Abu Dhabi, UAE (PRWEB) June 21, 2011
AI Fahim Group, one of the largest family conglomerates with diversified businesses across the United Arab Emirates, has selected SunGard's AvantGard Treasury to help further optimize the management of its treasury operations. AvantGard Treasury will help AI Fahim Group automate its cash management processes.
AvantGard Treasury will interface with AI Fahim Group's existing enterprise resource planning (ERP) systems. In addition to treasury and cash management, it will help foster bank connectivity for such functions as uploading MT940 customer statement messages, as well as help automate the reconciliation process and improve cash forecasting. AI Fahim Group's decision to select SunGard was largely influenced by SunGard's local expertise and presence in the region, as well as AvantGard Treasury's ability to establish controls for best practices, which will aid the company in its long-term sustainable growth strategy.
"We selected AvantGard Treasury because the application offers the tools we require to help us automate processes within our Treasury group. Additionally, SunGard's presence in Abu Dhabi provides the security of knowing we are working with a local partner. We expect that the combination of technology and local support from SunGard will aid in the growth of business," said Ahmad Nassar, group treasurer, AI Fahim Group.
"Many organizations in the UAE are taking notice of the value and cost savings that treasury technology can bring in helping support growth and global expansion. The AI Fahim Group project demonstrates SunGard's success and commitment to this region across our various liquidity management solutions," said Wissam Khoury, managing director, Middle East, SunGard Financial Systems.
About AI Fahim Group
AI Fahim Group is one of Abu Dhabi's most successful family businesses. The company was founded by the late Abdul Jalil AI Fahim in 1958, a visionary entrepreneur who led the company until his death in 1996. Today, it continues to be directed by a board composed of eight brothers, intrinsically motivated to preserve and enhance the business seeds sown by their father - for the good of the country, and their compatriots.
As Abu Dhabi moves forward, AI Fahim Group continues to support the country's progress by servicing the needs of the new economy with excellence and quality - whether providing safe, reliable service and support to fuel the continued growth of Abu Dhabi's oil and gas fields; distributing top-quality, luxury cars to ensure its residents have the ways and means to travel the roads in comfort; building and managing world-class hotels and residences to accommodate a growing influx of tourists and residents; or investing in a board portfolio of local, regional and global interests to generate funds to support continued growth opportunities. http://www.alfahim.com
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.