Sendero Corp., a developer of asset/liability management software, has entered a joint development and marketing effort to add profitability-measurement software to its product line.

The company, a subsidiary of Fiserv Inc., will work with Greenwich Software and Consulting Group in the project. Terms of the agreement, made public last week, were not disclosed.

Sendero chairman Roland D. Sullivan said the agreement would accelerate his company's development of profitability software and its integration with Sendero's existing products.

Revamping Announced

The president of Greenwich Software, Mark Hart, has spent the past decade developing cost-accounting and profitability systems that operate on microcomputers.

In September, Sendero announced plans to revamp its core asset/liability management product, the Sendero Model. That product, which currently runs on MS-DOS PCs, will be replaced by an upgraded package called SVAL, which will use the Microsoft Windows operating environment as well as updated relational-database technology.

A PC-based software package called Sendero PAR, for profitability analysis and reporting, is the first product from the new partnership. The PAR software, according to Sendero, handles both product and organizational profitability measurement.

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