SunGard’s AvantGard Treasury Customer Recognized in Hui Chuan Awards

Beijing - 12 October 2010

SunGard’s AvantGard treasury customer, CNOOC Limited was recognized in the Hui Chuan Awards 2010, presented by Treasury Today and Eurofinance. The awards identify best practices and innovation within the corporate treasury arena, with eligibility limited to companies operating in mainland China.

CNOOC Limited’s use of AvantGard Treasury contributed to its win in the “Treasury Practice Innovation” category. Companies entered in the awards were evaluated on their ability to display tangible results in the form of cost savings and above average return on investment (ROI), through to exceptional implementation and quantitative improvements in efficiency.

Xiaofeng Huang, general manager, treasury department, CNOOC Limited, said, “At the end of 2008, we made the decision to centralize the treasury operation of CNOOC Limited. By improving automation through the treasury management system, we have reduced the need for staff to spend time on routine tasks, so they can be more profitably employed on skilled activities. It is easier to monitor the company’s cash, and management reporting is now produced more quickly and accurately.”

Wesley Bernard, executive vice president of SunGard’s corporations business in China, said, “Our customer’s recognition in these awards demonstrates our ability to help companies in Asia achieve greater sophistication in how they manage liquidity. Corporations in China are increasingly turning to treasury management systems to support them in promoting efficiencies and obtaining access to data as they extend the scope of their business dealings globally. AvantGard supports the unique set of business and regional requirements to help customers in Asia achieve these goals.”

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