Rand Water Selects SunGard’s AvantGard for Automated Treasury and Risk Management

25/11/2013

Rand Water, one of South Africa’s leading water utilities, has selected SunGard’s AvantGard Treasury (Quantum) for daily cash management and reporting, short-term cash flow forecasting and investment and foreign exchange risk management. The solution will also provide debt control and hedge accounting.

“We selected SunGard because AvantGard Treasury (Quantum) met our front, middle and back-office functional requirements. In particular, it offers a powerful interface for advanced risk reporting, user-friendly exchange connectivity and integration with our enterprise resource planning (ERP) and asset/liability management systems, as well as market data providers. The SunGard team also demonstrated an excellent degree of treasury domain expertise and local market knowledge, and the company’s reputation in South Africa for its reliability makes us confident we’ve chosen the right provider to help us transition into a new phase of treasury management.”

– Lucky Ncobela, treasurer, Rand Water
Rand Water, which plays an important role in the development of the region through water sanitation and accessibility projects, has been challenged by manual processes and a lack of cash visibility. In addition, data quality is inconsistent and human error poses significant risks. With a decentralized approach to treasury management, Rand Water will use AvantGard Treasury (Quantum) to provide improved visibility of cash and consolidated reporting across the firm. Improved forecasting capabilities will help reduce costs and improve the use of working capital.

According to a survey conducted by Protiviti and the Institute of Chartered Accountants in England and Wales, 23% of corporates have suffered financial or reputational losses due to excessive use of spreadsheets.

About SunGard Financial Systems
SunGard Financial Systems provides mission-critical software and IT services to institutions in virtually every segment of the financial services industry. The primary purpose of these systems is to automate the many detailed processes associated with trading, managing investment portfolios and accounting for investment assets. These solutions address the processing requirements of a broad range of users within financial services, including asset managers, traders, custodians, compliance officers, treasurers, insurers, risk managers, hedge fund managers, plan administrators and clearing agents. In addition, we also provide professional services that focus on application implementation and integration of these solutions and on custom software development.
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