Two Franchising Suppliers Combine Strengths to Create Powerful Technology Tools
Friday, January 5, 2007
Two Franchising Suppliers Combine Strengths to Create Powerful Technology Tools
December 20, 2006 - IFX Online, an applications service provider specializing in fully integrated web-based management solutions for franchise organizations, and Franchise Payments Network (FPN), the only electronic payments processing company to focus solely on the franchise segment, have joined forces to create comprehensive technology solutions to streamline online ordering, royalty reporting and payment, and monetary transaction of purchases.
“Over the years, IFX has continually improved upon our technology to create sophisticated online systems that allow franchisors to gather information and track the sales and royalty fees for each franchisee online,” said Dan Martin, founder and president of IFX Online. “The missing link was that we had to utilize multiple companies with widely varying methods to process payments. Now, FPN completes the picture.”
IFX Online, which develops and hosts Intranet and Extranet systems for more than 190 franchise concepts internationally, provides a series of technology solutions to support franchise operations, including sales and royalty reporting, financial data analysis, franchise lead management, as well as online ad creation systems and website development/hosting services for individual franchise owners. Meanwhile, FPN specializes in technology that helps streamline the purchasing process, combining the buying power of all of its clients to achieve a more cost-effective solution.
By combining various facets of IFX/FPN technologies, franchisees will now be able to review and order unlimited products, and pay online by credit card or automatic clearing house (ACH), which is instantly deducted from the franchisee’s bank account. This solution also alleviates risk to vendors, which may encourage them to give franchisees increased wholesale discounts.
“This partnership makes ordering products easier, more cost-effective and less stressful for franchisees, vendors and franchisors,” said Tom Epstein, president and CEO of FPN. “Our payments are made in real time which enables the franchisor to get their payments quicker and increases cash flow. Gone are the days of mailing out invoices and waiting for a check in the mail.”
Key FPN modules that are “powering” the new capabilities include ACT, a secure online channel designed to streamline franchisee purchasing from a third party vendor, and Automated Royalty Transaction (ART). The Automated Royalty Transaction (ART) is another program in the e-commerce solution, allowing franchisors to conduct sales and royalty payments online using IFX’s secure technology and FPN’s payments software. Most franchise companies have a sales reporting module in which franchisees input their sales data manually. Another component, SRM, enables franchisees to submit royalty and sales payments electronically into a secure database. This application also calculates the franchisees’ contribution to the marketing fund and royalty fees. Once the data is submitted, franchisors and franchisees can run reports on data.
For example, when a franchisee makes a purchase via IFX’s e-commerce module, a series of reports are provided to the franchisor. The franchisor can monitor franchisee purchasing patterns, compare the data to uncover patterns and create a metrics breakdown. The franchisor can then create a system to ensure that franchisees don’t over-spend, order too much or too little of a certain product.
“This partnership provides franchisors with soup-to-nuts solutions for virtually all of their online management systems,” Martin said. “They get to keep a closer eye on franchisee spending, and vendors receive automatic payment for their orders and franchisors. It’s basically a win-win-win for everyone involved,” he said.
About IFX Online
IFX Online is an applications service provider specializing in the development of fully integrated web-based management solutions for franchise organizations. IFX develops and hosts Intranet and Extranet systems to help franchise companies manage their communications and support operations. IFX International offers modules to manage Sales and Royalty Reporting, Financial Data Analysis and Franchise Lead Management. Also available are online ad creation systems and website development/hosting services for franchise owners. IFX International develops, hosts and maintains web-based management systems for more than160 franchise concepts internationally. Since debuting its system in 1996, IFX International has developed a strong global presence in the franchise industry, representing such industry leaders as Ben & Jerry’s, Chem-Dry, IHOP Restaurants, GNC and McAllister’s Deli.
