Alliance Benefit Group Chooses SunGard for Straight-Through Processing; Technology Driven Recordkeeping Industry Necessitates Automation.Business & High Tech Editors JACKSONVILLE, Fla.--(BUSINESS WIRE)--Sept. 17, 2002 SunGard Corbel corbel Block or brick partially embedded in a wall, with one end projecting out from the face. The weight of added masonry above counterbalances the cantilever and keeps the block from falling out of the wall. , an operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon of SunGard (NYS 1. Is not. See Nis. :SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. ), announced today that Alliance Benefit Group (ABG ABG abbr. arterial blood gas ABG 1. Arterial blood gas 2. Axiobuccogingival–dentistry ) has joined a growing number of clients who have implemented Relius Administration's straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. functionality within its retirement plan recordkeeping business. Managing approximately 650 plans, with 45,000 participants, and plan assets of $1.1 billion, Alliance Benefit Group needed to move from a manual processing environment to scheduled, unattended processing in order to maximize efficiencies, thus enhancing and protecting profit margins. The Relius Administration straight-through processing solution has allowed ABG to automate non-administrator tasks such as trading, contribution processing and dividend/capital gain posting. The straight-through processing system receives and processes participant transaction requests, performs routine reporting tasks during non-peak hours, processes requests at specified times each day, and generally automates key repetitive tasks. With straight-through processing, ABG can plan for future growth without adding resources or increasing costs associated with the services they offer. "In today's world, third party administrators compete not only with each other, but also with non-traditional competitors such as large mutual fund houses and banks with seemingly unlimited technology budgets," said Steve Pulley pulley, simple machine consisting of a wheel over which a rope, belt, chain, or cable runs. A grooved pulley wheel like that used for ropes is called a sheave. , president, Alliance Benefit Group North Central States. "In order for independent TPA's to compete, we need to automate as much as possible. At ABG, we believe straight-through processing will help us compete with the big providers. Our initial estimates show that with straight-through processing we can grow our business by 50% without the pressure of adding any processing staff. That provides us with tremendous potential, and a significant competitive advantage." "With technology as the driving force in the retirement plan recordkeeping industry, firms need straight-through processing to stay ahead of the game", said Don Mackanos, president of SunGard Corbel. "It helps our clients to streamline workflows, increase their return on investment, and maintain a competitive edge without requiring an increase in staff to accommodate growth." About Alliance Benefit Group ABG is a full-service compensation and employee benefits consulting, recordkeeping, and administration organization for the small to medium sized employer. The company has over 70 employees today headquartered out of Minnesota with a consulting office in Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). . ABG has clients in 49 states from large publicly traded to one-person companies. ABG divisions include: retirement plan recordkeeping and administration, Section 125 administration, payroll service bureau A payroll service bureau is an accounting business whose main focus is the preparation of payroll for other businesses. Such firms are often run by Certified Public Accountants, though a typical payroll processing company will refer to itself as a service bureau rather than a CPA , consulting and brokerage services and registered investment advisory. About SunGard Corbel SunGard Corbel Inc., an operating unit of SunGard, provides the employee benefits industry with retirement plan recordkeeping software, document generation software, all types of retirement plan documents, government forms software, plus educational seminars and services. Visit SunGard Corbel at www.sungardcorbel.com. About SunGard SunGard is a global leader in integrated IT solutions for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . SunGard is also the pioneer and leading provider of information availability services. SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services institutions. SunGard (NYSE NYSE See: New York Stock Exchange :SDS) is a member of the S&P 500 and has annual revenues of $2 billion. Visit SunGard at www.sungard.com. Trademark Information: SunGard, the SunGard logo and Relius 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. |
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