The Green Sheet Online Edition
March 3, 2025 • 25:03:02
Help merchants reduce late payments with proactive collections
Financial Transmission Network Inc., a provider of accounts receivable (A/R) automation solutions, launched its ETran Proactive Collections Module, designed to help businesses reduce overdue payments and improve cash flow.
The new module automates invoice notifications and customized payment reminders, ensuring that customers receive timely alerts before and after due dates. These reminders persist until payments are made, which can significantly cut down on delays and reduce the burden of manual follow-ups.
"In today's fast-paced business environment, timely collections are essential for financial stability," said Michael Thompson, vice president of operations at FTNI. "Our Proactive Collections Module empowers businesses with automated, targeted communications that help reduce overdue payments and enhance operational efficiency." FTNI listed the following key features of the ETran Proactive Collections Module:
- Automated payment reminders: Businesses can set up customized follow-ups based on due dates, ensuring that invoices don't slip through the cracks.
- Real-time aging reports: Provides comprehensive insights into outstanding invoices and overdue payments, helping businesses prioritize collections efforts.
- Secure embedded payment links: Customers receive a direct link to a secure online payment portal, making it easy to settle their balances quickly.
- Seamless integration: The module works with existing banking and payment processing systems, supporting both batch and real-time data synchronization.
This enhancement is part of FTNI's ETran integrated receivables platform, a cloud-based system used by businesses across multiple industries in the United States and Canada, the company stated. ETran's flexibility and plug-and-play integration are designed to allow organizations to automate every stage of the A/R lifecycle—from invoice presentment and payment acceptance to remittance data capture and cash application.
FTNI affirmed that its customers have reported faster collections, fewer delinquencies and improved cash flow since adopting the platform. The Proactive Collections Module further refines these processes, giving businesses a more effective way to manage receivables without increasing staff workload.
"The ability to automate and customize collections workflows is a game-changer for businesses," Thompson said. "By enabling proactive engagement with customers, we're helping businesses drive faster payments and enhance financial stability."
The ETran Proactive Collections Module is now available for businesses looking to optimize their accounts receivable management. For more information, visit ftni.com. .
Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.
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