PricewaterhouseCoopers Announces Global Securities Processing Solution to Reflect E-Business Momentum in Alliance with Wilco International.NEW YORK--(BUSINESS WIRE)--Dec. 6, 1999--
PricewaterhouseCoopers and Wilco International, an ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing.
(2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. subsidiary (NYSE NYSE
See: New York Stock Exchange :AUD AUD
In currencies, this is the abbreviation for the Australian Dollar.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ), today announced that they have entered into a global business alliance to provide securities firms with a processing solution to meet the challenges of E-business, globalization globalization
Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation and deregulation Deregulation
The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry.
Traditional areas that have been deregulated are the telephone and airline industries. . These developments together with greater processing efficiencies, multiple distribution channels, growing and volatile trading volumes Trading volume
The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. , are forcing securities firms to seek innovative solutions to manage the trade life-cycle.
Existing players are faced with re-engineering, replacing or outsourcing their legacy systems to deal with shortened settlement cycles and attaining Straight through Processing In financial technology, the ability to process a stock transaction by computer from beginning to end without manual intervention at any of the stages. (STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. ). Some will meet these challenges by forming consortiums to achieve economies of scale. New entrants will need to quickly add processing capacity as their businesses expand globally. Recognizing the need for `speed to market', PricewaterhouseCoopers has developed a solution set, known as `virtual trade management' (VTM VTM Variable Torque Management
VTM Vampire the Masquerade
VTM Visa Travel Money
VTM Virtual Trade Mission
VTM Vessel Traffic Management
VTM Vlaamse Televisie Maatschappij (Flemish television company ) ) to facilitate implementation of a competitive response to dramatic market changes.
VTM is a suite of leading applications, technologies and services for global trade processing, settlement and management that PricewaterhouseCoopers is geared up to implement and integrate in either a greenfield or a legacy environment. The groundwork done by PricewaterhouseCoopers and alliance members such as Wilco, will allow clients to move fast and to ensure a seamless business and systems solution with the most current proven technology.
Today's announcement of the first keystone alliance with Wilco International, a provider of component-based solutions for managing and processing cross-border transactions, marks the beginning of a global-roll out of the VTM solution. Building on Wilco's product line, PwC will incorporate other software packages and services to further develop VTM, for example to include elements of customer relationship management (CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ), Supply Chain Management (SCM (1) (Software Configuration Management, Source Code Management) See configuration management.
(2) See supply chain management. ) and hardware re-selling.
William E Irving, Global Leader, Capital Markets Consulting at PricewaterhouseCoopers said:
"Working closely with Wilco, we are further strengthening the capability of our Global Securities Processing practice, and confirming our position as the leader in global strategic and process driven change for Capital Markets."
Firms will also benefit from PricewaterhouseCoopers market analysis, change management and process re-engineering services. Irving continued:
"With the dramatic rise in e-business and the drive for efficient, low-risk operations, the ability to adapt is of paramount importance. PricewaterhouseCoopers is strategically positioned to enable firms to capitalize on Cap´i`tal`ize on`
v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. opportunities arising from e-business and changing market conditions through effective change management and the rapid deployment of Wilco's systems."
Stephen Bloomer, Wilco International's Managing Director, commented:
"This strategic relationship with PricewaterhouseCoopers, which is recognized for its exceptional financial markets presence and infrastructure, will accelerate our market position and further enhance the scope of Wilco's market leading financial software products and related services."
Wilco specializes in providing advanced systems to the brokerage, investment banking and custodian community for global straight through processing, Internet brokerage and outsourcing. Its products include the market leading Gloss securities processing workflow system which is used by many of the world's leading 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. organizations. PricewaterhouseCoopers business and technical managers are now receiving training on Wilco's products and service solutions. -0-
Notes to Editor: 1. The Management Consulting Services practice of PricewaterhouseCoopers helps clients maximize their business performance by integrating strategic change, process improvements and technology solutions. Through a world-wide network of skills and resources, consultants manage complex projects with global capabilities and local knowledge, from strategy through implementation. PricewaterhouseCoopers (www.pwcglobal.com), is the world's largest professional services organization. Drawing on the talents of more than 150,000 people in 150 countries, the organization provides a full range of business advisory services to leading global, national and local companies and to public institutions. 2. Wilco is an international software house that specializes in supplying securities and investment banking systems and enterprise wide middleware solutions. It is represented globally through its regional offices in London, New York, Hong Kong, Geneva, Tokyo and Hyderabad. Wilco is a wholly owned subsidiary of ADP. For further information on Wilco or its parent company ADP, visit their respective web-sites at www.wilco-int.com and www.adp.com.