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Press Release

SunGard to Lead Panel Discussion on Practical Applications of Supply Chain Financing Solutions at Upcoming AFP Conference

ATLANTA, September 28, 2009 – SunGard will lead a panel consisting of Volvo,
Big Lots, Aite Group, and PrimeRevenue to explore how organizations are implementing and benefiting from supply chain financing. The panel will be held at this year’s annual AFP Conference set for October 4-7 in San Francisco, CA.

When: Tuesday October 6; 10:30am – 12:00pm
Title: “Practical Applications of Supply Chain Financing Solutions”
Summary: Learn more about the world of Supply Chain Finance, its benefits, and how automating the financial supply chain and employing networked financial services can help reduce cost of capital and create an advantaged EcoSystem.
Speakers: SunGard, Big Lots, Volvo AB, Aite Group, PrimeRevenue

SunGard’s AvantGard has partnered with PrimeRevenue to offer improved connectivity and data transmission to help facilitate Supply Chain Finance (SCF). The PrimeRevenue platform links trading partners (buyers and their suppliers) and financial institutions to a common network. Through the SCF Platform, buyers upload approved invoices (their payables) for payment at a future date. AvantGard can supply these files directly from the AvantGard Receivables solution. The buyer’s suppliers can view their receivables, and may opt to trade receivables as selected for early payment, less a low financing fee based on the buyer's credit rating. Participating financial institutions fund the early payment requests. AvantGard’s solutions for receivables, treasury and payments management can help companies gain increased transparency and access to data for use of the platform.

“If you think about commercial trade, the concept that settlement of corporate to corporate transactions often takes 30, 60, even 90 days, is incredible, especially if you compare the timeframe to any other financial transaction. It is evident that there is an enormous opportunity for improvement,” comments C.J. Wimley, executive vice president, corporate solutions for SunGard’s AvantGard business unit. “We are working to help our customers reduce friction and attain visibility across the EcoSystem of buyers, suppliers and other trading partners by delivering solutions that can create transparency, increase efficiency and foster networking. As part of this strategy, we have partnered with PrimeRevenue to deliver increased value to our customers by helping facilitate alternative financing.“

PJ Bain, chief executive officer of PrimeRevenue, says: “Supply Chain Finance has always made sound financial sense, but in today’s economy, it provides increased value. It helps companies reduce working capital while at the same time giving their suppliers access to typically investment-grade credit to address their own cash flow needs. We are pleased to have partnered with SunGard AvantGard to help support a supply chain community who see SCF as a working capital option.”

SunGard will also be moderating a panel on the topic of Risk-Based Collections at the AFP Conference. This topic helps companies understand how to implement a strategic approach to collections management by leveraging credit data and risk models to automatically adjust tactics. Implementing this approach can help companies lower DSO, reduce bad debt expense and improve productivity.

For more information on the AFP Conference, please visit www.afponline.org/.

About 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 www.sungard.com/avantgard.

About SunGard
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries.

SunGard provides software and processing solutions for financial services, higher 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 exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at www.sungard.com.

*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com

Trademark Information: SunGard, the SunGard logo and AvantGard are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.

Media Contacts:

SunGard
Adriana Senior
vice president, Media Relations
SunGard Financial Systems
Tel: +1-718-578-1130
adriana.senior@sungard.com

PrimeRevenue
Bob Kramer
678-904-7103
pr@primerevenue.com

 

 

PrimeRevenue's vision is to be the standard global platform for processing supply chain finance transactions.