BirchStreet and Fintech Announce Strategic Partnership
Newport Beach, CA – January 2, 2014 – BirchStreet Systems, the leading procure-to-pay solution provider for the hospitality industry, and Fintech, the leader in providing electronic data and payments to the alcohol industry, announced their strategic partnership. Many of BirchStreet’s and Fintech’s mutual customers, such as Marriott, Hyatt, Four Seasons, Trump, Omni and other hotels, have already taken advantage of both companies’ solutions. Businesses that can benefit most using Fintech and BirchStreet have similar procurement needs in food and beverage (F&B), and usually carry alcohol. The new relationship mutually benefits both companies’ customers by streamlining the procurement and compliance processes.
Currently, in the United States, payment laws for alcohol purchases vary across each state and by product – beer, wine and liquor. Many states require payment upon delivery (COD). Fintech is the only electronic funds transfer (EFT) provider approved by all 50 state alcohol regulatory agencies. The Fintech system also allows businesses to not only eliminate the use of checks, cash and money orders, but additionally helps retailers recover their escrow deposits from their distributors. Therefore, Fintech provides the missing link to buy alcohol and streamline the procure-to-pay process within BirchStreet while maintaining compliance.
In addition, businesses can centralize their procurement into one fluid system within the BirchStreet platform. BirchStreet has integrated with Fintech, which allows BirchStreet to capture all of a customer’s spend data including line item details, tracking and reporting as well as completing the procure-to-pay process. Fintech provides in-depth insight into alcohol purchasing history to show clients where they are spending money, where it can be saved and outline their purchase habits. Combined with BirchStreet, both platforms provide visibility, compliance, control and efficiency to give customers bottom line profits.
BirchStreet looks forward to building and strengthening the relationship with Fintech! And, if you happen to need a better way to pay for alcohol, click here to try a free 30-day trial with Fintech for all BirchStreet customers.
About BirchStreet Systems, Inc.
BirchStreet Systems, Inc. provides global enterprises with a complete procure-to-pay business solution deploying a SaaS model using cloud-based technology. BirchStreet software focuses on improving business processes by integrating eProcurement, AP Automation, Inventory Control, Spend Analytics, Recipe Management and Capital Budget Management modules. Thousands of businesses in over 78 countries currently subscribe to BirchStreet to connect and do business with a network of more than 200,000 suppliers. Established in 2002, BirchStreet is privately held and is headquartered in Newport Beach, California with offices in China and India. For more information on BirchStreet Systems, please visit www.BirchStreet.net, become a fan on facebook at www.facebook.com/birchstreet, follow us on twitter at Twitter.com/BirchStreetSys or follow us on LinkedIn at www.linkedin.com/birchstreet-systems.
Fintech, a U.S. Chamber of Commerce Best Business of the Year winner located in Tampa, Florida, provides electronic data and payments to the alcohol industry, eliminating the need to pay alcohol purchases by cash, check, or money order. Fintech now serves over 260,000 relationships in all 50 states.www.fintech.net.
Leah McEachern, (949) 567-7081; firstname.lastname@example.org