New York, NY (PRWEB) July 20, 2011
SunGard has launched AvantGard Business Process Management (BPM) for deductions and chargebacks that occur in the order-to-cash cycle. AvantGard BPM offers corporations a comprehensive BPM solution with standard workflows that can be configured to meet the complex requirements of corporations managing a high volume of deductions and chargebacks. Leveraging BPM in this area can help suppliers create a more efficient and responsive supply chain operation that adheres to vendor compliance requirements and expedites resolution of problem invoices.
The solution was developed using SunGard’s standard BPM technology, Infinity Process Platform*, and offers corporations pre-packaged yet configurable workflows around the management of highly complex routing scenarios such as return merchandise authorizations (RMAs), vendor compliance, errors in price or discount, quantity, tax disputes, freight charges, early or late shipments and missing or unexpected returns of goods. The solution interfaces with the AvantGard Receivables order-to-cash solution to help companies with complex processes around deduction management to introduce BPM.
Many corporations, particularly manufacturers of consumer product goods, medical devices and transportation companies struggle with adhering to process workflows for managing these transactions. Much of this difficulty stems from the numerous points of contact involved in routing deductions and chargebacks across the supply chain, which include interaction and approval requirements across manufacturing, shipping, sales and customer service. The process is further complicated by a requirement to establish many different workflow streams based on an array of variables that include items such as product line, sales area, type of deduction, amount, timeframe and more. AvantGard BPM can help identify process failures in the supply chain which helps corporations increase profitability and reduce operating costs.
“Organizations that elect to incorporate sound business management processes into handling deductions and chargebacks can reduce their operating costs. Having visibility and control around these transactions will guide corporations in establishing valuable process changes that can help improve productivity and reduce revenue leakage,” said Jessica Butler, founder of Attain Consulting Group, a deduction and chargeback management advisory firm.
Jim Mangano, senior vice president of receivables solutions, SunGard’s AvantGard said, “Corporations in industries such as consumer goods, medical devices and transportation experience a large number of complex deductions. SunGard’s AvantGard BPM can help them reduce the time and allocation of resources required to manage these deductions.”
- SunGard Financial Systems is pursuing a visionary initiative to transform some of the key functionality of its core systems into components creating software-as-a-service (SaaS)-based solutions. Leading this strategy is Infinity, which uses a service-oriented architecture (SOA) development framework, offers a business process management platform (Infinity Process Platform) and a virtualized, on-demand delivery infrastructure.
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 http://www.sungard.com/avantgard.
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 20,000 employees and serves more than 25,000 customers in 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 of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, visit http://www.sungard.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.