Creditron to Deploy Cash Application Solution for Breakthru Beverage Group

By CIOReview | Wednesday, May 11, 2016
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Wally Vogel, President and CEO, Creditron

Wally Vogel, President and CEO, Creditron

Rockville, MD: According to a research from Remittance Coalition, forty-three percent of organizations cite an inability to conveniently post and reconcile receivables among their receivables challenges. Creditron, a provider of receivables automation solutions to government entities, financial institutions, and non-profit organizations, recently proclaimed that the company will deploy a cash application solution for Breakthru Beverage Group (BBG), a company specialized in alcohol beverage, logistics, operations, and sales & marketing, to overcome the challenges involved in the receivables processing.

Creditron’s solutions leverage advanced data recognition, imaging, and workflow technologies. It has wide range of expertise and experience in formulating, deploying and backing up mission-critical defrayal and receivables automation solutions, including lockbox processing, remittance processing, cashiering/walk-up payment receivables automation, distributed capture, and electronic bill presentment and payment (EBPP).

Creditron’s latest technology will allow users to tackle the challenges involved in the payment channels through the Enterprise Cloud Processing (ECP) solution. ECP is a web-based defrayal processing platform that extends real time visibility and control while streamlining clients work flow.

BBG chose Creditron’s ECP solution after a deeper evaluation of available solutions and based on its breadth of functionality and compelling overall cost of ownership. The solution will provide BBG with a business receivables management platform integrating BBG’s unique business and workflow rules. It also provides access to data and images, unapplied cash, audit trails, and exceptions processing tools for all postings through browser-based connectivity.

BBG will be enabled with accelerated cash application and posting, reduced Days Sales Outstanding (DSO) for improved cash availability, enhanced financial visibility, and streamlined exceptions resolution by integrating the receivables processing onto a single image-based platform.