer in Charlotte. In 2005, Johnston was the only wholesaler involved in lobbying to raise the 6% ABV cap on beer to 15% during the “Pop the Cap” movement. Tryon has since grown its craft beer portfolio to almost half of its business, and in 2018, Tryon was named ‘Craft Wholesaler of the Year’ by the American Brewers Association. Most recently, in the fall of 2023, Johnston was knighted by Belgian Brewers Guild for his efforts in establishing Belgian beer in North Carolina.
Today, Tryon has become a statewide company with two main distribution centers and almost 300 employees. The family-owned and operated company is proud to be an independent wholesale distributor, providing the state with a variety of over 500 brands, including beer, wine, cider, seltzer, and sake.
Johnston currently serves as Tryon’s CEO, while his son Ed serves as Tryon’s President.
3 Benefits of Cashless EFT Alcohol Invoice Payments
1) Driver Safety: Redefining Security in Transactions
One of the most significant advantages of cashless EFT in alcohol distribution is its contribution to driver safety. By eliminating the need for traditional cash transactions, drivers face a significantly reduced risk of being targets for robbery. In today’s world, where safety is paramount, this shift in payment methods not only safeguards the drivers but also minimizes the chances of losing crucial funds during deliveries.
2) Effortless Efficiency: Streamlining Operations for All Parties
The seamless nature of cashless EFT isn’t just helpful for increased driver safety; it’s a game-changer for operational efficiency. This method expedites delivery processes, allowing drivers to swiftly navigate in and out of deliveries. This quick turnaround benefits both the retailers receiving the shipment and the distributors in optimizing their route times. The result? A smoother, faster, and more efficient supply chain for all involved.
3) Accounting Advancements: Unveiling Fintech’s Impact
Behind the scenes, cashless EFT orchestrates a symphony of efficiency within the distributor’s accounting department. Traditional payment methods often create bottlenecks in the workflow, complicating the tracking of invoices and other accounts receivable tasks. Fintech improves these workflows by automatically paying invoices, simplifying tracking, and enhancing overall accounting efficiency, enabling distributors to navigate their financial responsibilities with unprecedented ease.
Pushing the Industry Forward With EFT Payments
The collaboration between Fintech and Tryon Distributing isn’t just about adopting cashless EFT—it’s a testament to a strategic partnership dedicated to elevating the standards of safety, efficiency, and financial management within the alcohol distribution industry. This synergy fosters an ecosystem where transactional, operational, and financial workflows are optimized for unparalleled success. Automated EFT payments mutually benefit each tier of the alcohol industry, and Tryon Distributing’s participation showcases its commitment to improving business for each of its partners.
You can learn more about Tryon Distributing here.
