Last updated on March 25th, 2021 at 07:18 pm
Ferraro Foods, an Italian food distributor headquartered in Piscataway, New Jersey, has selected Financial Transmission Network Inc.’s (FTNI) fully-hosted Online Payment Portal and Mobile App to deliver increased security, convenience and efficiencies across accounts receivable operations. FTNI is a provider of industry-leading integrated receivables solutions. Ferraro Foods will launch these new services early in Q2 2019.
Ferraro’s launch of the ETran platform will bring new online and mobile payment acceptance capabilities and benefits to Ferraro’s customers and internal accounts receivable operations. Through the use of ETran’s Fully-hosted Online Payment Portal, Ferraro customers will gain access to convenient, self-service ACH and credit card payment options. Following initial account registration, confirmation and log-in, Ferraro customers will be able to view and select electronic versions of their invoices for payment. Customers also will have the option to schedule future payments based on invoice due dates for additional convenience.
Ferraro also will be leveraging ETran’s Mobile Payment App to enable employees in the field to securely accept check, ACH and credit card payments on the go. Easy-to-use mobile invoice presentment options within the application will allow payments to be associated with the chosen invoice(s) right on the spot, significantly streamlining Ferraro’s back-office cash application operations.
“Our customers have expressed growing interest in the ability to pay online, and we are excited to be able to deliver them with the proven convenience and security of an industry leading online payment experience,” said Thomas Recine, COO at Ferraro. “Our use of ETran Mobile by our representatives in the field will allow us to securely accept and accurately associate payments to open invoices on the fly with the ultimate focus on decreasing DSO and driving additional operational efficiencies throughout our accounts receivable operations.”
“Ferraro Foods is yet another great example of a leading modern distributor making the commitment to expanding their existing payment processing capabilities,” said John Karhoff, director of sales at FTNI. “But as many distributors know, accepting payment from a customer is many times just the first step in what can often be a labor-intensive, error-prone, posting and cash application process. Our ETran integrated receivables platform aims to tear down the silos that have historically hindered accounts receivable departments, replacing those legacy systems with a single, seamlessly integrated solution. We’re excited to partner with the team at Ferraro Foods as they grow their use of the platform now and in the years to come.”
Founded in 1975, Ferraro Foods services more than 3,500 customers spanning 16 states across the eastern U.S.
Founded in 2007, Financial Transmission Network accelerates the way businesses accept, process, post and manage payments.