What is Fintech?
For more than thirty years, Fintech’s PaymentSource has been revolutionizing financial operations within the alcohol sector using cutting-edge solutions for accounts payable (AP) and accounts receivable (AR). The AP automation feature offers insights into 15 months of invoice history, performs cost variance analysis, and simplifies the process of reconciling distributor credits. The newly introduced Premium tier expands these capabilities to encompass all types of goods, services, and supplies, providing comprehensive visibility, effortless vendor integrations, and improved cash flow management—all within an intuitive and easy-to-navigate platform. In terms of AR, PaymentSource enables secure and compliant electronic payments from a vast network of over 250,000 retail and hospitality partners across the country. Distributors can conveniently view invoice information, monitor payment statuses, and directly issue credits through the portal, achieving an average cost reduction of $6.80 per delivery while ensuring compliance across all 50 states. With PaymentSource at their disposal, companies can enhance their financial workflows, minimize errors, and boost overall operational efficiency. This innovative approach not only streamlines processes but also empowers businesses to make informed financial decisions with confidence.
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Fintech Categories and Features
Billing and Invoicing Software
Accounts Receivable Software
Accounts Payable Software
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Fintech Customer Reviews
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Mixed bag - not worth it
Date: Jan 07 2025SummaryIn general, paying with a check was easier and less prone to errors. I'm probably going to stop using Fintech to pay invoices and will only use it to get paid by those customers who demand it.
PositiveThe only good point that I can think of is that I consume less checks and have to get them printed less often.
NegativeRequires two accounts if you both "get paid for " and "pay" invoices.
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No transparency in distributor auto pay of what invoices got combined.
Mistakes are made often by suppliers on deposits/returns, paying with a check never had these issues.Official Fintech Response
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