One of the most fundamental treasury processes is balance and transaction reporting. You communicate with your bank (or banks), ask for the balance and transaction information, parse it, G/L code it, and the job is done. Simple. Right? While some treasury departments care only about the few accounts that they use for treasury purposes, others find the process to be complex and time consuming as they need to reconcile several thousand accounts every day. Automation is essential.
Bank Account Consolidation / Reconciliation
Once a corporation is dealing with more than five banks it begins to make sense to look to a data aggregation service to collect and check the data. Often corporations just ask their bank to provide the aggregation services. Those corporations that focus heavily on process efficiency turn to independent technology suppliers to get the job done.
SunGard AvantGard provides secure, real-time integration between SunGard's treasury management applications and the financial community for cash management services and execution services (trading, borrowing and investment). SunGard offers two options for corporate to bank connectivity.
Treasurers of global companies need a secure, reliable and cost-effective connection to all of their banks that can offer full transparency, without the overhead of managing multiple interfaces.
The AvantGard EcoSystem Communication Hub (Echos) is a service that helps to mitigate challenges related to connectivity by offering an integration and communication layer that interfaces to all in-house applications with the broader external corporate commercial ecosystem for improved corporate bank connectivity, corporate corporate connectivity, and corporate partner communications.