SunGard BancWare to Partner with Acorn Systems for Enhanced Profitability Offering
SunGard's BancWare business unit has entered into an agreement with Acorn Systems to offer Acorn's Cost Analyzer for Activity Based Costing as part of BancWare's integrated risk and performance management suite of solutions for financial organizations.
Under the terms of the agreement, SunGard will become a value-added reseller of Acorn's Cost Analyzer application, and will provide clients with implementation services and support. SunGard is integrating Acorn's application with its BancWare solutions for Data Integration and Profitability.
With the addition of Cost Analyzer, BancWare Profitability will help users to accurately and efficiently associate activity-based costs with any profitability dimension or view, including customer, product, delivery channel, organization, unit, branch, and many others. Through its ability to identify, quantify and link detailed cost elements to user-defined cost objects, the solution will deliver the flexible, multidimensional analysis and reporting required by today's leading financial institutions to accurately measure profitability and performance to their competitive advantage.
"We are pleased to offer our clients a complete solution for calculating profitability and performance measurement across the organization," said Terence Faherty, president of SunGard's BancWare business unit. "The addition of Acorn´s Cost Analyzer allows us to provide best in class calculations of margin, cost and capital - delivered within a robust, web-enabled environment - making it easy for our clients to analyze and maximize their profitability."
"SunGard BancWare is a trusted, brand name provider in the financial services industry, with a strong client base and an equally impressive solution set," said Leland Putterman, Chief Executive Officer of Acorn Systems. "We are pleased to partner with SunGard by extending its solution offering, and helping its clients to further increase profits and drive incremental shareholder value. This relationship strengthens Acorn's go-to-market strategy of working with complementary solution providers in each industry that we serve."
