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3 Big Benefits of EFTDirect for Retailers and Distributors

Posted by Terry Smith on January 22, 2019 8:07:00 AM EST

 What primary need do retailers and distributors have in common? They must have the ability to make and receive payments for alcohol beverage products. But more importantly, it must be convenient, compliant and secure.

eft solutions

In today’s competitive Direct Store Delivery (DSD) environment, distributors and retailers are always looking for that “something extra”. Something that improves their efficiencies and reduces operating costs. Most large retailers, and virtually all alcohol beverage distributors are already using Electronic Funds Transfers (EFT). This is how many larger retailers are paying their distributors for their alcohol deliveries.

Unfortunately, recently, a majority of smaller, independent retailers (on and off-premise), haven’t taken advantage of this technology. Over the last 3 years, iControl has offered a solution called EFTDirect. EFTDirect is an easy way for retailers to pay their distributors for all their alcohol beverage products. The best part is that in almost all cases, it’s free for the retailer.

What are the immediate benefits for the distributor and retailer? It can be summed up in three words; Convenient, Compliant and Secure.

 

Convenience

Distributors delivery time is reduced on average, about 15 minutes per delivery. They don’t have to wait for payment via check, cash or money order. Retailers receive their Alcohol Beverage products deliveries faster and distributors can merchandise their products to better help the retailer sell more product. This also allows more time for the retailer with their customers.

 

Compliance

EFTDirect is authorized in all 50 States. The EFTDirect process ensures 100% of payments are made in accordance with State and Local regulations. Retailers concerns about being in the store when the delivery arrives, so they can make payment, is now a thing of the past. 

 

Security

Retailers don’t have a need for large sums of cash, checks or money orders in the store anymore. Distributors delivery personnel are safer doing their job while not carrying cash, checks or money orders. The end of the day also just got a little better when it comes to reconciling deliveries and payments with the distributor AR department.

 

Distributors and retailers will both realize immediate benefits by embracing EFTDirect. You can learn more about EFTDirect and hear an actual distributor testimonial. Investigate EFTDirect from iControl and see how you can improve your organizations efficiencies and operating costs immediately. 

Get the Alcohol Regulations by State Inforgraphic

Topics: Retail Analytics, EFTDirect

Written by Terry Smith

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