SunGard today announced that DeVry Inc. (NYSE:DV), a global provider of educational services, has licensed SunGard's STeP intelliMATCH solution for cash reconciliation processing.
The solution complements the firms existing use of SunGard's AvantGard Treasury solution.
SunGard's STeP intelliMATCH, which is SWIFTReady Gold accredited, will provide DeVry with a robust matching engine and common platform for the reconciliation of multiple instruments - including bank account transactions, general ledger movements, OTC and ETC derivatives, securities positions and movements, and trade confirmations and advices.
Patrick J. Unzicker, corporate controller at DeVry, commented: "The STeP IntelliMATCH solution helps us to centralize and streamline our cash reconciliations using an automated approach to reconciling data out of our AvantGard Treasury Workstation and various banking systems. STeP IntelliMATCH will help us to efficiently support an increased volume of transactions, while maintaining stable operational costs."
Tom King, president of SunGard's STeP business, said: "With STeP IntelliMATCH, we are able to help customers to reduce risk and significantly decrease their overheads. The automation offered by the solution helps eliminate the errors commonly associated with manual data-checking and lets customers redeploy staff to focus on other operational issues. By combining the use of intelliMATCH with our treasury solutions, customers like DeVry can process a growing number of transactions, without seeing a linear increase in operational costs."