Tesco Selects SunGard's AvantGard for Hosted Treasury Management and SWIFTNet Connectivity

London - 28 April 2008

SunGard today announced that Tesco, one of the world’s largest international retailers, has selected SunGard’s AvantGard to provide it with both a hosted treasury management solution and an integrated platform for SWIFTNet messaging and connectivity. AvantGard is a leading liquidity management solution for corporations, financial institutions and the public sector.

Seven years ago Tesco selected SunGard’s AvantGard as its treasury management solution. Tesco has now expanded its relationship with SunGard by opting to have SunGard host its AvantGard solution, helping Tesco’s staff concentrate on its core competencies whilst significantly reducing its reliance on local IT resources. The hosted solution offered by SunGard helps provide secure online customer access with a single point of contact for all support elements. It also leverages SunGard’s technical and functional expertise to help ensure system availability and lower total cost of ownership.

Chris Rowland, treasury manager at Tesco, said, “With a platform now in place that can be expanded for global reach, we are able to input forecasting data from subsidiaries in China, Thailand and Poland. This is increasingly important as our business in those countries continues to expand at a rapid rate. We are confident in our decision to select SunGard’s cash management framework for our business.”

After reviewing its treasury management processes and straight-through processing (STP) capabilities Tesco found that it also needed a solution for SWIFTnet messaging and connectivity. Tesco selected SunGard’s SWIFT Member Concentrator service to help reduce the internal infrastructure and administration costs related to the implementation and maintenance of a SWFT connection.

Andrew Woods, treasury solutions leader at SunGard, said, “We are pleased that Tesco has chosen SunGard’s AvantGard hosted treasury management solution and SWIFTNet connectivity. By managing everything in-house on behalf of Tesco, SunGard provides a fully supported solution with a single point of contact, ultimately helping Tesco reduce costs and address its wider business objectives.”

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