SunGard releases reconciliation tool for IMpower users

Source: SunGard

SunGard today announced the availability of IMpower Reconciliation, which is available to customers of IMpower, SunGard's Web-based, global portfolio management system.

IMpower Reconciliation provides asset managers a more automated approach for reconciling custodian positions, transactions and cash statements. SunGard has signed and is currently implementing its first customer of the new service.

Offered to asset managers as an ASP solution, IMpower is a comprehensive portfolio management system which provides integrated portfolio management, accounting, trading, performance measurement, and reporting capabilities. IMpower Reconciliation, available as an additional module of IMpower, is based on intelliMATCH, SunGard's solution for automated reconciliation and exception identification. IMpower Reconciliation extends IMpower's standard reconciliation functionality, helping reduce manual, error-prone processing of transactions by automatically identifying exceptions, reducing investigation time and helping users to re-allocate costly resources by automating previously manual tasks.

IMpower Reconciliation provides the following:
  • Access to daily and/or monthly reconciliation using customizable rules to support the unique business processes of each asset manager.
  • Exceptions are identified and automatically uploaded and posted back to the system, in a proactive manner, helping to reduce the operational risk, high costs, and time spent on error-prone manual processing.
  • Comprehensive reports and graphical, browser-based dashboard provide up-to-the minute operational information for both users and management.
  • Connectivity to SunGard Transaction Network (STN) for SWIFT, providing direct access to custodians on the SWIFT network.
  • Consolidation of incoming data feeds from any source into a single, consistent format, so that SWIFT and non-SWIFT member custodians, data files and static data can be addressed with a more streamlined, standardized treatment of information to reduce risk, errors and time spent on manual downloads.
  • Scheduled, automatic downloads of custodian and advisor files to reduce the amount of timeme spent on manual downloads.
  • Detailed audit trails to track transactions, positions and more.

"IMpower allows asset managers to streamline an array of portfolio management functions, reducing the risks and costs of their operations," said Doug Morgan, president of SunGard's Institutional Asset Management business. "With IMpower Reconciliation, SunGard gives customers an even more innovative, proactive and automated portfolio management solution that can be easily configured to their operating environment. Both longstanding and new customers can gain from the increased efficiencies that IMpower Reconciliation can lend to their day-to-day portfolio management tasks."

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