SunGard today announced that VGZ-IZA of the Netherlands, a health insurer and services provider, has selected SunGard's AvantGard for its treasury centre in Nijmegen.
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. VGZ-IZA selected AvantGard-Integrity to provide increased debt and liquidity management functionality and straight-through processing with integration into banking and ERP systems.
"Our existing technology was unable to meet the increasingly higher transaction volumes passing through treasury and the payments factory," said Erik Kemper, treasurer of VGZ-IZA. "We were looking for an integrated solution using an Oracle database that would handle our liquidity and debt portfolios and associated risk management. We required the solution to assist in providing timely cash position reporting and to deliver an efficient payment factory. Our projected future business growth was a major consideration in our selection criteria as the chosen solution would have to provide both the advanced technology and the capacity to support the resulting increase in treasury activity. We selected AvantGard because it meets these requirements and will help to automate our treasury processes."
"The integration of AvantGard into the company's accounting system will help VGZ-IZA to meet the internal and regulatory requirement for reliable, efficient process controls throughout the treasury operation," said Martin Boyd, executive vice president, EMEA, of SunGard's AvantGard business unit.