Fintech Fuels Growth with Partner, FACTOR
Fintech announces a new partnership
with FACTOR, a leading back office accounting solution for the convenience industry. Through the alliance, FACTOR will offer Fintech’s electronic payment
and data services
to its petroleum marketing customers nationwide.
Fintech provides direct insight into FACTOR customers’ alcohol purchasing data, simplifying invoice information into actionable reporting that helps them make smarter purchases.
FACTOR helps clients manage their back office accounting operations so they can focus on increasing profitability and growing their business. The company implements back office tools and processes to give retailers data and visibility into such critical aspects of their business as financial reporting, daily accounting controls, operation analysis and more.
For more information about Fintech’s partnerships, please click here.
Beer Battle in Tennessee
Tennessee’s wholesale beer distributors are pushing legislation that would ban beer brewers from buying or owning their own distributorships in the state. Beer wholesalers argue that it protects competition by maintaining the state’s “three-tier” legal system of financial firewalls between the manufacturing, distributing and retailing of alcoholic beverages.
Tennessee’s laws regulating liquor already ban manufacturers of distilled spirits from owning liquor wholesale and retail businesses in the state. Members of the Tennessee Malt Beverage Association suggest the bill would close a loophole in the system for beer, even though no beer brewer currently owns a wholesale distributorship in the state.
Tennessee’s burgeoning craft beer industry benefits from an exemption in existing whereby brewers may sell their own product at retail. Specifically, the law allows them to have tap rooms on the premises and to distribute beer to retailers within the county where their breweries are located.