Creditron to implement a Cash Application solution for Breakthru Beverage Group
Monday, May 09, 2016
Creditron, a leading provider of remittance processing and receivables management solutions announced today that it will implement a cash application solution for Breakthru Beverage Group (BBG), one of the nation’s largest and most established wholesale distributors of fine wines and spirits in the United States and Canada.
Creditron’s Enterprise Cloud Processing (ECP) solution will provide BBG with an enterprise receivables management platform incorporating BBG’s unique business and workflow rules. ECP includes browser-based access to images and data, real-time visibility into all receivables processes including unapplied cash, exceptions processing tools, and audit trails for all postings.
Consolidating its receivables processing onto a single image-based platform will enable BBG to accelerate cash application and posting, streamline exceptions resolution, reduce Days Sales Outstanding (DSO) for improved cash availability, and enhance financial visibility.
After an extensive evaluation of available solutions, BBG selected Creditron’s ECP solution based on its breadth of functionality and compelling total cost of ownership.
BBG is one of the nation’s leading distributors of fine wines, spirits, beer and other beverages with operations in 16 states.
Forty-three percent of organizations cite an inability to easily reconcile and post receivables among their receivables challenges, according to research from The Remittance Coalition. Cash application can be an especially time-consuming and labor-intensive task for companies with large volumes of remittances. Automating reconciliation and cash application is a primary reason that companies want to automate their receivables processes.