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Insights on Payments and Finance from AOC Solutions

AOC Solutions Leaders Earn SmartCEO Recognition

Published: March 15, 2017  |  Author: Liza Welch

Pardon us while we brag a bit on the accomplishments of three AOC Solutions company leaders. Because these guys are awesome.

On March 9, the following AOC team members received 2017 Executive Management Awards from SmartCEO: Dan Seewer, Chief Technology Officer; Todd King, Chief Product Officer; and Gene Bell, Senior Vice President of Operations. 

Top 5 Benefits of Accounts Payable Automation and Electronic Payments

Published: March 02, 2017  |  Author: Kelly Atchley

According to a recent survey of controllers conducted by the Institute of Finance and Management (IOFM), accounts payable topped the list as the most time-consuming, laborious and paper-intensive finance and administration function — ahead of even payroll, tax and audit. The same controllers stated that accounts payable is a top priority for improvement this year.

It’s no secret that accounts payable automation and e-payments turn labor-intensive manual processes into more efficient ones that ultimately reduce costs. But for most organizations, part of the process to automate accounts payable and embrace e-payments is convincing both C-suite executives and AP staff why now is the time to automate and migrate away from manual processes and check payments.

Financial Institutions: Offer Virtual Cards Powered by Transact Global

Published: February 15, 2017  |  Author: AOC Solutions staff

On April 11, 2016, AOC Solutions revolutionized the payments industry by introducing Transact Global®, the first issuer processing platform dedicated exclusively to single-use virtual card payments. Designed specifically for financial institutions and corporate card issuers, Transact Global allows banks to offer virtual cards to their corporate customers.

“Virtual cards are on the rise, and for good reason,” says Steve Tackett, Senior Vice President of Product Innovation at AOC Solutions. “Virtual cards offer better user control and fraud protection than traditional plastic credit cards. AOC’s bet is that in the next 5–10 years, virtual card use could overtake plastic in B2B payments." 

New AFP Report Reveals Top Benefits of Electronic Payments

Published: February 01, 2017  |  Author: Carol Schick

The recent release of the 2016 AFP Electronic Payments Survey Report from the Association of Financial Professionals reveals several enlightening trends concerning electronic payments use and acceptance in business-to-business transactions. The report covers survey results on faster payments initiatives, continued use of checks for disbursements and collections, top B2B payment methods, cross-border payments, mobile payments, same-day ACH and much more.

The survey responses on benefits gained by sending or receiving electronic payments were particularly interesting:

5 Ways to Increase Performance and Improve Processes in Accounts Payable

Published: January 25, 2017  |  Author: Gene Bell

In a recent survey of controllers conducted by the Institute of Finance and Management (IOFM), accounts payable topped the list as the most time-consuming, laborious and paper-intensive finance and administrative function — ahead of areas such as payroll, tax, and even audit and reporting.

Given that, over 63 percent of controllers in that same survey said accounts payable is a priority for improvement.  But, for most organizations, improving accounts payable is easier said than done.

All Aboard! Who’s Getting on the Blockchain Train?

Published: January 10, 2017  |  Author: AOC Solutions staff

Last summer, we chatted with Kara Szostek Lunsford, director of Product Management for AOC’s companion company, 3Delta Systems, about blockchain’s mainstream potential in the payments industry. But if there’s one thing we’ve learned about blockchain, it’s that things change quickly.

Companies pursued some 356 patents related to blockchain in November alone, and 12 percent of executives in financial services have deployed blockchain in production, according to the experts at PYMNTS.com.

Payments in 2016: The Year Of…

Published: January 05, 2017  |  Author: AOC Solutions staff

What had the biggest impact on payments in 2016? EMV chip cards? APIs? Mobile payments? Cryptocurrency? Blockchain technology? Omnichannel commerce? Without a doubt, each of these things, and more, will be a driving influence on the future of payments going forward.

But what do industry leaders from Intel, MineralTree, Synchrony Financial, and our very own AOC Solutions (among others) have to say about it?