Racetrac Petroleum Implements Second Phase of SunGard's AvantGard-ICMS
US petrol and foodstore retailer Racetrac Petroleum has selected SunGard’s AvantGard-ICMS to support domestic cash management, in-house banking, debt and investment and reporting needs for 525 retail stores throughout the south-eastern US. Racetrac, with annual revenue in excess of $3.2bn, selected AvantGard-ICMS to meet its current requirements and to accommodate continued company growth. Racetrac has already completed the first and second phases of implementation, which included cash management, G/L interface bank polling and parsing of accounts and reconciliation of individual store data at the summary level for such items as bank deposits, automated change orders and money orders. Phase three will include debt and investment portfolio and forecasting.