PRESS RELEASE LONG BEACH, Calif., June 11, 2019 —
AeroPay Express and ACOM form Alliance Partnership to provide AP Supplier Payment Automation
ACOM Solutions and AeroPay Express announce a new alliance partnership with the launch of an intelligent platform for managing supplier payments . A leading payment technology provider, ACOM transforms the way companies pay suppliers by intelligently determining the best way to pay and complete their transactions automatically. AeroPay Express is a top financial innovator and provider of supply chain financing credit solutions to buyers throughout the US and Canada.
This collaboration extends AeroPay payment capabilities to now include supplier disbursement processing in any payment modality, complete with vendor enrollment, management and ongoing support for both buyers and their suppliers. AeroPay Express extends the ACOM platform to include their low-cost or no-cost buyer financing options – adding significant benefit to more suppliers and their cash-flows in any industry.
Powered by ACOM’s automated platform, business customers are able to streamline their supplier payment workload, mitigate financial and compliance risk and maintain real-time control of their supplier spend. The “touchless” payment platform provides business the ability to easily pay 100% of their supplier invoices electronically, directly through payment settlement, reconciliation and reporting
“AeroPay Express has been ahead of the pack in providing innovative financing solutions for business buyers. This has been a main business focus for ACOM, and one that has gained serious momentum in our markets over the past 24 months,” said ACOM President and CEO Patrick McMahon. Our intelligent payment platform provides businesses with a “smarter” way to pay their suppliers in the most cost-effective method, automatically, from a single AP payment file. Users are able to expand visibility and control of their payables, reduce AP costs and gain greater control over cash management. Buyers also have an opportunity to generate new income directly from their supplier payments – a sizeable revenue source for many organizations, ” he added.
Unlike banks’ ePayment offerings, ACOM completes the entire enrollment and onboarding of suppliers, then continuously monitors them for the acceptable electronic payment method. Supplier information is maintained as it changes over time, relieving accounting personnel from any burden and ensuring that accounting teams automatically pay their suppliers in the most efficient payment method. Vendor management plays a key role in payment processing, and it’s an important part of the service.
“We’re excited about this relationship with ACOM. It is a natural extension of AeroPay Express service to bring more options, extended functionality and higher control for businesses as they pay suppliers”, said Stephen Troy, AeroPay Express President and CEO.
“ Payments have long been our primary business, it’s what we do every day as we extend more ways for customers to pay and save while they do it. Our finance and credit experience combines with ACOM to bring a new level of FinTech innovation, giving organizations greater control of their business spend to make more positive impact to their balance sheets. Businesses use AeroPay Express as the 21st century way to buy and sell goods and services, and now with even more bottom-line value,” Troy added.
To find out more about ACOM Solutions and our partnership opportunities visit www.acom.com
About ACOM Solutions
A leading FinTech provider of AP payment automation, ACOM has been transforming the way companies pay their suppliers since 1983. More than 1,500 midsize companies spanning multiple industries have used ACOM’s solutions to automate AP payment cycles, eliminate manual payments, reduce costs, mitigate financial fraud and gain greater visibility and control of an organization’s cash spend. ACOM customers process over 33 million payment transactions per year representing over $112 Billion.
About AeroPay Express
Located in Silicon Valley, AeroPay Express provides “early-pay” supply chain financing to buyers throughout the United States and Canada. Supply chain credit lines range from $50,000 to $5 million, affording buyers the use of credit for early payment for goods and services world-wide. The AeroPay Express platform automates the processing, settlement and payment of invoices without having to change existing processes or ERP software for both buyers and their suppliers. Buyers improve their cash flow through AeroPay’s extended terms and improve profits by taking advantage of discounts offered by vendors. Vendors accepting early payments are able to improve cash flow, eliminating any need to provide “free seller financing” when buyers extend payment terms up to 90 days or more.