Just about every brewery owner would say they got into the brewing industry because they have a passion for craft beer. Craft beverage software and system integrations likely weren’t top of mind. In fact, many begin brewing beer in garages, experimenting with the process and recipes before moving up to dedicated facilities when they realize they could make a go of it. That’s often when reality hits.
Brewing beer is complicated, as is managing distribution, tap rooms and other variables. With so many moving parts and interdependencies in crafting a winning brew, it’s easy to get lost in the brewing process and lose sight of the financial operations side of the business.
When you boil it all down, it’s about ensuring you have the money coming in to cover your expenses. Toast says monthly expenses in the first few years of operating a brewery consume up to 90% of monthly sales, making it critical to find ways to gain visibility into every business area, get paid faster, and operate as efficiently as possible.
Why Ekos Prioritizes Integrations
Ekos continually expands our integration capabilities with business systems because we understand the value of connected data. It’s no doubt one of the reasons we have been considered the leading craft beverage business management software provider since 2014.
One such integration is with Fintech. Fintech introduces a powerful integration into our portfolio, leveraging over 32 years of expertise in electric funds transfer (EFT) and customer relationship management (CRM) through its Lilypad platform. This partnership has been instrumental in revolutionizing how alcohol producers, distributors, and suppliers manage and automate the financial aspects of alcohol sales.
Specifically, it simplifies the automation of alcohol invoice payments, enhances payment collection processes, and supports in-depth data analysis and capture. By integrating Fintech’s services, Ekos provides a seamless way for its users to transfer sales data into Fintech. Both Ekos and Fintech users benefit from a more efficient, accurate, and time-saving financial management system, ensuring that businesses can focus more on their core activities and less on the complexities of financial administration.
“We have a long-term partnership with Fintech that has helped our customers to reduce hundreds of hours and get their money faster than they could have by themselves, says Josh McKinney, president of Ekos. “It’s one of our earliest integrations, and we often hear that the time savings and efficiency improvements are enough to justify the cost of our software.”
From the Fintech side, the partnership is equally advantageous for users. “Ekos software is one of the preferred integration partners Fintech works with for their self-distributing craft brewers, wineries and cideries,” says Jim Kallies, director of Distributor & Supplier Accounts at Fintech. “Ekos seamlessly integrates with Fintech to send line-item invoice information for secure on-time payments according to State and Federal alcohol laws. It saves hours of labor costs compared to manually inputting the line-item invoice information retailers need for timely payments and management of their alcohol category.”
Whether you are an Ekos user or a fan of Fintech, this integration is great news. By leveraging the Ekos/Fintech integration, you can reap significant benefits that directly impact your operational efficiency and financial performance.
4 Benefits of the Ekos/Fintech Integration
We have quite a few customers enjoying the Ekos/Fintech integration, and we asked them for feedback on how the integration was going. We gathered the top four benefits mentioned by actual users to demonstrate the true value of this specific integration.
Streamlined Invoice Processing
By quickly summarizing all Fintech invoices, we can add back minutes, and in some cases, hours to our customers’ weeks. All they have to do is click a button, and the information is automatically populated in the format they need to upload to the Fintech site. What does it look like for customers who don’t take advantage of the integration? Manual inputting invoice information for each Fintech customer they sell to—every quantity, item, packaging type, and price.
Accelerated Payment Cycles
When you can invoice faster, you get paid faster for a healthier cash flow. And because the integration reduces human error, there are no “oops” in invoicing that can further delay payment. Fintech’s PaymentSource automates payment collection with your retailers for COD and term invoices so you get paid on the due date. You can also see how many invoices are outstanding and paid so you always have an accurate view of cash flow and accounts receivable. These insights help you make business decisions in Ekos, such as when to purchase raw materials.
Significant Time and Cost Savings
Manual entries are bad enough when it comes to efficiency. Add to that the time it takes to track down information in disparate systems or from team members, and it’s easy to see where so much valuable time goes. That time has a cost to it, and those costs add up. Our integration reduces the time it takes to manage payments so you can get that time back to invest in strategic growth.
Combined Industry Expertise
Ekos has been in the craft beverage business since 2014. Fintech has been at it since 1991. With so many pop-up providers that come and go, our customers have peace of mind we’re not going anywhere and we bring unparalleled combined industry experience. Both Ekos and Fintech have stellar reputations and are considered leaders in the industry. We know what works, what doesn’t, and what our customers really need to run their businesses smarter, more efficiently and cost-effectively.
We invite you to explore Ekos and Fintech and the many integrations each offers to help you streamline your operations. You may have a winning brew, but without smart back-office operations and integrated technology, realizing and maintaining profitability is an uphill climb. Why wait to transform your passion into a more profitable venture? Visit goekos.com to schedule your free personalized demo and see firsthand how our integrated solutions can revolutionize your business.
