Wholesail automates the invoicing and payment processes for food distributors by integrating with existing accounting systems to streamline accounts receivable management. This solution reduces late payments by providing customers with real-time access to their billing information, saving distributors an average of 100 hours per month.
Funding
$25.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Food distributors often face challenges with inefficient invoicing and payment processes, leading to delayed payments and time-consuming accounts receivable management. Manual processes for sending reminders, tracking invoices, and processing payments contribute to these inefficiencies. Discrepancies between distributor and customer records further complicate reconciliation and payment accuracy.
Solution
Wholesail provides an accounts receivable automation add-on that integrates with existing accounting systems to streamline invoicing and payment workflows for food distributors. The platform offers customers a self-service portal with real-time access to statements, invoices, credit memos, and payment history, enhancing transparency and reducing payment disputes. By automating payment reminders and providing secure online payment options, Wholesail helps distributors reduce late payments and save time on repetitive AR tasks. The system also facilitates efficient onboarding of new customers with customizable online forms for collecting payment information.
Target Audience
Wholesail primarily targets food and beverage distributors, including those in the beer, wine, and spirits industries, as well as field service companies, ranging from small to large enterprises.
Features
- Integration with QuickBooks Online, QuickBooks Desktop, NetSuite, NetYield, entrée by NECS, Sage 50, Xero, and other accounting systems
- Customer self-service portal providing real-time access to billing information
- Automated payment reminders and notifications
- Secure online payment processing via credit card and other methods
- Customizable online forms for new customer onboarding and credit applications
- Automated reconciliation to reduce accounts payable mistakes
- Reporting and analytics dashboard for tracking key AR metrics