Ensemble, a provider of technology to the financial markets and distributor of selected SunGard products, has announced the availability of AddVantage, SunGard`s new asset management software solution, which is Web-enabled and based on Microsoft`s Windows 2000.
Mark Dijon, a director at ensemble, says of AddVantage: "All functions can be accessed in real-time through a browser with accounting information instantly updated seven days a week, 24 hours a day."
He adds that Loring, Wolcott & Coolidge Office (LWCO), a Boston private trust and investment management firm managing $5.6 billion in assets invested primarily in growth equities, has been using AddVantage for several months.
Dijon describes AddVantage as combining back office asset management and trust accounting features with SunGard`s AddVantage Front Office suite. "Business-building front-office applications include client Internet access, customer relationship management, workflow automation and financial planning and analysis. The AddVantage product line is tightly integrated with Microsoft Office, which is designed to deliver increased productivity and communication solutions," he says.
With Microsoft Windows 2000 at its core, AddVantage is able to offer all functions on a single platform. AddVantage offers unlimited growth and volume processing capability through its modular design incorporating CACH'E as its database engine. CACH'E, the flagship product of InterSystems Corporation (www.e-DBMS.com), is a post-relational database with a multidimensional data and application server offering ultra-fast and massively scalable objects and SQL.
"This time last year we declared our goal to be the first vendor to provide a full-featured, highly scalable back office solution built on the Windows 2000 platform. This year we announce our success," says Don Birdwell, group CEO of SunGard Asset Management Systems. "By offering the integrated combination of core asset management, advanced front-office applications, the SunGard Transaction Network, and Microsoft Office, we are providing our clients with an end-to-end solution for the Internet economy. Given the projected popularity of Windows 2000, it simply makes sense to offer our clients a Windows 2000-based solution."
"Working together, Microsoft and SunGard created AddVantage to meet customer needs for increased real-time data aggregation in a consolidated location," says Bill Hartnett, global director of financial services at Microsoft. "Windows 2000 provides SunGard with a scalable, reliable and cost-effective platform that has integrated Web capabilities for anytime, anywhere access. Furthermore, the Windows platform provides enterprise-wide integration, allowing AddVantage users to leverage mainstream market technologies and deploy their solutions to a wider customer base."
"We are impressed with AddVantage," says Michael Ashe, chief operating officer of LWCO. "The performance of the system is breathtaking - it quickens the pulse of our organisation. Online response time is almost instantaneous and the nightly update takes less than five minutes compared with the industry average of two to four hours. We have more than 50 professionals using AddVantage at any given time to service our 2 600 accounts. AddVantage gives us the technology we need to deliver premium service to our clients."
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