SunGard’s AvantGard Helps Henkel Win Award for Working Capital Management

Henkel, a global leader in brands and technologies, has been awarded an Alexander Hamilton Award for Working Capital Management. In achieving the award, Henkel was able to demonstrate significant working capital efficiencies, thanks largely to its use of SunGard’s AvantGard Receivables solution. The solution has helped Henkel to realize improvements in collections on past due accounts, increase its visibility to cash and decrease past due accounts receivable.

The Alexander Hamilton Award is given by the annual Treasury and Risk Summit. Pre-requisites for the award include demonstrable cash flow forecasting and centralization efforts, and evidence of significant working capital management efficiencies. SunGard’s AvantGard Receivables solution replaced a number of disparate systems at Henkel, giving it a return on its investment within two months. It has also helped Henkel automate its collection strategies and improve customer communications.

Scott M. Miller, vice president of finance, order-to-cash for Henkel, commented: “With the help of the AvantGard Receivables solution we have been able to measurably improve our productivity by centralizing our credit and collections operations. The Alexander Hamilton Award is a testament to the achievements we have made and the ongoing efficiencies of our receivables department.”

C. J. Wimley, group vice president, global order-to-cash solutions for SunGard’s banks and corporations business, commented: “By automating many formerly manual processes, AvantGard helps Henkel to process its receivables portfolio every day. This frees up time for them to focus on more strategic activities. The AvantGard Receivables solution helps Henkel’s continuing drive to improve its receivables operations and its cash flow management. We are pleased that Henkel has received the award and the recognition that it deserves.”