SunGard Survey Reveals Reduction in Exception Management Costs; Exception Rates Will Continue to Fall Due to Automation.Business Editors/High-Tech Writers NEW YORK--(BUSINESS WIRE)--Jan. 13, 2004 The latest survey results from real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. exception processing experts SunGard (SunGard Data Systems Inc., Wayne, PA, www.sungard.com) A computer software and services company specializing in financial services, investment support systems and business continuity. SunGard was formed in 1983 from four subsidiaries of the Philadelphia-based Sun Company. eProcess Intelligence, 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 (NYSE NYSE See: New York Stock Exchange : SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. ), reveal that top 500 financial institutions are seeing a reduction in exception rates, and their associated costs. Key findings from the survey conclude: -- The estimated cost of exceptions has fallen almost 30% since 2002. Respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. agree that exceptions now consume 18% of profits, a significant drop from the 25% claimed last year. -- Respondents saw continued potential for reduced exception rates through automation, with 69% predicting a further decline in exceptions over the next two years. -- Survey respondents concur CONCUR - ["CONCUR, A Language for Continuous Concurrent Processes", R.M. Salter et al, Comp Langs 5(3):163-189 (1981)]. that more exceptions are occurring pre-settlement (55%) than post-settlement (45%), highlighting the need for solutions that can detect exceptions early in the transaction lifecycle. This year's survey findings clearly show progress towards improved exception management. The cost of exceptions is being brought under control amongst an increasing number of financial institutions, with the pace of cost and risk reduction expected to continue for the next few years. Respondents believe that exception rates will continue to fall due to the adoption of exception management technology. The provision of real-time information will enable firms to identify and correct the 55% of exceptions that are failing pre-settlement by managing the transaction throughout the entire processing lifecycle to reduce firms' financial and operational risk. Matt Mandalinci, president of SunGard eProcess Intelligence, commented, "Findings from this year's annual research series reinforce the clear benefits of automation in the industry. Respondents attribute the reduction in exception costs to a prioritisation of operational risk by top management, to better tools for analysis of the cause of exceptions, and to the implementation of applications that automate To turn a set of manual steps into an operation that goes by itself. See automation. exception management." About SunGard eProcess Intelligence SunGard eProcess Intelligence is a leading provider of exception processing and enterprise report management solutions. SunGard's Web-enabled exception processing solutions help improve 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. rates by automating the matching, reconciliation, research, and resolution of exceptions throughout the entire transaction lifecycle. SunGard's enterprise report management solutions provide electronic report storage for legal archiving and compliance and Web-enabled report distribution. SunGard eProcess Intelligence has been providing solutions to the 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. industry for almost 20 years and clients include 70 of the world's top 100 financial institutions. About SunGard SunGard is a global leader in integrated IT solutions for financial services. 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 companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenues of more than $2 billion. Visit SunGard at www.sungard.com. Trademark Information: SunGard and the SunGard logo 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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