Racetrac, with annual revenue in excess of $3.2 billion, selected SunGardâs AvantGard-ICMS solution because of its flexibility and scalability, which will help Racetrac to not only meet its current requirements, but to accommodate continued company growth. Racetrac also liked SunGardâs reputation for reliability and its financial strength. Before selecting AvantGard-ICMS, Racetrac financial executives met with a number of SunGard customers to evaluate the solution.
Racetrac has already completed the first and second phases of implementation, which included cash management, G/L interface bank polling and parsing of accounts and reconciliation of individual store data at the summary level for such items as bank deposits, automated change orders and money orders. Phase three will include debt and investment portfolio and forecasting.
"We selected SunGardâs AvantGard-ICMS because it could provide for our current needs and has the flexibility to accommodate our future needs. We also wanted a company that we could depend on to be around in 10 years, with the highest quality standard for solutions, services and customer care," said Dan Gordon, assistant treasurer, Racetrac Petroleum Inc.
"Racetrac is a familiar name in the southeastern U.S., and we are honored to be able to provide the solutions to help it achieve its domestic treasury goals," said Ken Dummitt, president, SunGard Treasury Systems. "We are pleased to work with Racetracâs committed team of treasury professionals dedicated to maximizing system functionality to meet specific back-office needs," he said.