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VIP, iControl Announce Partnership to Facilitate Alcohol EFT Payments
VIP, iControl Announce Partnership to Facilitate Alcohol EFT Payments.
COLCHESTER, VT and BURTONSVILLE, MD, September 9, 2014 – Vermont Information Processing (VIP), the leading route accounting software provider to the beverage industry, and data and payment processing leader iControl Data Solutions (iControl), announced today that they have entered a strategic multiyear agreement to jointly facilitate EFT payment services to the alcohol industry.VIP has been servicing the beverage industry for over 40 years and is the most widely installed platform utilized by beverage distributors today. iControl has been providing data analytics and payment processing solutions to the DSD supply chain for nearly 10 years, and currently services over 3,000 distributors and over 30,000 retail outlets in all 50 states and Puerto Rico.
Through this agreement, VIP and iControl are committed to the goal of lowering the overall cost of EFT payments to increase industry adoption and collaboration among retailers and distributors. iControl is fast becoming the choice of forward thinking retailers and distributors whose business demands a more economical EFT payment solution bundled with a cloud-based category maintenance and management platform.
“We are very pleased to participate with iControl by providing a seamless interface to the VIP software,” said Dan Byrnes, VIP’s President. “We believe the cost effective, robust solution offered by iControl represents a significant cost and time saving opportunity for our distributor and retailer partners.”
“The high cost of EFT payments has been an inhibitor to broader adoption by the alcohol industry,” said iControl’s Chairman and Co-CEO Tal J. Zlotnitsky. “As we continue our aggressive expansion into this sector, our focus is on providing an option that will significantly increase EFT implementation by offering more value at a far lower cost than what has been available. VIP is a highly-respected company in the distributor community, and we have tremendous respect for the VIP team. The partnership with VIP is a wonderful opportunity to jointly provide the alcohol industry with a superior value proposition.”
VIP is a leader in providing innovative business solutions to the beverage industry, and has been for over 40 years. We work exclusively with beverage distributors and suppliers, and have solutions for all three tiers of the beverage industry. On the distributor / bottler side, VIP has almost a 60% market share among beer distributors in the country, and a growing number of independent Pepsi and soda bottlers are using the VIP Beverage System. VIP provides data collection and analysis tools to over 200 beverage suppliers. For more information about VIP, visit www.vtinfo.com.
iControl is a leading provider of financial transaction facilitation and collaborative business intelligence solutions geared primarily to the food, drug and convenience value chain. We make it easier for trade partners to conduct business more efficiently and promote fact-based, timely, data-driven decisions that boost sales, reduce waste, promote efficiency, reward transparency, and align performance metrics. We process and remit funds for over 5.4 million invoices annually, while providing real-time visibility to inventory and sales data from over 30,000 retail outlets in all 50 states, to both retailers and our network of over 3,000 distributors and manufacturers. The iControl Regulated Commerce Solution, available in all 50 states, is the choice of forward-thinking retailers and distributors within the alcohol industry who are seeking economical EFT payments and greater collaboration around data and analytics. For more information about iControl, visit www.icontroldata.net.