Slocum & Sons Automates Collections Management with Esker's Accounts Receivable Solution
Derby, UK — January 9, 2020 — Esker, a worldwide leader in AI-driven process automation solutions and pioneer in cloud computing, today announced that Slocum & Sons has chosen Esker to automate its collections management and account receivable processes. The fifth-largest wholesale distributor of fine wines and spirits in Connecticut, Slocum & Sons turned to Esker as a result of the company’s partnership with Inventiv, creator of the PocketAdvantage order-entry solution.
Due to state regulatory requirements in Connecticut, Slocum & Sons’ customers are required to pay for spirits and wine within 30 days. If customers exceed these state-regulated credit terms, they are required to go on cash on delivery (COD), making collections the responsibility of sales representatives or drivers.
By implementing Esker’s cloud-based Accounts Receivable solution, Slocum & Sons is equipped to streamline its collections process, making collection activities more efficient for the customer and sales team through automation.
“Due to the nature of our business, our sales representatives are often consumed with following up with customers to collect payments,” said Wally Crumb, CFO at Slocum & Sons. “Esker’s solution will free up time for our sales representatives, enabling them to focus on selling, while maintaining the quality of service our customers expect.”
Esker provides Slocum & Son’s customers the opportunity to better manage their incoming payments with the following benefits:
- Self-service portal for customers to view invoice information, make payments and set up auto-pay
- Automated payment reminders to alert customers when invoices are due to avoid COD status
- Greater visibility, access to data to guide the sales team’s collections efforts
- Improved communication and collaboration between customers and sales
“We first heard about Esker from the folks at Inventiv, who created the point of sale and order-entry software we use,” said Crumb. “The integration between the two solutions gave us peace of mind when deciding to move forward.”
In 2019, Inventiv Software sought a technology partner that could facilitate payments to help companies in the beverage industry leverage technology to drive growth. The resulting partnership between Esker and Inventiv led to the interest and eventual signing of Slocum & Sons as an Esker customer.
“As a software vendor for Slocum & Sons, we have visibility to the amount of time sales reps are spending collecting cheques,” said Jim Harris, Vice President of Sales at Inventiv Software. “The partnership between Inventiv Software and Esker provides Slocum & Sons’ customers an easy way to pay online rather than by cheque.”
About Slocum & Sons
Slocum & Sons is a generations-long fine wine and spirits distributor in Connecticut whose goal is to deliver ever-increasing sales and marketing results for our suppliers; unsurpassed quality, value and selection for our customers; and the strongest commitment to service and professionalism in the marketplace today. Since its inception, Slocum & Sons has acted as both importer and distributor of fine wines within the State of Connecticut. Today's experienced and innovative management has expanded the import side of the business into other markets throughout the United States through its Slocum Imports division. To learn more, visit https://slocumandsons.com/
Esker is a worldwide leader in AI-driven process automation software, helping financial and customer service departments digitally transform their purchase-to-pay (P2P) and order-to-cash (O2C) cycles. Used by more than 6,000 companies worldwide, Esker’s solutions incorporate technologies like artificial intelligence (AI) to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers and internally. Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin. For more information on Esker and its solutions, visit https://www.esker.co.uk. Follow Esker on LinkedIn at Esker – Northern Europe, or on Twitter at @EskerNEurope and join the conversation on the Esker blog.