About Franchise Payments Network (FPN)
Franchise Payments Network is the only electronic payments processing company that focuses entirely on the franchise industry. A partner with three of the top five processors, FPN gives its franchise clients the flexibility to customize a solution that best suits the nee
December 20, 2006 - IFX Online, an applications service provider specializing in fully integrated web-based management solutions for franchise organizations, and Franchise Payments Network (FPN), the only electronic payments processing company to focus solely on the franchise segment, have joined forces to create comprehensive technology solutions to streamline online ordering, royalty reporting and payment, and monetary transaction of purchases.
“Over the years, IFX has continually improved upon our technology to create sophisticated online systems that allow franchisors to gather information and track the sales and royalty fees for each franchisee online,” said Dan Martin, founder and president of IFX Online. “The missing link was that we had to utilize multiple companies with widely varying methods to process payments. Now, FPN completes the picture.”
IFX Online, which develops and hosts Intranet and Extranet systems for more than 190 franchise concepts internationally, provides a series of technology solutions to support franchise operations, including sales and royalty reporting, financial data analysis, franchise lead management, as well as online ad creation systems and website development/hosting services for individual franchise owners. Meanwhile, FPN specializes in technology that helps streamline the purchasing process, combining the buying power of all of its clients to achieve a more cost-effective solution.
By combining various facets of IFX/FPN technologies, franchisees will now be able to review and order unlimited products, and pay online by credit card or automatic clearing house (ACH), which is instantly deducted from the franchisee’s bank account. This solution also alleviates risk to vendors, which may encourage them to give franchisees increased wholesale discounts.
“This partnership makes ordering products easier, more cost-effective and less stressful for franchisees, vendors and franchisors,” said Tom Epstein, president and CEO of FPN. “Our payments are made in real time which enables the franchisor to get their payments quicker and increases cash flow. Gone are the days of mailing out invoices and waiting for a check in the mail.”
Key FPN modules that are “powering” the new capabilities include ACT, a secure online channel designed to streamline franchisee purchasing from a third party vendor, and Automated Royalty Transaction (ART). The Automated Royalty Transaction (ART) is another program in the e-commerce solution, allowing franchisors to conduct sales and royalty payments online using IFX’s secure technology and FPN’s payments software. Most franchise companies have a sales reporting module in which franchisees input their sales data manually. Another component, SRM, enables franchisees to submit royalty and sales payments electronically into a secure database. This application also calculates the franchisees’ contribution to the marketing fund and royalty fees. Once the data is submitted, franchisors and franchisees can run reports on data.
For example, when a franchisee makes a purchase via IFX’s e-commerce module, a series of reports are provided to the franchisor. The franchisor can monitor franchisee purchasing patterns, compare the data to uncover patterns and create a metrics breakdown. The franchisor can then create a system to ensure that franchisees don’t over-spend, order too much or too little of a certain product.
“This partnership provides franchisors with soup-to-nuts solutions for virtually all of their online management systems,” Martin said. “They get to keep a closer eye on franchisee spending, and vendors receive automatic payment for their orders and franchisors. It’s basically a win-win-win for everyone involved,” he said.
About IFX Online
IFX Online is an applications service provider specializing in the development of fully integrated web-based management solutions for franchise organizations. IFX develops and hosts Intranet and Extranet systems to help franchise companies manage their communications and support operations. IFX International offers modules to manage Sales and Royalty Reporting, Financial Data Analysis and Franchise Lead Management. Also available are online ad creation systems and website development/hosting services for franchise owners. IFX International develops, hosts and maintains web-based management systems for more than160 franchise concepts internationally. Since debuting its system in 1996, IFX International has developed a strong global presence in the franchise industry, representing such industry leaders as Ben & Jerry’s, Chem-Dry, IHOP Restaurants, GNC and McAllister’s Deli.
About Franchise Payments Network (FPN)
Franchise Payments Network is the only electronic payments processing company that focuses entirely on the franchise industry. A partner with three of the top five processors, FPN gives its franchise clients the flexibility to customize a solution that best suits the nee
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