Source: SunGard Asia Pacific
SunGard Asia Pacific, an operating unit of SunGard (NYSE:SDS), today announced that Acer Incorporated (Acer), with a focus on globally marketing its brand-name products: desktop and mobile PCs, servers and storage, displays, peripherals, and e-business solutions, has selected SunGard's AvantGard solution for its corporate treasury requirements.
AvantGard-Quantum, AvantGard-Risk and AvantGard-eTreasury will be implemented in Taiwan. Acer also plans to expand usage to Europe, America and throughout Asia.
AvantGard-Quantum will assist Acer to consolidate its treasury management operations. Acer's underlying strategy of global corporate expansion was behind the decision to implement a multi-regional solution.
Acer's chief financial officer, Howard Chan, said, "We selected SunGard after examining various industry offerings and recognising AvantGard's extensive functionality. AvantGard is a tier one corporate treasury solution with a proven track record and implementation experience. We believe that we can benefit from SunGard’s expertise in the arena of treasury management."
AvantGard will assist Acer in effectively managing its cash position, providing a view of positions, forecasting and the ability to integrate cash exposures into a common view. AvantGard will also facilitate the management and reporting of the group's financial risk, including liquidity, and FX exposure. Acer will utilise AvantGard-eTreasury for the internal dealings between Acer subsidiaries and the Regional Treasury Center.
Mr Chan said, "AvantGard will offer us straight-through processing with front-to-back integration, incorporating comprehensive dealing, risk management, position-keeping and settlement functions. This will assist us in reducing costs and errors while helping improve our overall operational efficiency and business processes."
John Wilson, president of SunGard's Asia Pacific business unit, said, "Acer has recognised the importance of having the support of a strong treasury solution when striving to keep pace with competitors in Europe and America. Acer is the first corporate in the region of Greater China to partner with SunGard for a corporate treasury solution. SunGard’s globally proven solutions can be customised to meet the specific requirements of the region. Our partnership with Acer continues SunGard’s tradition of building strong relationships with business partners throughout Asia Pacific."