SunGard today announced that Arkansas State Treasury has gone live on the AvantGard treasury, order-to-cash and payments solution suite to help streamline its public sector state-wide transactions processes.
Arkansas State Treasury selected the AvantGard treasury and cash solution suite for its ability to accommodate a proprietary depositor database, and support straight-through processing and cash visibility for investment and accounting services. AvantGard also helps Arkansas State Treasury to minimize the number of worksheets in circulation and oversee thousands of accounts with multiple banks across the state.
Arkansas State Treasury manages a fixed income portfolio of approximately $8.3 billion, and an equity portfolio of approximately $836 million. Securities range from repurchase agreements and commercial paper to the stateâs CD program and corporate bonds. The securities are spread across approximately 1,290 accounts that comprise the 24 pools under active investment management.
âOur commitment to achieving maximum efficiency in our operations that focus on the protection of taxpayer dollars is reflected in our decision to implement SunGardâs AvantGard,â said State Treasurer Gus Wingfield. âAs a fully integrated solution suite with comprehensive treasury and cash management functionality, AvantGard will help us to continue to meet this goal.â
Ken Dummitt, president of SunGardâs AvantGard business unit, said, âThe public sector is increasingly seeking to improve operational efficiency and streamline operations. The AvantGard treasury and cash management solution suite, backed by committed customer care and a deep understanding of the public sector, can help Arkansas State Treasury and our other public sector customers to efficiently support their state operations.â
SunGardâs AvantGard treasury and cash management solution suite provides end-to-end Collaborative Financial Management (CFM) by accommodating multiple treasury operational functions, including real-time visibility to cash-flow data, working capital optimization and tools to help reduce risk on an organizational basis. Establishing CFM helps treasury operations to include customers, suppliers, vendors and banks in their organizational financial picture.