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Alcohol Payments And Next-Generation Reconciliation™ by iControl [Video]

Posted by iControl Marketing on July 21, 2016 9:10:14 AM EDT

The thought of moving to electronic alcohol payments might sound tedious - especially when already faced with the complexities of payment regulations in the alcohol industry. However, payments by cash, check or money order can cause unnecessary inconvenience, risk and inefficiency for both retailers and distributors. Even if you already process alcohol invoices electronically, watching this short video overview of the benefits of iControl's alcohol payments service may convince you it is time for a change:

 

By choosing an industry-leading payments and analytics solution that includes patent-pending technologies that allow you to reconcile alcohol deliveries and receiving records electronically, you will no longer have to worry about payment discrepancies, credit tracking, or invoice reconciliation.

SEE ALSO: The Best Alcohol Payment Processes Have 4 Things In Common

The Right Alcohol Payment Solution for You

Alcohol Payments by iControl gives you the ability to steer clear from many of the recurring payment issues you may have faced in the past. Payments are conducted electronically between retailer and distributor through EFT debiting. Going paperless minimizes the hassle of invoice reconciliation by storing each invoice electronically on a cloud-based platform for easy access. iControl's Alcohol Payments gives retailers and distributors a centralized system to access invoice and payment records, creating more efficient distributor-retailer transactions. 

Staying Compliant With Regulations

Using software for electronic payments means ensuring that it adheres to strict state regulations. Our alcohol Alcohol Payments solution and patent-pending Next-Generation Reconciliation™ is authorized in all 50 states and adheres to all state and local regulations. This ensures that payments made by retailers to their alcohol distributors for their deliveries are always fully compliant with the law - which eliminates the risk of violations that could affect the ability to sell alcohol.

Data Usage Pledge

Alcohol Payments by iControl is also the only alcohol payment solution that offers our customers an exclusive data usage pledge. iControl believes it is our obligation to treat our customers' data as an asset, and that asset belongs to our customers. You can depend on iControl to be responsible and transparent handler of your data.

SEE ALSO: 5 Ways Next-Gen Reconciliation Is Revolutionizing The Alcohol Payment Process

Working With Next-Generation Reconciliation™

Reconciling statements becomes complicated when discrepancies in invoices occur. iControl's patent-pending Next-Generation Reconciliation uses advanced analytics to collect, present and track invoice data and discrepancies in real time, and includes the following key benefits:

  • Line Item Matching - that dynamically matches Vendor line items to Retailer price books that enables a more proactive approach to prevent errors before they occur at the invoice level
  • Vendor Invoice Details - credit amounts are identified automatically at the invoice level, and the subsequent credit request is generated and tracked until resolution
  • Vendor Scorecards - establish greater accountability throughout the distribution network by comparing distributor performance based on key performance metrics such as invoice error rates, delivery invoices without receiving records and total credit amounts
  • Cost Variance Scorecards - provides summaries of cost variances by store, by product and by vendor to obtain a high-level perspective on factors that may be having a broad impact on invoice and receiving accuracy
  • Product Cost Dashboards - allows retailers to assess product unit costs across distributors to ensure the best costs are made available at a regional and store level
  • Category Cost Dashboards - enables retailers to gain control over their profitability projections by providing forecasts for product costs by product category and by Vendor

Contact us at iControl to find out more about our platform that provides easier payments and reconciliation for a more comprehensive view of your entire alcohol business. You can also click below on our Alcohol Payments Savings Calculator to see how much your business could be saving every year with iControl's Alcohol Payments solution.Click here to calculate your savings.

Topics: Alcohol Payments, Next-Generation Reconciliation

Written by iControl Marketing

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