Additionally, the volume of electronic payments being processed by AvantGard has increased by 52 percent from approximately 1 million in 2009 to more than 1.5 million in 2010.
According to Mike Kresse, senior vice president of payments services for SunGard’s corporate liquidity business, the increase in transaction volumes processed via AvantGard PayNetExchange can be attributed to increased awareness among corporations of the benefits that can be realized by adopting an electronic payments strategy, including eliminating the costly and inefficient processes surrounding printing and mailing paper cheques.
AvantGard PayNetExchange allows companies to carry out B2B payments by providing a single portal that can initiate payments in cheques, ACH, wire, Card, SWIFT and other formats. The platform also facilitates migration from paper cheques to Automated Clearing House (ACH), wire, SWIFT and card payments, leveraging a global directory of vendor account details.
SunGard’s AvantGard is a liquidity management solution for corporations, insurance companies and the public sector. SunGard is a global software and technology services company currently serving 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector.
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