In seeking a treasury solution, LGE required a system that would provide core treasury functionality for its global operations including cash management and multi-currency capabilities, specifically to improve forecasting reliability and leads times, and to strengthen global cash management capabilities and treasury visibilities. LGE was also seeking a solution that would provide a single platform for future growth and expansion.
Importantly, the solution needed to enable LGE to centralize its treasury operations across the globe. LGEâs regional treasury centers will connect to the core AvantGard Quantum system through Citrix Server Metaframe. AvantGard Quantum will provide LGEâs regional treasury centers with the ability to submit financial transactions and requests direct to the core system, initiate real-time data queries and access reports on demand. Additionally Web-enabled AvantGard-eTreasury will provide LGEâs subsidiaries with the ability to submit financial transactions and requests to LGEâs regional treasury centers, initiate real-time data queries and access reports on demand.
Mr. Byeong Il, Min, Manager of LGEâs International Finance Group, said, "Our vision at LGE is to consolidate our treasury operations and maintain Korea as our central operation with key regional treasury centers across the globe. These regional centers will be responsible for the treasury operations of our subsidiary companies in each region. This centralized structure will help improve our operational efficiencies and procedures, and reduce costs. Through the implementation of AvantGard we now have the capability to achieve this."
Key to LGEâs decision was a solution that would help it to consolidate its payment processing across all subsidiary companies. AvantGardâs Mass Payment module will help LGE to consolidate its account payment processing to a function of its global treasury operations. This consolidation will help LGE to maintain a secure environment that avoids multiple relationships and helps reduce transaction costs.
"Given our immediate centralisation objective of the treasury operation and payment process, it was important that we partnered with a global leader, with regional strength and a proven solution. SunGard could deliever in each of these categories, whilst providing us with the platform to help expand our treasury operations into the future," concluded Mr. Min.
John Wilson, president, SunGard Asia Pacific, said, "Improving efficiencies and straight-through processing capabilities is key as we all strive to reduce costs and improve service levels. AvantGard is a leading treasury solution in the Asia Pacific region and its e-Treasury capabilities help organizations to centralize their operations whilst helping ensure that their regional and support offices can access the data they need in real-time. This type of capability proves a tangible benefit to our customers and helps them to achieve their objectives and remain competitive. SunGard is pleased to be partnering with LGE and expanding our operations in Korea and across the region."