SunGard teams with SRC Software for BancWare Budgeting & Planning
13 November 2003 | 4488 views | 0
SunGard Trading and Risk Systems has launched BancWare Budgeting & Planning which combines budgeting, planning and reporting applications from Oregon-based SRC Software with its asset and liability management system, BancWare.
The product enables users to measure and communicate performance goals across the organisation, benchmark execution against strategic planning and proactively manage financial strategies.
Users can create and modify budgets in a decentralised way, helping to shorten the budget cycle, creating consistent revisions and offering the ability to interactively manage and project cost centre-level financial statements.
By creating financial assumptions and definitions between asset/liability management and accounting, the product helps clients improve data consistency within the enterprise. Customers can measure the effectiveness of their financial strategies and make decisions based on plan execution.
Terence Faherty, president of SunGard’s BancWare operating unit, says to improve the effectiveness of corporate strategies, firm are realising that they must move from manual, spreadsheet-based processes to automated, integrated systms that enable them to manage and measure performance across the organisation, at all levels.
"With BancWare Budgeting & Planning, SunGard is now able to offer banks a way to seamlessly integrate the budgeting and planning process at all levels of their organisation with margin forecasting, profitability and performance measurement, asset/liability management, and funds transfer pricing," says Faherty.