Arkansas State Treasury Selects SunGard's AvantGard to Help Streamline State-wide Transactions; Flexible Solution Helps Manage Thousands of Accounts.LIVINGSTON, N.J. -- SunGard (http://www.sungard.com) today announced that Arkansas Arkansas, river, United States Arkansas (ärkăn`zəs, är`kənsô'), river, c.1,450 mi (2,330 km) long, rising in the Rocky Mts., central Colo. 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 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. 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 Repurchase agreement An agreement with a commitment by the seller (dealer) to buy a security back from the purchaser (customer) at a specified price at a designated future date. and commercial paper to the state's CD program and corporate bonds. The securities are spread across approximately 1,290 accounts that comprise the 24 pools under active investment management. "Our commitment to achieving maximum efficiency in our operations that focus on the protection of taxpayer dollars is reflected in our decision to implement SunGard's AvantGard," said State Treasurer Noun 1. state treasurer - the treasurer for a state government financial officer, treasurer - an officer charged with receiving and disbursing funds Gus Wingfield Gus Wingfield (born September 17,1926 in Antoine, Arkansas) is a former one term Arkansas State Treasurer, and two term Arkansas State Auditor, 1994-2003. He served from 2003-2007. . "As a fully integrated solution suite with comprehensive treasury and cash management functionality, AvantGard will help us to continue to meet this goal." Ken Dummitt, president of SunGard's AvantGard business unit, said, "The 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." SunGard's AvantGard treasury and cash management solution suite provides end-to-end Collaborative Financial Management (CFM (Cubic Feet per Minute) The measurement of air flow. Cooling fans are rated in CFM. ) by accommodating multiple treasury operational functions, including real-time visibility to cash-flow data, working capital optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. 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. About The Arkansas State Treasury Officially established in 1836 by the State Bank of Arkansas and the Real Estate Bank, the Arkansas State Treasury is responsible for handling the deposits, withdrawals, redemptions of state warrants, and investments of state funds while also managing and distributing state aid funds and local sales and use taxes Sales and use tax refers to:
About AvantGard A solution serving the treasury operations of corporations and financial institutions, AvantGard provides cash management, risk management, business communication, and in-house banking capabilities. AvantGard brings together data from disparate sources to provide CFOs with a real-time snap shot a quick offhand shot, without deliberately taking aim. See also: Snap of global cash and risk positions, while also supporting the activities of staff across treasury, accounting, and executive departments. About SunGard With annual revenue of $4 billion, SunGard is a global leader in software and processing 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. , higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.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. |
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