Industry News | February 6, 2014
NRA and Fintech Form Alliance
The National Restaurant Association (NRA) and Fintech announced their alliance to build awareness and improve purchasing and payment efficiency of beverage alcohol. Through this alliance, NRA and Fintech will be implementing a system of electronic funds transfer payment for purchasing.
“Beverage alcohol purchasing is an important part of our industry,” says Phil Kafarkis, chief membership and innovations officer. “Through Fintech Analytics, we will help educate members to better understand their invoices and their own purchasing. With real time data reports that educate operators on opportunities to save and maximize their purchases, we will educate members about their costs and help improve efficiency in their supply chain. Not only does this partnership help the operator, but eliminates costly expenses for the distributor in delivery time and collections.”
Fintech, a leader in providing electronic data and payments to the alcohol industry, has been a strong advocate of the NRA and a participant at their annual tradeshow and convention. Fintech provides service to more than 260,000 retailer-distributor relationships nationwide and is the only EFT provider approved by all 50 state alcohol regulatory agencies. With more than 2,200 alcohol distributors utilizing Fintech's system nationwide, the relationship is a natural fit to support the NRA's nearly 560,000 restaurant businesses.
The NRA’s partnership with Fintech will also include member access to in-depth data analysis and automated reporting to help operators understand their alcohol invoices and purchasing habits, provide insight into where operators are spending money, where they have the potential to save, best ways to maximize purchases, and eliminate costly expenses for the distributor in delivery time and collections.
"I believe this strategic alliance demonstrates a mutual commitment to providing businesses enhanced data and services that will help propel their operations forward, while additionally aiding in the awareness and advancement of the industry. We couldn't be more excited at the opportunity to work with such a great organization." says Scott Riley, Fintech CEO.
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