TAMPA, Fla., Oct. 06, 2022 (GLOBE NEWSWIRE) — Financial Information Technologies, LLC (“Fintech”), the leading provider of B2B solutions for the beverage alcohol industry, has been selected as the exclusive alcohol handling partner for 69 S&G Stores worldwide Midwest, adding to its growing base of over 200,000 customers nationwide. This relationship integrates the use of Fintech’s PaymentSource® to increase operational efficiency across all S&G locations.
This PaymentSource implementation ensures that all alcohol distributors in the S&G network are automatically paid according to the terms stated on the invoice, and supports compliance with various payment rules across state lines. The line item alcohol invoice data integration into the retail chain’s back-office system eliminates manual data entry and provides a comprehensive overview of the cost of goods sold – including alcohol.
Fintech worked with both the S&G team and its distributors to execute a seamless rollout that provided an immediate ROI and access to actionable alcohol data insights to protect margins and increase profitability.
“Implementing Fintech across our stores was a seamless process from start to finish. Fintech’s platform will help improve alcohol product management for a number of S&G locations, says Neal Frandsen, vice president of marketing at S&G Stores.
“We are proud to have S&G Stores as part of our network of Fintech-enabled convenience stores and look forward to helping them run their businesses more profitably and efficiently with our payment and data products,” said Tad Phelps, CEO in Fintech.
About Fintech
Fintech supports over 200,000 suppliers, distributors and retailers, giving operators and accounting teams the tools they need to sell more alcohol, protect margins and reconcile timely and accurately. Processing over $42B in alcohol purchases annually, Fintech automates invoice payment and collections so customers can manage invoices, credit and banking activity online. Users can access actionable alcohol purchase data and eliminate manual entry of invoice data with an integration or data file. With over 30 years of experience, reliability and trust, you can count on Fintech to support your alcohol business’s growth and stability. To learn more, visit our website.
Consult: Misha Hart, 800.572.0854 x 3827, [email protected]
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