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February 2008 |
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Gasoline Prices Challenge Fintech Distributors
Rising gas prices have increased costs for alcoholic beverage distributors and others using fleets to transport product to their customers. For many distributors, gasoline has become the No. 2 expense behind driver wages. Distributors using Fintech have more of an advantage than before, and the Fintech advantage may increase even more!
The Fintech Advantage
Fintech Distributors gain significant fuel cost savings and increased operational efficiencies with "electronic routes".
Distributors that use Fintech's EFT regulated invoice payment services can substantially offset gasoline costs as well as save precious time. The Fintech OneSourceSM EFT payment program saves distributors an average of 10 to 15 minutes per stop. Consequently, many Fintech Distributors have established electronic routes to focus on EFT clients. For example, a delivery driver with just ten stops per day would typically save at least 100 minutes per route as a result of EFT payments, providing the opportunity for additional delivery stops and direct fuel savings. The electronic route drivers save tremendous time and energy since they no longer need to drive back and forth and do not have to schedule stops and delivery times that correspond to when they can get paid (as required by COD alcohol regulations). Drivers using Fintech EFT services simply drop their products off and payment is automatically facilitated through Fintech on-time, every time. There are Fintech Distributors that have eliminated delivery trucks from their fleet based upon the time savings and increased efficiency from electronic routes.
The Fintech Advantage Could Increase Soon
There is a serious prospect of government action that would compound the problem of higher fuel costs, as NACS Daily reported on January 16, 2008.
Transportation Panel Fuels Gasoline Tax, NACS Daily, January 16, 2008
WASHINGTON - The National Surface Transportation Policy and Revenue Study Commission, which spent the last 22 months exploring new ways for the United States to pay for its transportation needs, is recommending that the current 18.4 cents per gallon gasoline tax increase by 25 to 40 cents in five years.
According to Congress Daily, nine of the 12 commissioners support the federal gasoline tax increase, noting it has not been raised since 1993. "We believe it can be raised if you go to the people with a clear mission with what it's going to be used for," said Jack Schenendorf, vice chairman of the panel, adding that the tax increase would cost motorists between 41 cents and 66 cents a day.
The three panelists opposed the tax increase, including current U.S. Transportation Secretary Peters, former deputy Transportation Secretary Maria Cino and Cornell University professor Rick Geddes, also dissented on the recommendation that the federal government continue to contribute 40 percent of the revenue needed for transportation infrastructure, writes Congress Daily. "The public correctly understands that increased fuel taxes will not remedy the woefully inadequate transportation system performance they so frequently experience today," the dissenters wrote.
The Fintech Solution
Fintech both opposes the burdens on distributors that would result from any fuel tax increase and offers a delivery and payments solution that lowers costs.
Please contact Chad Hardwick, Vice President of Sales at 1.800.572.0854, x 262 to discuss The Fintech Advantage and learn more about increasing operational efficiency.
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Just how important are relationships and relationship efficiency? Recently, a Fintech client was placed on a statewide No Sale List because a store manager was late paying a special order term invoice by check. This affected every one of it's retail locations in the state as each location was placed on the No Sale List. The offending retail location was trading with all of its other relationships via Fintech but not this particular special order relationship. Had this relationship been trading via Fintech, the retailer would not have been placed on a statewide No Sale List as the invoice would have been processed for payment, on time, by Fintech.
Fintech offers several tools to help you maximize your investment in Fintech. We send weekly e-mails that alert you when a trading relationship has not processed after 30 days of going active. Additionally, we show your Relationship Efficiency on the FTX® Internet Services Home Page. It benefits you to pay close attention to these e-mails and to routinely monitor your relationship efficiency using FTX Internet Services.
Your relationship efficiency reports can be accessed from the FTX Internet Services home page or from the Reports page. The report will give you options to review all of your trading relationships sorted by trading partner and see whether relationships are processing or not. To remove or add relationships for a trading partner, simply contact Fintech Customer Support or click here.
To learn more about this feature as well as other FTX features, you can access Frequently Asked Questions (FAQS), Helpful Hints or the FTX Demo from the FTX Home Page.
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Click here to enter the contest!
Enter our quarterly contest to win a gift certificate to one of a selection of Fintech retailers such as Target, Costco, Kroger, Exxon, Applebees, Outback and others!
