Germany's Tchibo Holding signs for SunGard's AvantGard

Source: SunGard

SunGard today announced that Germany's Tchibo Holding AG, a retail and consumer goods company, has selected SunGard's AvantGard for its treasury centre in Hamburg.

AvantGard is a leading treasury and risk management solution suite offering Internet/intranet-based currency and commodity trading and risk management, cash management and accounting within a single environment.

"We set high standards for a treasury management system to help ensure that we could achieve our targets of straight-through processing and increased efficiency throughout our treasury operation," said a spokesperson of Tchibo Holding AG in Hamburg. "We were looking for an integrated solution that would handle our money market and foreign exchange transactions and our interest rate hedging activity. An advanced level of security and control was essential to our need. We selected AvantGard because it met these requirements and helps automate our treasury processes."

"The need for tight security and controls within the treasury environment has never been keener and the associated reporting is central to a complete solution," said Martin Boyd, executive vice president, EMEA, of SunGard's AvantGard business unit. "AvantGard will help support the increasing demands of the treasury operation within the expanding Tchibo group and typifies our commitment to Germany."

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