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Date Posted: 8/3/2005
Acer Selects SunGard's AvantGard For Corporate Treasury
TAIWAN--(BUSINESS WIRE)--Aug. 2, 2005--SunGard Asia Pacific, an operating unit of SunGard (NYSE:SDS - News), today announced that Acer Incorporated (Acer), with a focus on globally marketing its brand-name products: desktop and mobile PCs, servers and storage, displays, peripherals, and e-business solutions, has selected SunGard's AvantGard solution for its corporate treasury requirements. AvantGard-Quantum, AvantGard-Risk and AvantGard-eTreasury will be implemented in Taiwan. Acer also plans to expand usage to Europe, America and throughout Asia.
AvantGard-Quantum will assist Acer to consolidate its treasury management operations. Acer's underlying strategy of global corporate expansion was behind the decision to implement a multi-regional solution.
Acer's chief financial officer, Howard Chan, said, "We selected SunGard after examining various industry offerings and recognising AvantGard's extensive functionality. AvantGard is a tier one corporate treasury solution with a proven track record and implementation experience. We believe that we can benefit from SunGard's expertise in the arena of treasury management."
Phase one of implementation will be carried out at Acer in Taiwan, with phase two set for Europe.
AvantGard will assist Acer in effectively managing its cash position, providing a view of positions, forecasting and the ability to integrate cash exposures into a common view. AvantGard will also facilitate the management and reporting of the group's financial risk, including liquidity, interest rate movements, FX movements and credit risk. Acer will utilise AvantGard-eTreasury for the internal dealings between Acer subsidiaries and the Regional Treasury Center.
Mr Chan said, "AvantGard will offer us straight-through processing with front-to-back integration, incorporating comprehensive dealing, risk management, position-keeping and settlement functions. This will assist us in reducing costs and errors while helping improve our overall operational efficiency and business processes."
John Wilson, president of SunGard's Asia Pacific business unit, said, "Acer has recognised the importance of having the support of a strong treasury solution when striving to keep pace with competitors in Europe and America. Acer is the first corporate in the region of Greater China to partner with SunGard for a corporate treasury solution. SunGard's globally proven solutions can be customised to meet the specific requirements of the region. Our partnership with Acer continues SunGard's tradition of building strong relationships with business partners throughout Asia Pacific."
About Acer
Acer ranks among the world's top five branded PC vendors, designing and marketing easy, dependable IT solutions that empower people to reach their goals and enhance their lives. In 2000, Acer spun-off its manufacturing operation to focus on globally marketing its brand-name products: desktop and mobile PCs, servers and storage, displays, peripherals, and e-business solutions for business, government, education, and home users. Established in 1976, Acer Inc. employs 5,600 people supporting dealers and distributors in more than 100 countries. Revenues in 2004 reached US$7 billion. Please visit www.acer.com.
About SunGard Asia Pacific
SunGard Asia Pacific combines the global presence and strength of SunGard with local knowledge and expertise. Dedicated staff members in 12 offices in 10 countries across the region are committed to providing service, leading-edge technology and integrated solutions to the Asia Pacific financial services community. Serving over 400 customers in Asia Pacific, its key principles rest on quality service and support.
About SunGard
SunGard is a global leader in integrated software and processing solutions, primarily for financial services and higher education. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. SunGard (NYSE:SDS - News) is a member of the S&P 500 and has annual revenue of US$3 billion. Visit SunGard at 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.
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Contact:
SunGard Asia Pacific
Lisa Hall, +61 8 9463 3230
Fax: +61 8 9325 3204
lisa.hall@sungard.com
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Source: SunGard Asia Pacific
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