Lennox International Selects SunGard’s AvantGard for Hosted Treasury, Risk and Investment Management

Lennox International Inc (LII), a leading provider of climate control solutions for heating, air conditioning and refrigeration markets around the world, has selected SunGard’s AvantGard Treasury in a hosted environment. The solution will be deployed in a secure SunGard facility and will be fully supported and maintained by SunGard.

LII chose to implement AvantGard Treasury because the solution supports bank account compliance, foreign exchange (FX), debt and investments, as well as traditional cash management. AvantGard Treasury will help LII improve its global visibility into cash positions and investments, help increase process efficiencies, and support audit controls. By deploying the solution in a hosted environment, LII will benefit from decreased IT and infrastructure costs. With SunGard as its single treasury and accounts receivables provider, LII will also gain a single point of contact for IT support and application management.

Janice Jackson, LII’s assistant treasurer, said, “SunGard’s AvantGard will provide support for our complex treasury operations, including management of multiple banks accounts, FX transactions, and other investments. We elected to do this in a hosted environment, because we reasoned that relinquishing responsibility for the deployment and support of the solution to SunGard would afford us better efficiencies and more resources to devote to our organizational goals.”

Erlend Asker, senior vice president, global treasury solutions for SunGard’s AvantGard business unit, said, “Hosted solutions in the treasury space help our customers lower costs and improve efficiencies while gaining a comprehensive solution for treasury, risk and cash management.”