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SunGard Launches AvantGard EcoSystem Communication Service as Part of Strategy to Drive Transparency and Efficiency Across the Corporate Commercial EcoSystem

Posted on: Monday, 5 October 2009, 08:30 CDT

SAN FRANCISCO, Oct. 5 /PRNewswire/ -- SunGard today launched AvantGard EcoSystem Communication Service, a technology infrastructure that links the participants of the corporate commercial ecosystem. By leveraging the technology and customer relationships formed around SunGard's AvantGard solutions for receivables, treasury and payments management, the AvantGard EcoSystem Communication Service helps streamline connectivity between corporations, banks and other trading partners. The service helps corporations benefit from streamlined communications, and helps banks focus on the delivery of innovative value-added services to their corporate clients.

A recent study conducted by SunGard confirms a pressing need for simplified connectivity between corporations and banks: 30% of the corporations surveyed grossing $5 billion or greater rely on more than 20 cash management banks. This complexity is driving the demand for a single point of connectivity for bank communications.

The AvantGard EcoSystem Communication Service offers a single point of connectivity to help facilitate communications for bank account statements, wire transfers, treasury payments, accounts payable payment execution (including a variety of formats such as SWIFT, ACH, check to ACH converted) and check printing via a global payments network contained within the service. The service also manages deal confirmations and matching (ACCORD), electronic bank account management (eBAM), bank fee reporting (TWIST), and mutual fund reporting.

For corporations, the AvantGard EcoSystem Communication Service helps deliver lower total cost of ownership, increased transparency and ease of operations. It provides banks with more streamlined access to their corporate clients helping banks provide them with faster delivery of value-added services. Banks can also broaden their access points to corporate clients by leveraging the AvantGard solution footprint, which spans the spectrum of connectivity across the receivables, treasury and payments functions. The service contemplates a formal program for service-driven labels for financial institutions.

The launch of the AvantGard EcoSystem Communication Service is part of SunGard's broader strategy to bring together the various entities within the corporate commercial ecosystem. Participants include suppliers, buyers, banks and other trading partners. As part of this strategy, SunGard is operating as a community leader across the ecosystem by forming relationships with banks, FX platforms, credit data providers, collection agencies, money market funds, and SWIFT, as examples.

"The corporate commercial ecosystem has often been described as the most inefficient market in the world," said Ken Dummitt, president of SunGard's corporations business. "An inefficient market is typically characterized by lack of data and transparency and a high degree of transactional friction cost. It is clear that no one entity can provide all of the elements necessary to affect the fundamental shift required to bring efficiency to cash management. What the corporate commercial ecosystem needs, like any ecosystem, is a community leader. With the launch of the AvantGard EcoSystem Communication Service, SunGard is strongly positioned to provide that leadership by bringing together the network of participants for improved transparency, efficiency and connectivity."

The AvantGard EcoSystem Communication Service offers the framework for corporate-to-bank and corporate-to-corporate connectivity, helping corporations to leverage generic communication protocols inherent in the service to deliver bank and non-bank messaging and communications. The service will create the infrastructure for the delivery of invoice and remittance advice and the ability to facilitate alternative financing via a bank or other exchange.

About SunGard's AvantGard

SunGard's AvantGard is a leading liquidity management solution for corporations, insurance companies and the public sector. AvantGard provides chief financial officers and treasurers with real-time visibility into cash flows and increased operational controls around receivables, treasury and payments. AvantGard helps companies drive free cash flow and reduce inefficiencies across the EcoSystem of suppliers, buyers, banks and other trading partners. For more information, visit www.sungard.com/avantgard.

About SunGard

SunGard is one of the world's leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries.

SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.

With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at www.sungard.com.

*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com

Trademark Information: SunGard, the SunGard logo, and AvantGard are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.

For more information, please contact: Adriana Senior Vice President, Media Relations SunGard Financial Systems Tel: +1-718-578-1130 adriana.senior@sungard.com

SOURCE SunGard

Source: PR Newswire

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