AT&T selects SunGard's AvantGard for global treasury management
SunGard Treasury Systems, an operating group of SunGard (NYSE: SDS), today announced that U.S.-based AT&T, a global telecom and networking services provider, has selected AvantGard-Quantum and AvantGard-Risk to support its global cash management, foreign exchange and derivatives business. AvantGard will be used by treasury staff in the US, as well as in Europe, Asia and Latin America.
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Paul Riley, treasury director for global risk management at AT&T, said, "We selected AvantGard as our complete treasury solution to help us to increase automation of bank polling, improve global cash visibility and set our daily cash position. After a thorough evaluation, we chose SunGard because of its corporate reputation for reliability, its comprehensive AvantGard offering and its ability to provide global resources and support. Specific features that we liked in AvantGard include the advanced debt and investment capabilities, FAS 133 support, front-office dealing risk management, foreign exchange and enterprise multilateral netting."
Ken Dummitt, president, SunGard Treasury Systems, said, "SunGard has the presence, experience and resources to meet the global needs of AT&T. We look forward to the opportunity to provide AT&T with our most robust treasury solutions and our commitment to client care."