J.P. Morgan Affiliate Selects QSP As ASP Provider

J.P. Morgan Affiliate Selects QSP As ASP Provider

Business Editors


Arcordia Solutions Latest Company Added to Global Client List

QSP, the award-winning provider of industry-leading financial management solutions for Global 2000 companies, announced today a new contract to provide an internal financial management service via ASP to Arcordia Solutions Ltd. QSP will provide an internal software accounting package to Arcordia encompassing General Ledger, Accounts Payable and Accounts Receivable. Arcordia Solutions offers processing and consultancy services to its United States parent company, Arcordia. Arcordia provides technology and operations solutions to finance institutions to manage the post trade settlement and management of OTC derivatives.

“We chose QSP because of its proven track record with existing customers within the financial community,” said Diane Brunsden, Arcordia’s IT director. “In addition, QSP was able to demonstrate experience in the ASP arena with examples from over 30 existing customers. Sitting at the heart of the business, the information that Arcordia can glean from this ASP service will allow better and more effective control over our total business.”

This financial management service will be implemented in two phases: the initial phase includes the installation of the general ledger, which will be completed in less than 18 days. The final phase will involve the implementation of the remaining standard financial software, including QSP’s Business Intelligence and reporting analysis tools.

“Arcordia needed a robust, flexible, enterprise-class solution that is able to cope with its future business growth and is combined with the right levels of support,” said Gordon Quick, QSP’s vice president of marketing for the United States. “We will be able to meet all of these needs within the very tight timeframe we were given, which stands as a true testimony to the advantages our ASP solution offers.”

About Arcordia Solutions Ltd.

Arcordia Solutions Limited, an affiliate of J. P. Morgan, is a new company that began trading on April 1, 2000. Arcordia, based in the U.S., delivers a comprehensive service to confirm and settle OTC derivative trades. It provides technology, operational services and consulting services and is committed to the ASP approach to technology using the Internet to deliver its derivatives services to clients.

About QSP

QSP enables financial process optimization (FPO) through its financial software, e-business solutions, professional services and Application Service Provider (ASP) Division. QSP’s FPO solutions are scalable, in real-time and support all financial processes within an organization, including budgeting and forecasting, travel and expense management, and business intelligence. Specific FPO solutions address vertical market requirements, and QSP’s Application Service Provider division provides application rental and management services.

QSP serves major organizations in more than 20 countries from offices throughout the U.S., UK and Asia Pacific. QSP has clients in key vertical markets including finance, retail, airlines and insurance. Customers include America West Airlines, Stop & Shop Supermarkets, Office Depot, The Bank of England, Colonial Financial, Burns International Services Corporation, Telstra, British Airways, the London Stock Exchange and BMW.

For more information on QSP, its solutions and services, visit the company Web site at http://www.qspgroup.com or call 800/659-8639.

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