OMAHA, Neb. (PRWEB) May 19, 2015 – Financial Transmission Network Inc. (FTNI), a leading provider of integratedpayment processing solutions, and Parks & Sons of Sun City, an established waste management firmcelebrating 50 years serving Sun City, AZ, and the greater Phoenix valley, today announced the successful In business for over 50 years, Parks & Sons serves more than 120,000 customers and averages 2,000remittances a day. FTNI’s enhanced remote deposit capture (RDC) module provides the companyunprecedented speed, flexibility and reliability in its check and remittance processing efforts. As part of FTNI’sETran integrated receivables hub, the ETran RDC module delivers the ability to scan checks and remittanceadvices while seamlessly associating and storing all account and payment information in a PCI-compliant,secure, central location. “In the past couple years we’ve worked on getting back to the basics, focusing on profitable efficiencies andpreparing ourselves for another growth trend we’re entering,” said Shawn Parks, Business Manager at Parks &Sons. “A great example is our payment processing time. During our busiest invoicing cycles, ETran’s fullautomation reduced our payment processing time by 80% and significantly streamlined our auditing processes.” Parks & Sons’ receivables clerks work with three separate items – coupons, checks and envelopes – for eachremittance received. Previously, in addition to manually scanning and entering data associated with eachcoupon and payment, clerks also had to manually export batch files for input into the company’s back officeAR system. With ETran now in place, the entire process is automated. Upon each coupon and check beingscanned, data is automatically entered and associated with the appropriate customer account within the system.Time consuming, error-prone, manual data entry related to items such as change of address information, is nowcaptured during the scanning process and posting files are automatically generated and uploaded into thecompany’s back office accounting system, facilitating true straight through processing and further streamlininglegacy processes. “ETran transformed our receivables processes and brought efficiencies to us we never expected. We no longerdo any front-end auditing of our mailed in payments,” commented Parks. “Before, we had to audit 100% of ourpayments to find maybe 5% with changes or problems. Now we audit 0% on the front end and let ETran’sautomation flag any issues. Due to that automation, we only need to audit that 5% with issues. The decrease inour time to process has been phenomenal.” ETran also helped enrich the customer service experience at Parks & Sons. Accelerating payment processingtimeframes significantly reduced inbound customer inquiries to the company’s call center related to paymentstatus questions, saving time and money while allowing customer service staff to focus on more time-sensitivecustomer needs. For calls that do still involve payment questions, the company’s service staff now has a userfriendly,single interface to view all pending and processed payments in real-time, enabling them to quicklyprovide accurate information while answering customer questions or researching issues. “From using enhanced RDC capabilities to significantly reduce the turnaround time to process check and remittance information, to leveraging a direct integration with their back office accounting system to enable straight through processing, Parks & Sons is a great example of the benefits companies can realize by movingtheir receivables to the cloud,” said Kurt Matis, president and CEO, FTNI. “We’re proud that Parks & Sonschose FTNI as a key partner in their decision to move their receivables processes and technology to the cloudand look forward to continuing to grow this successful relationship.” “Working in the cloud with applications like ETran, we can go wherever we need to and we’re always ready togo,” said Shawn Parks, Business Manager at Parks & Sons. “Selecting FTNI as a strategic partner to getreceivables into the cloud was an easy decision once we saw the value ETran could bring our company.” FTNI at Waste Expo 2015 ------------------------------------ About Parks & Sons of Sun City, Inc. (Parks & Sons) About FTNIPreparing for exponential growth, Parks & Sons of Sun City, Inc. teams up with Financial
Transmission Network, Inc. (FTNI) to streamline its payment processing systems and enrich itscustomer service experience.
implementation of ETran, FTNI’s integrated receivables processing solution.
FTNI will be onsite exhibiting at Waste Expo 2015 at the Las Vegas Convention Center, June 2-4 in Las Vegas,NV. Visit FTNI in booth 4220 to learn more about this and other successful implementations of the ETranintegrated receivables hub. To request an onsite meeting at the event, please email SimplifyAR@ftni.com.
Family-owned and locally-operated, Parks & Sons of Sun City, Ariz. was founded in 1964 by Ray Parks. Thecompany provides residential, commercial and industrial refuse collection services to residents and businessesthroughout the West Valley. In 1991, Parks & Sons, working with other organizations, started curbsiderecycling to divert paper (i.e. newspapers, junk mail, magazines and phonebooks) from the landfill. In 2009,Parks & Sons expanded recycling and implemented a state-of-the art, single-stream recycling program forcommercial and residential customers. Paper, plastics, glass, aluminum/tin, and cardboard are all collected andreproduced into consumer goods. Parks & Sons’ leadership in the industry developed programs with greatsuccess that continues today. Visit parksandsons.com for more information.
Financial Transmission Network, Inc. (FTNI) accelerates the way businesses accept, process, post and managepayments. Processing millions of transactions monthly, FTNI’s integrated receivables processing solution,ETran, accepts any payment method, via any payment channel—on a single, secure, cloud-based platform.FTNI’s ETran Mobile application is built upon the core ETran platform and is available on both Android andiOS, and can be delivered as either a fully-hosted, stand-along application or via SDKs for integration intoexisting mobile applications. Founded in 2007, FTNI serves more than 16,000 corporate users from leadingorganizations such as the American Red Cross, DirectBuy, Five Star Senior Living, Golden Living, Mutual ofOmaha, Penn Mutual, Physicians Mutual Insurance, Proxibid, RealPage, Shamrock Foods, The McClatchyCompany and many more. For more information, visit www.ftni.com.Download the PDF
Topics: accounts receivables Cloud
