May 2009
Time is Money

It's an old cliche, but to what extent do you really apply it to your business? In this era of economic difficulty, it is important to make every penny and minute count, as time is money. Waste within a company's operational processes represent an enormous expense of both time and money which can be dramatically decreased through more efficient operations.
Successful companies strive to drive out waste and activities that do not directly add value by developing lean operational management procedures.

Overhead and inefficiency costs are incurred by crucial processing costs, including:
  • Physically receiving and processing purchase orders, invoices and payments
  • Manually sending paper invoices
  • Using checks/money orders
  • Personally checking inventory
  • Ordering necessary raw materials by phone, fax or e-mail
  • Preparing and mailing invoice payments
  • Delivery Processing
  • Invoice reconciliation
  • Credit Processing and reconciliation
  • Bank Processing
One step that saves time and money can be implemented immediately - Fintech. By streamlining the alcohol delivery process, Fintech indisputably saves each location thousands of dollars per year. The savings may be higher for larger companies. Using checks, money orders or cash to pay for alcohol deliveries has become a timely and costly process of the past.

Compensation and Reimbursement Processes

The non-electronic process of sending and receiving payments squanders valuable resources. The traditional workflow includes the following:

  1. Invoices are checked in at time of delivery
  2. Credits checked in and reconciled
  3. Check, money order or cash is used for payment
  4. Invoices are manually recorded and reconciled
This workflow creates additional work and excess expense within the operational process. Why pay for paper checks, printer paper, toner, stamps and numerous other office necessities formerly required for proper bookkeeping when there is an easier, more economical way for these processes to be completed?

Electronic Data Interchange

Another method that can be rapidly implemented is the use of Electronic Data Interchange (EDI) to standardize business processes including accounts payable/receivable, order processing, warehousing, logistics, delivery processing, credit tracking and inventory management. The exchange of electronic data can be integrated with numerous in-house systems, to either replace or enhance their current functionality making processes more efficient. Fintech supports EDI X12 data standards, thus producing a more streamlined operational process.

Fintech's EFT payment processes can dramatically decrease overhead costs and the costs associated with the manual activity completion. EDI systems can create invoices from purchase orders and payment actions from invoices, with just a click of a button thus making sending and receiving payments easy and economical while automatically updating the necessary information in your accounting system, thus reducing the chances of errors that can occur through manual entry.

In these challenging economic times, it is important that every process is as efficient as possible, so that money is not spent on unnecessary items. Fintech can help complete an ROI analysis of the cost savings and the expected timeframe to reach those results.

The result will be implementation of lean processes which will not only reduce overall operating costs, but will also save money through the elimination of non-economical business processes.

For more information on how we can save you time and money please contact Fintech Sales at 800.572.0854 x 292 or sales@fintech.net

1 Stacy Bersbach, "Eliminiating Waste In Supply Chain Processes,"Manufacturing.net 24 March. 2009
Fintech Focus on Employees

FINTECH ANNOUNCES NEW EMPLOYEES

TAMPA, Fla. - MAY 7, 2009 - Financial Information Technologies, Inc. (Fintech), has hired three skilled people to join its growing staff:
  • Greg Blence, Quality Assurance Analyst Blence previously worked as a contractor for TECO, 702 N Franklin St. Tampa, FL 33602
  • Larry Mattacchione, Account Executive Mattacchione previously worked as Vice President for Matkion Inc., 2020 Brandon Blvd. West, Brandon, FL 33611
  • Alexandra Schlesinger, Marketing Coordinator
Congratulations Winners!
Please join us in congratulating the winners of our quarterly Fintech Focus newsletter contest! (November 2008):

First Prize - $500 gift certificate to one of a selection of Fintech retailers

Kevin Aspinall - Epoch Restaurant Group

Second Prize - $100 gift certificate to one of a selection of Fintech retailers

Robert Barbo - Heritage Beverage Co.

Third Prize - $50 gift certificate to one of a selection of Fintech retailers

Chuck Graening - Burke Beverage
Michael McKenna - - McKenna's Seafood
Mark Young - HMS Host
Christopher Hanlon - Carrabba's

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
Distributors
Dick's Brewing Co.
Elite Wines of Maryland
Hand Family TN LLC Budweiser Chattanooga
Harlan Wines, LLC
Illini Wine Services, LTD
International Select Wine & Goods
Naselow & Assoc, LLC
Ocean South Importers Inc
Pioneer Hopyard Vineyard
Premium Vintage Wine Co.
RBI Distributing
Signature Spirits
Skandis Fine Wines, LLC
Talon Group Inc.
The olde Mecklenburg Brewery
Vino Lefebvre
Vitis Cellars Corp.
Cellars
Washington Vintners, LLC
World Trade Services


Concessions
BTC Richmond LLC dba Movieland of Blvd Square
Carolina Cinema's LLC
City of Bryan Texas Cuyahoga Lakefront Land
Oaks Golf Club
Flags Beverages Inc.
Memphis Botanic Garden Foundation
RJ Gold Management
Super Star Car Wash


Convenience Stores
Arguindegui Pump N Shop, Ltd
BHS Capital dba Everett Mall Way AMPM
BHS Capital dba Snohomish AMPM
Colwell Oil
Diaz Baton Rouge, LLC
Drake Convenience LLC dba Stop-a-Minit
Empire Petroleum
Woodstock Sunoco
Firelake Entertainment Ctr.
Hot Potato, Inc
Ridgemont International Petroleum of Hollywood
Jasper Oil Company
Piazza Roma, LLC
Pik N Run #14
Port Au Prince, LLC
I-49 Truck Stop
Sagamok Gas & Convenience Store
Springhill Convenience
Star Markets
Texas Motorplex
Vernon Poole & Co., Inc.
Waterway Gas & Wash Co.
ZRN, LLC dba Nooran's Chevron


