London, England (PRWEB) October 11, 2011
British Airways, the UK’s flagship airline and one of SunGard’s longest-standing treasury customers, will expand its use of AvantGard Treasury for the UK, Europe and North America. It will roll out the cash management solution across the Middle East, Africa, Asia and Latin America including its regional hubs in Hong Kong, Delhi, Johannesburg and Sao Paolo. Once fully implemented worldwide, British Airways will benefit from an enhanced view of its treasury, cash and risk both on a regional and global basis.
Having first partnered with SunGard twelve years ago for treasury and risk management, British Airways made the decision to streamline its cash management process by expanding its use of AvantGard Treasury to introduce greater integration and automation to cash management and forecasting, globally.
Mike Maybury, cash manager, group treasury for British Airways, said, “We chose SunGard’s AvantGard to support our global treasury operation and to automate our cashflow forecasting. AvantGard will facilitate effective local cash management at our regional hubs via improved visibility and control of their cash positions, while also delivering to central Treasury consolidated views of cashflows and currency exposures worldwide.”
Paul Bramwell, senior vice president, treasury solutions for SunGard’s AvantGard business unit, said, “We are pleased to continue our long and successful relationship with British Airways. Its decision to expand its use of AvantGard on a global basis is a testament to the value British Airways finds in AvantGard. Our global services organization will be working on the ground to help bring the full enterprise into a centralized solution, offering increased visibility and control over cash and risk."
About British Airways
British Airways is the UK’s largest international scheduled airline, flying to more than 150 destinations worldwide and carrying more than 32 million passengers last year. BA also operates a worldwide air cargo business and is one of the founder members of the oneworld airline alliance. The merger of British Airways with Iberia under International Airlines Group (IAG) was completed earlier this year, creating the world’s sixth largest scheduled airline by revenue.
About SunGard’s AvantGard
SunGard’s AvantGard is a leading liquidity management solution for corporations, insurance companies and the public sector. AvantGard provides chief financial officers and treasurers with real-time visibility into cash flows and increased operational controls around receivables, treasury and payments. AvantGard helps companies drive free cash flow and reduce inefficiencies across the ecosystem of suppliers, buyers, banks and other trading partners. For more information, visit http://www.sungard.com/avantgard.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves more than 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, please visit http://www.sungard.com.
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