New York City (PRWEB) February 21, 2012
Global Finance magazine has chosen SunGard’s AvantGard, provider of the SaaS*-based PayNetExchange electronic payments platform, as Best Electronic Payments Provider in its new ranking of Treasury and Cash Management Banks and Providers, to be published in an exclusive survey in the March 2012 issue. Global Finance editors, with input from industry analysts, corporate executives and technology experts, selected the best providers of treasury and cash management services based on a variety of criteria such as profitability, market share, customer service, and product innovation.
As a leading electronic payments solution, SunGard’s AvantGard PayNetExchange processed almost $110 billion in transactions in 2011, a 15% increase from $96 billion in 2010. Electronic payments volume also increased more than 15%, from 1.5 million transactions in 2010 to almost 1.8 million in 2011, leading to growth in rebates to SunGard customers.
AvantGard PayNetExchange helps companies execute B2B payments by offering a single portal that can initiate payments in check, Automated Clearing House (ACH), wire, virtual card, SWIFT, and other formats. The platform also facilitates migration from paper checks toACH , wire, SWIFT and virtual card payments by leveraging a global directory of vendor account details. SunGard provides full services to contact vendors as well as manages the entire enrollment process. As a SaaS-based solution, AvantGard PayNetExchange alleviates the need for costly infrastructure build-outs and heavy IT maintenance.
“AvantGard PayNetExchange experienced transaction and rebate growth in 2011 due to more companies understanding that an electronic payments strategy can help eliminate costly and inefficient processes around printing and mailing paper checks. With PayNetExchange, corporations can easily transition their accounts payable disbursements to ACH, wire, SWIFT, or virtual card payments without changing existing processes or hardware,” said Mike Kresse, senior vice president of payments services for SunGard’s corporate liquidity business.
About Global Finance magazine
Global Finance, founded in 1987, has a circulation of 50,050 and readers in 163 countries. Its circulation is audited by BPA. Global Finance’s audience includes chairmen, presidents, CEOs, CFOs, treasurers and other senior financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance also targets the 8,000 international portfolio investors responsible for more than 80% of all global assets under professional management. Its website ––GFmag.com –– offers analysis and articles that are the heritage of 25 years of experience in international financial markets, and provides a valuable source of data on 192 countries. It is headquartered in New York, with offices in London and Milan.
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 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, 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 $4.5 billion, SunGard is the largest privately held software and services company and was ranked 434 on the Fortune 500 in 2011. Look for us wherever the mission is critical. For more information, please visit http://www.sungard.com.
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