SunGard 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 SunGards 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 SunGards 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.
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