First Prize (1 winner)
$500 gift certificate
Second Prize (1 winner)
$100 gift certificate
Third Prize (5 winners)
$50 gift certificate
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Distributors
A to Z Importers
Allison Oaks Vineyards
Atlanta World Liquor
Behind The Cellar Door Imports
Candid Wines
Chisago Lakes Distributing
Compass Wine Group GA
Connoisseur Spirits
East-West Wines
Falls Distributing Co.
Farpointe Cellar
Harmony Hill Vineyards
Holiday Wine & Liquor
Hy-vee (Carroll)
Juice Wine Purveyor
Live Oak Brewing
Megawine
Millstream Brewing Co.
Prana Spirits
Republic National Dist.-Tucson
Southern Eagle Distributing
Summit Distributing
T & TK Distributors
The Beer Company
Tri County Beverage
W.O.W. Distributing Co.
Concessions
Brave New Workshop
Champions Retreat Golf Club
Emirates Airline
Greater Des Moines Ice Center
Skybus Airline
Wildewood Downs
Supermarkets
Ann Arbor Market LLC
Oak Point Fresh Market
Larry's Foodland
Plumb's
City Market
Other
Robert L Carver Post 269
Fircrest Golf Club
Satellite Beach Moose Lodge 2367
Soaring Eagle Casino |
Convenience Stores
1530 Main Street Beverages
Adair's
Arshad Chevron
East 47 Marathon
Brand Eateries
Brander Mill Shell
Brayco
Royal Car Wash#4-Plano
Giant Dayton
Giant Ohio
JIB Store
Kasana Shell
McCormick Food & Gas
Mercer Market
NADA Group
Nouria Energy Corp
Ric's Food Center-Cannon
Ridgeway Petroleum
Royal Car Wash #5
Russell Oil Co.
Staples Mill Shell
Polo Market
Wendell Mart
Westgate Market
Hotels
Best Western Regency Inn
Dallas Marriott Suites
Dallas Quorum Marriott
Rich Burlington Hotel
Liquor Stores
Pour House Bottle Shop
Restaurant/Bar
A & E Grill
Alexandre's Bar
Aloha Austin
Aloha Richmond
Aloha Woodlands
Areas USA
Bagger Dave's
Bar Louie - Clinton
Bar Louie - Columbia
Barcelona Tapas Restaurant
Blue Wasabi
Bombay Spice Grill & Wine One
Bon Appetite
Boston's Restaurant & Sports Bar
Buffalo Wild Wings - Scottsdale
Buffalo Wild Wings - Longwood
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Restaurant/Bar
Camden Country Club
Ceviche Tapas Bayshore
Ceviche Tapas Beach Dr.
Ceviche Tapas Church St.
Ceviche Tapas Sarasota
Chalak Restaurants Ft.Worth
Conch Company
Creek Family Restaurant
Crispers
Crown Sports Pub
Devito South Beach
El Chico
Fish City Grill
Granite City Food & Brewery
Gringo's Mexican Kitchen
Halftime Sports Grill
Hoffen & Hoffen
Hurricane Grill and Wings
Iron Chefs
Jakes Hamburgers
Kabuki Restaurants
Kazbor's Grille - Plant City
MacGregor Downs Country Club
Mama Fu's Triangle
Marriott Towneplace suites
Max & Erma's Dulles
Mellow Mushroom
Mike Baird
Mulleady's Irish Pub
North Pointe Tavern
Oaklawn Culinary Group
Oasis Arlington Restaurants
Prestonwood Culinary Group
Quatro Banditos
Reginellis Pizzeria Corp.
Roka Restaurant
Rosie O' Grady's
Salsarita's Alabaster
Salsarita's Homewood
Shlomo & Vito's New York Deli
Snapper's Bar & Grill
Sweet Origines
Tastings Wine Bar & Bistro
Taziki's Greek Fare
The 1400 Bar & Grill
The Dug Out
The Grape
Tijuana Flats
Tijuana Flats # 129
Tijuana Flats # 133
Tijuana Flats # 134
Tijuana Flats # 135
Tijuana Flats # 136
Tijuana Flats # 137
Tijuana Flats #1503
Trax Sports Cafe & Music Hall
Twin Peaks Mesquite
Two Curly Q's
Typhoon Restaurants
Vernon's
Vic & Angelo's Coal Oven
Wings Etc.
Wings Gone Wild
Wonder Bar |
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| 7702 Woodland Center Blvd., Suite 50 | Tampa, FL 33614 |
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