London (PRWEB) May 11, 2011
Toyota Financial Services, the finance arm of the world’s largest car manufacturer, is expanding its use of SunGard’s AvantGard solution to include additional global treasury operations. Toyota Financial Services initially selected SunGard’s AvantGard Treasury in 2002 to help automate previously manual processes, and to support the increasing growth and complexity of its treasury.
Today, Toyota Financial Services uses AvantGard Treasury to help improve data integrity, create complex reports, establish audit and security controls, and free skilled treasury staff from time-consuming manual tasks. The company first implemented AvantGard in its UK operation and then added the Netherlands, Germany, Italy and South Africa. Current plans include bringing parts of Asia onto the common platform. AvantGard Treasury has been configured to meet the local requirements of each location, while serving as a single, unified, global treasury platform. The solution has also helped Toyota Financial Services handle a wide range of financial instruments and respond more quickly to fluctuations in the market.
Richard Nelson, European funding manager, Toyota Financial Services, said, “When we implemented AvantGard Treasury in 2002, we had a vision of what we wanted treasury to look like in the coming years, which included introducing improved straight-though processing (STP) into our operations and systems. Expanding the solution to our treasury locations globally has been a big part of achieving this vision. SunGard’s AvantGard helps us tailor certain functionality by country, while at the same time affords us the advantage of leveraging a single treasury platform.”
Paul Bramwell, senior vice president of treasury solutions for SunGard’s Corporate Liquidity business, said, “Many global companies with treasuries that operate regionally are challenged by inconsistent data and reporting formats, disparate systems and an inability to gain an overarching view of positions. SunGard’s AvantGard Treasury helps companies, like Toyota Financial Services, more easily consolidate and aggregate disparate data and pinpoint global cash positions for better decision-making. A common treasury platform also helps treasurers gain real-time access to data and a complete view of cash flowing across the broader organization, regardless of how widely dispersed the operations may be.”
About Toyota Financial Services
Toyota Financial Services (TFS) is a leading provider of automotive financial services, offering an extensive line of financing plans and vehicle and payment protection products to Toyota customers and dealers.
TFS is part of the worldwide financial services operations for Toyota Financial Services Corporation (TFSC), which is a wholly-owned subsidiary of Toyota Motor Corporation (TMC) in Japan.
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 25,000 customers in 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, visit http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo and AvantGard are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.