PRESS RELEASE: Atlas Copco Extends Use of SunGard's AvantGard Receivables to Australia
July 27, 2009
Sydney, July 27, 2009 -- Atlas Copco, a world leading provider of industrial productivity solutions, has selected SunGard's AvantGard to support the company's Australian operations in automating and introducing a more strategic approach to collections and disputes. An existing AvantGard customer, Atlas Copco currently uses SunGard's AvantGard Receivables solution in its UK location to serve a pan-European operation as well as in the United States. The decision to implement the solution in Australia is part of a global initiative to embed best practices within the receivables group across the entire organization. Atlas Copco's Australian operations were using manual processes and spreadsheets to work, manage and facilitate key credit functions, which was becoming a time-consuming process. The company was looking for automation that would help alleviate non-goal oriented tasks and help staff become more strategic in their approach to collections and disputes. Given the company's increased focus on improving the way that working capital is managed, Atlas Copco implemented AvantGard in its Australia location to help streamline order-to-cash processes, support it in lowering days sales outstanding (DSO) and decrease the number of outstanding disputes and unpaid invoices. "The state of the economy has played a large part in our decision to implement AvantGard in our Australian operations, as the current crisis has reinforced the importance of cash flow in ensuring that we have strong liquidity and optimal working capital at our disposal. We have been pleased with the positive results of AvantGard in our other locations and look forward to achieving similar benefits in our Australian business," said John Davis, business controller at Atlas Copco. "Atlas Copco's decision to extend its relationship with SunGard through implementing AvantGard Receivables in Australia demonstrates the solution's ability to provide organizations with global support and tools for introducing best practices for the improved management of liquidity," said Tom Clipston, managing director of SunGard's corporations business in Australia and New Zealand. About Atlas Copco
Atlas Copco is a world leading provider of industrial productivity solutions. Atlas Copco companies develop and manufacture industrial tools, compressed air equipment, construction and mining equipment, assembly systems, and offer related service and rental. The products are sold and rented under different brands through a worldwide sales and service network reaching 160 countries, half of which are served by wholly or partly owned customer centers. About AvantGard
SunGard's AvantGard is a leading liquidity management solution for corporations, insurance companies and the public sector. AvantGard provides chief financial officers and treasurers with real-time visibility into cash flows and increased operational controls around receivables, treasury and payments. AvantGard helps companies drive free cash flow and reduce inefficiencies across the ecosystem of suppliers, buyers, banks and other trading partners. For more information, visit www.sungard.com/avantgard. About SunGard
SunGard is one of the world's leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries, including the world's 25 largest financial services companies. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at www.sungard.com. *January 2009 Technology Vendors Financial Database Tracker
http://www.datamonitor.com Trademark Information: SunGard, the SunGard logo and AvantGard are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders. For more information, please contact:
Adriana Senior
Vice President, Media Relations
SunGard Financial Systems
Tel: +1-718-578-1130
adriana.senior@sungard.com
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