Fibergrate Selects AvantGard for Credit and Collections Management

SunGard announced that Fibergrate, a global manufacturer of fiberglass reinforced plastic (FRP) products for industrial and recreational use, has selected SunGard’s AvantGard Receivables solution to help automate invoice collection and dispute management. AvantGard Receivables helps customers to improve liquidity management and operational control.

“Our accounts receivable processes were manual and we were constantly wasting time on administrative tasks,” said Travis Kirsch, chief financial officer of Fibergrate. “Our dispute volume was also increasing and we lacked visibility and control to effectively manage them. While we knew we needed automation technology, we lacked the capital and resources required to implement a traditional licensed-based receivables management solution. AvantGard’s ‘On Demand’ solution met these challenges offering a monthly subscription-based model without the costs of hardware or ongoing maintenance. We can now focus our efforts on increasing our cash flow and reducing our dispute cycle time and volume.”

AvantGard’s ‘On-Demand’ or Software-as-a-Service (SaaS) model offers significant advantages for small-to-medium sized businesses looking to benefit from automation software without the upfront costs associated with licensing. The ‘On Demand’ models offers predictable expenses, ease of installation, automatic upgrades and reduced IT resource requirements. AvantGard’s ‘On Demand’ solution interfaces with ERP and A/R systems to help streamline and automate the management of credit, collections and dispute resolution.

“The option to implement an ‘On Demand’ solution is a great answer for small-to-medium sized businesses that want to automate their accounts receivable processes but lack the capital and IT support often required for licensed-based software models,” said C.J. Wimley, chief operating officer of SunGard’s AvantGard Receivables business unit. “With an ‘On Demand’ solution, companies are able to focus on improving their liquidity management using a robust solution, housed in a secure data center with maintenance and support wrapped into the monthly subscription cost.”

Effective management of accounts receivable is a critical area to target for liquidity management and process improvements as it is a key driver of cash, cost containment and customer relationships. AvantGard provides an end-to-end collaborative financial management solution which is able to touch cash coming in and out of the enterprise at every point, thus giving the CFO and Treasurer tools to help drive maximum value from working capital and help reduce risk.