AOC Receives an Award for Innovation in Commercial Payments

AOC Receives an Award for Innovation in Commercial Payments

  • Mar 21, 2013

AOC Receives an Award for Innovation in Commercial PaymentsAOC Solutions, Inc. - a commercial payments technology and services provider to public, private and corporate sector clients - announced today that it won the Commercial Payments International Global Excellence Award for creating an automated, electronic payments process that enables organizations to leverage their cash-on-hand more effectively to pay for vendor goods or services, instead of having to obtain a more traditional line of credit from a bank or other lender.

AOC's patent-pending, prefund technology, part of AOC's EnCompass platform, uses proprietary file- and web-based accounts payable (A/P) processes to determine a client's available funds, provide additional funds to pay that client's commercial vendors and conduct vendor payments. Prefund also manages and secures payment-related data among all parties involved in the transaction: the buying organization, the financial issuer and the vendor. As a result, Prefund significantly reduces or eliminates the need for additional information to close A/P invoices; provides secure payments to vendors with better line-item-transaction detail on invoices; and provides electronic notification of pending or completed payments to expedite closure of open receivables within a client's own accounts receivable (A/R) system.

"This award affirms AOC's commitment to delivering innovative commercial payment solutions that meet urgent customer needs," said Allen O. Cage, Jr., AOC's president and CEO. "We are honored to have been chosen for this prestigious distinction."




AOC Receives an Award for Innovation in Commercial Payments

"CPI is delighted that the judges selected AOC's Commercial Prefund Solution as the ‘Best Commercial Payments Innovation,’" said Joanne Robinson, CPI's founder and CEO. "AOC Solutions continues to develop innovative solutions for the commercial payments industry and, this award recognizes those achievements."

Cage was also nominated as a finalist in the "Most Influential Commercial Cards and Payments Executive" category.

Winners were announced at CPI's Global Commercial Cards & Payments Summit in New York City.

(left) Kevin Woods, AOC’s Executive Vice President of Global and Strategic Initiatives

(right) Joanne Robinson, founder and CEO, Commercial Payments International

Featured

  • Maximizing Your Security Budget This Year

    7 Ways You Can Secure a High-Traffic Commercial Security Gate  

    Your commercial security gate is one of your most powerful tools to keep thieves off your property. Without a security gate, your commercial perimeter security plan is all for nothing. Read Now

  • Protecting Data is Critical

    To say that the Internet of Things (IoT) has become a part of everyday life would be a dramatic understatement. At this point, you would be hard-pressed to find an electronic device that is not connected to the internet. Read Now

  • Mobile Access Adoption

    Smartphones and other mobile devices have had a profound impact on how the world securely accesses the workplace and its services. The growing adoption of mobile wallets and the new generation of users is compounding this effect. Read Now

  • Changing Mindsets

    We have come a long way from the early days of fuzzy analog CCTV systems. During that time, we have had to migrate from analog to digital signals. When IP-based network cameras arrived, they opened a new world of quality and connectivity but also introduced plenty of challenges. Thankfully, network devices today have become smart enough to discover themselves and even self-configure to some degree. While some IT expertise is certainly required, things are much smoother these days. The biggest change is in how fast security cameras and supporting infrastructure are evolving. Read Now

Most   Popular

Featured Cybersecurity

Webinars

New Products

  • A8V MIND

    A8V MIND

    Hexagon’s Geosystems presents a portable version of its Accur8vision detection system. A rugged all-in-one solution, the A8V MIND (Mobile Intrusion Detection) is designed to provide flexible protection of critical outdoor infrastructure and objects. Hexagon’s Accur8vision is a volumetric detection system that employs LiDAR technology to safeguard entire areas. Whenever it detects movement in a specified zone, it automatically differentiates a threat from a nonthreat, and immediately notifies security staff if necessary. Person detection is carried out within a radius of 80 meters from this device. Connected remotely via a portable computer device, it enables remote surveillance and does not depend on security staff patrolling the area. 3

  • AC Nio

    AC Nio

    Aiphone, a leading international manufacturer of intercom, access control, and emergency communication products, has introduced the AC Nio, its access control management software, an important addition to its new line of access control solutions. 3

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge. 3