Denmark (Vocus) April 28, 2009
Coloplast A/S, a Danish medical device manufacturer, has selected SunGard’s AvantGard to support its treasury, risk and cash management activities. AvantGard will provide Coloplast with a single, centralized treasury database, helping the company improve control and visibility of its cash and risk positions. The solution’s scalability will also help support Coloplast’s global expansion plans.
Lars Einar Hansen, senior vice president of corporate finance at Coloplast, said: “Due to the global expansion of our business and the increased requirements for controls and compliance, Coloplast needs a treasury management system that covers all areas within our treasury function and can support straight-through processing (STP). We believe that AvantGard will help give us the modern and standardized functionality we need.”
Andrew Woods, vice president for treasury solutions at SunGard’s corporations business, commented: “The AvantGard solution suite has a proven ability to help companies such as Coloplast extend the size and scope of their business. It does this by offering treasury support that drives standardization across the organization, regardless of where data is originated or viewed. This centralized approach helps make it easier for companies to gain a real-time view of cash and risk at any given time, from any location in the world.”
About Coloplast A/S
Coloplast A/S was founded in 1957 and has been listed on the Copenhagen Stock Exchange since 1983. The company develops, manufactures and markets medical devices and services that help to improve quality of living. Coloplast A/S has three product areas, including: ostomy, urology and continence care products, as well as dressings and skin care products for the prevention and treatment of chronic wounds.
For further information please contact
Coloplast in general: Director of External Relations, Elisabeth Geday, +45 49111922
Treasury operations: Director of Treasury, Sune Rasborg, +45 49112511
SunGard’s AvantGard is a leading liquidity management solution for corporations, financial institutions and the public sector. AvantGard provides chief financial officers and treasurers with real-time visibility into cash flows and increased operational controls around treasury, receivables and payments management. The solution aggregates data for a single view of cash, drives productivity through automation, and fosters collaboration between trading partners. For more information, visit http://www.sungard.com/avantgard
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries, including the world’s 25 largest financial services companies.
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 exceeding $5 billion, SunGard is ranked 472 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented five times. For more information, please visit SunGard at http://www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.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.
For more information, please contact:
Toby West, PR & Communications Manager
SunGard Financial Systems
Tel: +44 (0) 20 8081 2426