Grocery
Churchills Perrysburg Ltd.
Market Fresh
Market Square
Rego Brothers
Tom's Food Market
West Bloomfield Market
El Marichi Supermercado #2


 Liquor Store
America's Check Cashing & Liquor
Chalet Party Shoppe, Inc.
Liquor & Tobacco World Corp.
Sycamore Spirits
Cantina Wine and Spirits


Restaurant/Bar
25 Degrees Holdings
Aloha Clear Lake LLC
American Pie Factory of Greenville, LLC
Asia on Illinois, LLC dba Sunda
Atlas in Wonderland LLC dba Mellow Mushroom
Baby Acapulco
Barrio Uno LLC
Barrio Cantina & Grill
BBQ DUN Ltd.
Belford's Steak & Seafood
Benben Ridge Inc dba
Taco Rico
Bob's Boathouse
Bocado dba Branch 27
Brandermill Country Club
Cadesta Inc dba
Melting Pot
Cafe 1431 Inc.
Charlie's Inc.
Chisholm Trail Beverage Co. of TX dba Tamolly's Mexican Restaurant
City of Dalton
Crocodile Bar
Danville Wings 2 LLC
DC/Icon/Group Dallas LLC dba La Condesa Austin
DeLeon Concepts Inc dba Masaryk
Detroit Fish Market
Downtown Q LLC DBA Dreamland BBQ
Easy Street Cafe
ECOC LLC Toma El Charro Inc.
El Goya, LLC / Hula Bay Club/Dukes Retired Sufers Island Bar
G.G. Wichtita LLC, dba Genghis Grill
Game On Metro West, LLC
Gecko Ranch Entertainment dba San Felipes's Cantina
Restaurants Frisco LLC
Gig Harbor Wine Cellars, LLC dba Sip at the Wine Bar & Restaurant
GNS Pizza Inc dba Giordano's on Jackson
Golf World Holdings dba Ocean Breeze Golf Club
Goodman Huang Hospitality dba Gigis Asian Bistro & Dumpling Bar

Hotels
FW Post 8537 Veterans of Foreign Wars
Atlanta Airport Hotel
Courtyard Marriot
ENN Leasing Co.
Residence Inn Jacksonville
Holiday Inn
Mesa Food and Beverage LLC dba Hyatt Place Mesa
W2007 BRV Realty, LP
Courtyard Beaumont
Culinaire Midwest
Restaurant/Bar
Greathouse Restaurants,LLC dba Native New Yorker
Greenville Cow LLC dba Jakes's Hamburgers
High Sendero, Inc.
Hooligan's
Hop Haus Roger Park
Jack's Waterfront Restaurant dba Jacks New Bar
Jackson's Sport Bar & Grill
Jai Thai Restaurant
Jimmy Wilson's Seafood & Chop House
Katy's Great Eats Inc. dba Katy's Grill & Bar
Keller Grover Managment LLC dba San Felipe's Cantina
Las Acquisition Co. INC dba La Senorita Restaurants
LAVI 2 Inc. dba Corner Pocket
LJR Properties, Inc. DBA Sonny's BBQ
Louie's Grill & Bar
Mama Fu's Wolf Ranch dba Mama Fu's
Man Golf Management LLC DBA Coffin Golf Club
Mcpherson Church Southwest Grill
Medieval Times USA
Miguel's Mexican Seafood & Grill
O'Malley's Good Spirits
Paradise Cove Entertainment, LLC / Lighthouse Restaurant
PCI Gaming dba Tallapoosa Lakes Golf Course
Pecin Park Districts dba Park View Golf Course & Lick Creek
Pompano Lane Inc DBA Diamond Strike Lanes Sports Bar
R & R Hospitality, LLC
RJA LLC Dba Elfo's
Rockfish Preston Club
Ronnie Grisanti & Sons Rest
Second Growth at Phipps, LLC dba The Grape
SH Restaurant LLC DBA Harbor Cafe
Ski Lifts Inc.
Small Plates LLC
SMHI, LLC dba Carson Village
South Beach Resort Condominium Association
South Florida Barbecue Inc DBA Sonny's BBQ
Southeastern Pizza Group
Southern Roots Restaurant & Catering
Spiro Holdings, LLC / Olympic Diner
Starfire Golf Club
Stingray's Grill of Brandon LLC
Taco Stand LLC dba San Felipe's Cantina
Tavern Beverage Company
Terra Verde Restaurant
Thanhdo Restaurant
Tijuana Flats#141 LLC
Tijuana Roadhouse Inc.
TK Carrollwood LLC Tilted Kilt Pub & Eatery
Tucano's of Boise, LLLP / RMC, Inc.
University Properties Inc
VAP H Street, LLC / Vatiano
WBG, Inc. dba Frank's Cafe
West Coast Bar B Q Ltd. DBA Sonny's BBQ
Wilken at Towne Center, LLC / Champps Americana
Cincy GM, LLC
Diamond Sports Bar
Elate LLC
Landmark Holdings
Nuthouse Bar & Grill
RP Tracks
Snapperhead Ventrures, LLC / The Lot on Washington
The Duke at Rancho El Dorado
Toby Keith I Love This Bar & Grill
7702 Woodland Center Blvd., Suite 50 | Tampa, FL 33614