NEW YORK, November 12, 2003 â SunGard Trading and Risk Systems, an operating group of SunGard (NYSE: SDS), today announced that it has partnered with SRC Software to create BancWare Budgeting & Planning using SRCâs budgeting, planning and reporting software. By integrating SRCâs Web-enabled budgeting components into the BancWare solution suite for performance measurement, asset/liability management and data integration, financial professionals can easily communicate and measure performance goals across their organization, benchmark execution against strategic planning and proactively manage their financial strategies.
BancWare Budgeting & Planning enables financial professionals to create and modify budgets in a decentralized fashion, thereby helping to shorten the budget cycle, creating consistent revisions, and offering the ability to interactively manage and project cost center-level financial statements.
By creating consistent financial assumptions and definitions between asset/liability management and accounting, BancWare Budgeting & Planning helps clients enhance data consistency within the enterprise. Clients can bring the full picture of their balance sheet to financial planning strategies, combining net interest margin with full details of non-interest income and expenses. With BancWareâs new solution, customers can measure the effectiveness of their financial strategies and make decisions based on plan execution.
BancWare Budgeting & Planning provides efficient reporting, including full drill-down capabilities, enterprise reporting, a wide array of distribution options, and transparent calculations and results. This is based on the integration of an Excel user interface, data integration, process control and industry standard databases.
Tom Malone, president and chief executive officer of SRC Software, said, "This partnership brings together the corporate strengths of two well established companies. As a global leader in balance sheet management software, BancWare has financial industry expertise, successful software implementation experience, and SunGardâs financial and organizational strength. SRC has an established line of highly personalized performance management solutions, a great reputation and strong client references. Combining SRC's ability to budget at the cost center level with BancWare's ability to manage the margin with the highest level of accuracy increases the value of both our independent solutions to the banking industry."
Terence Faherty, president of SunGardâs BancWare operating unit, said, "In order to improve the effectiveness of their corporate strategies, financial institutions are recognizing that they must move from manual, spreadsheet-based processes to automated, integrated solutions that enable them to manage and measure performance across the organization, at all levels. Integration is paramount to efficiency and accuracy in banksâ finance and treasury functions. 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 organization with margin forecasting, profitability and performance measurement, asset/liability management, and funds transfer pricing."