SunGard is set to launch on Sept. 22 a cloud-based, treasury-on-demand product for companies with up to $2 billion in revenue.
The new AvantGard Treasury XE aims to deliver support for cash management, foreign exchange, in-house banking, money markets and other transactions to middle-market companies, a new market segment for the treasury software provider.
"We're talking about addressing treasuries with two to five users, and two to four bank relationships," says Erlend Asker, SunGard's senior vice president for treasury solutions. The product will particularly appeal to companies that currently use spreadsheets to manage treasury processes and want a system that provides more compliance functionality, he says. For example, Treasury XE segregates functions by job roles and creates an auditable trail of any changes made to data.
The product will now be available in a software-as-a-service (SaaS) delivery channel, with a subscription-based pricing model. AvantGard Treasury XE runs on SunGard's Infinity cloud platform. The SaaS model is multi-tenanted, which means that there might be multiple clients sharing the same infrastructure.
Customers looking for more control or higher security can opt to use the product through one of the traditional alternatives--as software that is installed at the company, or as hosted software run on a dedicated machine at SunGard facilities.