Press Release: Lennox International Selects SunGard's AvantGard for Hosted Treasury, Risk and Investment Management
November 3, 2009
Lennox International Inc (LII), a leading provider of climate control solutions for heating, air conditioning and refrigeration markets around the world, has selected SunGard's AvantGard Treasury in a hosted environment. The solution will be deployed in a secure SunGard facility and will be fully supported and maintained by SunGard. LII chose to implement AvantGard Treasury because the solution supports bank account compliance, foreign exchange (FX), debt and investments, as well as traditional cash management. AvantGard Treasury will help LII improve its global visibility into cash positions and investments, help increase process efficiencies, and support audit controls. By deploying the solution in a hosted environment, LII will benefit from decreased IT and infrastructure costs. With SunGard as its single treasury and accounts receivables provider, LII will also gain a single point of contact for IT support and application management. Janice Jackson, LII's assistant treasurer, said, "SunGard's AvantGard will provide support for our complex treasury operations, including management of multiple banks accounts, FX transactions, and other investments. We elected to do this in a hosted environment, because we reasoned that relinquishing responsibility for the deployment and support of the solution to SunGard would afford us better efficiencies and more resources to devote to our organizational goals." Erlend Asker, senior vice president, global treasury solutions for SunGard's AvantGard business unit, said, "Hosted solutions in the treasury space help our customers lower costs and improve efficiencies while gaining a comprehensive solution for treasury, risk and cash management." About Lennox International Inc.
Lennox International Inc (LII) is a leading provider of climate control solutions for heating, air conditioning and refrigeration markets around the world. LII has built its business on a heritage of integrity and innovation dating back to 1895. The 13,000 employees who make up LII are dedicated to providing trusted brands, innovative products, unsurpassed quality, and responsive service. About SunGard's 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. 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.
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