SunGard (http://www.sungard.com) today announced that Eskom, South Africa's primary electricity supplier, has chosen SunGard's AvantGard solution for treasury management.
Eskom will use AvantGard to help manage the front- to back-office operations of its treasury business for integrated cash, accounting and risk management. (http://www.sungard.com/avantgard)
Based in Johannesburg, Eskom is one of the top utilities in the world in terms of generation capacity. Providing ninety-five percent of South Africa's electricity, Eskom has one of the country's most extensive treasury operations.
Eskom will use AvantGard for deal capture and real-time cash flow management, which will help it to increase operational controls around treasury and better manage the risk inherent across these operations.
Eskom has selected AvantGard to replace several disparate systems by providing an integrated solution across a single platform. With 50 users across the organisation, Eskom will be able to enhance a broad scope of functions not only in its central treasury but also across other business units.
Caroline Henry, head of treasury at Eskom, said: "Our key objective in this project is to improve connectivity, straight-through processing and compliance. In choosing SunGard's AvantGard, we have selected a system that will address multiple needs in a single-vendor environment. We feel confident that through sophisticated technology and local expertise, SunGard will help to enhance our overall business process management, and in turn improve strategic decision-making."
Ken Dummitt, president of SunGard's banks and corporations business, commented: "Eskom's selection is a prime example of SunGard's ability to handle multi-faceted requirements, helping to drive a single view of cash and risk. We are a global organisation, providing a proven solution through a dedicated local project team."
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