ACOM Solutions and WEX Inc. Partner to Offer Clients a Complete Buyer/Supplier Payables Solution on a Single Platform
LONG BEACH, Calif., Aug. 8, 2017 /PRNewswire/ — ACOM Solutions is pleased to announce a new strategic partnership with WEX Inc. (NYSE: WEX). ACOM and WEX will collaborate on an offering to provide business clients with a complete buyer/supplier integrated payables solution on a cloud-based platform. ACOM specializes in providing state-of-the-art payment technology solutions for business users and WEX is a leading global provider of innovative business-to-business electronic payment solutions.
WEX has created a highly efficient process for companies to optimize, manage, execute and reconcile their AP disbursements, regardless of payment type. The addition of ACOM’s integrated cloud-based, bank-agnostic payment platform will allow clients to send and receive settlement data from their ERP and financial applications easily and efficiently. WEX clients will benefit from the simplicity and security of the user-friendly application designed to support current and future payment methods ranging from virtual accounts, discounted EFT and ACH to global payment networks, crypto currencies and checks through a single platform. Suppliers will receive timely settlement information focused on simplified payment application.
“Our collaboration with WEX leverages the expertise of a major electronic payments innovator with our ePayables platform, adding the capabilities to process and manage the full range of disbursement options available to any business,” said Patrick McMahon, ACOM Solutions CEO and President. “Smarter technology in payables processing is at the forefront of today’s business, and this important FINTECH innovation will add real-time control to manage, modify and launch any invoice payment transaction from one secure cloud-based portal,” McMahon added.
“WEX is excited to offer added value to our clients through this strategic partnership and licensing agreement with ACOM,” commented Bob Sneed, VP of Corporate Payment Solutions for WEX “Financial executives have been asking for solutions that enable them to take a more strategic and disciplined approach to payment optimization. Our clients and business partners will achieve bottom-line savings by streamlining supplier enablement, transitioning to electronic payments, capturing greater discounts and managing working capital. Our relationship, and the development work we do together, will define a new standard of excellence for outsourced B2B payments through higher technology, trust, transparency and execution,” Sneed added.
About ACOM Solutions
For 34 years and over 4,000 clients globally, ACOM connects people, processes and information with solutions that transform their paper-intensive financial processes to “paperless” with integrated Accounts Payable and Payment Automation.
ACOM’s ePayables platform manages the multiple ways of paying vendors—via checks, cards, ACH, wire transfers and more—through its Intelligent Payment Hub. This eliminates an organization’s entire cost and headache of paying supplier invoices via one simple and automated solution. Complete with managing the transition of vendors to ePayments, the service immediately takes the burden of paying an organization’s B2B vendors, making the process 100% paperless for that organization from the first day of implementation.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing approximately 10 million vehicles and offering exceptional payment security and control across a wide spectrum of business sectors. WEX serves a global set of customers and partners through its operations around the world, with offices in the United States, Australia, New Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway and Singapore. WEX and its subsidiaries employ more than 2,700 associates. The company has been publicly traded since 2005, and is listed on the New York Stock Exchange under the ticker symbol “WEX.”