Alogent and Glory Announce Reseller Agreement; Partnership Provides Turnkey Check 21 Solution to Large Merchants.SAN ANTONIO San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. -- Alogent Corp., a provider of payment transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. solutions for global financial institutions, remittance and payment processors, announced a reseller agreement with Glory USA, an international provider of cash verification and settlement solutions. With this agreement, Glory is integrating Alogent's Sierra Xpedite(R) and Sierra Xchange(R) software with its CPS (1) (Characters Per Second) The measurement of the speed of a serial printer or the speed of a data transfer between hardware devices or over a communications channel. CPS is equivalent to bytes per second. Retail cash settlement system -- currently used by leading merchants -- to automate cash room operations. The new Check Truncation Module will streamline the deposit automation process of checks and cash as well as truncate To cut off leading or trailing digits or characters from an item of data without regard to the accuracy of the remaining characters. Truncation occurs when data are converted into a new record with smaller field lengths than the original. checks at each store's cash room. "Like Glory USA, Alogent shares a common vision and commitment to provide innovative products and services to automate the deposit process," said Brian Geisel, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and founder of Alogent. "Both Glory and Alogent value the strategic importance of leveraging technology to improve business processes. To complement this shared vision and proactive service-based business philosophy, Glory's clients now have access to even more feature-rich product choices for mission-critical payment processing." The integrated software Separate software components or applications that have been combined into one package. See integrated software package. solution addresses the growing demand for Check 21 offerings among large merchants. Beyond check truncation at the point of presentment, the solution saves time and reduces errors associated with handling check payments in the merchant back-office. Benefits of the partnership extend beyond individual store locations by reducing the number of bank relationships required at the corporate level and eliminating the associated sweeps made by each single store. Further, the joint solution leverages Check 21 regulations and will support NACHA's anticipated Back Office Conversion rule set. Merchant benefits include faster access to funds, lower per-item transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). and reduced administrative overhead. Unlike traditional Point Of Sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) check conversion solutions, Glory's Check Truncation Module accommodates virtually all checks without disrupting the point of sale environment. "We are pleased to work with Alogent to incorporate software solutions that continuously improve daily retail cash room operations," said Montgomery Teague, V.P. Marketing of Glory USA. "By bringing to market an integrated Check 21 solution, large merchants benefit from check truncation as well as substantial cash room efficiency gains." About Alogent Founded in 1995, Alogent Corporation is a leading global provider of enterprise payment processing solutions that enable financial institutions and processors to accelerate the conversion of paper to electronic processing. The company's Sierra suite of solutions automates payments and deposits at every point of presentment (including branches, ATMs, merchants, corporations and cash vaults) while optimizing the efficiency and security of electronic data and image processing image processing Set of computational techniques for analyzing, enhancing, compressing, and reconstructing images. Its main components are importing, in which an image is captured through scanning or digital photography; analysis and manipulation of the image, accomplished and settlement. Alogent is the deposit automation market leader with our platform processing billions of payments annually with over 30,000 desktop points of presentment sold. Alogent brings proven delivery and leadership to help customers worldwide address mission-critical challenges. About Glory Glory provides the solutions that improve daily operations of cash vaults within the retail sector. The company's compact discriminators, counters and network systems are the industry standard for reducing labor and increasing productivity. Glory builds, distributes and supports solutions for the retail market that are small in size but big in ability. The result is lower FTE FTE Full-Time Equivalent FTE Full-Time Employee FTE Full-Time Equivalency FTE Full Time Employment FTE Foundation for Teaching Economics FTE Full Time Enrollment FTE For the Enterprise (SQL) FTE Fund for Theological Education , higher customer service and more reliable end of day balancing. |
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