Shipping Giant Employs AvantGard for Treasury and Risk Management

AP Møller-Maersk, the largest corporate in Denmark with 2003 net revenues in excess of DKr157bn, has launched the first phase of SunGard’s AvantGard technology for treasury and risk management. The solution was chosen to give Maersk straight-through processing and direct connectivity to banks. It will next implement the system’s IAS 39 module. Maersk decided to search for a third party solution rather than upgrade its existing legacy system, and selected AvantGard, including AvantGard-Quantum as its core treasury platform, AvantGard-Risk for risk management and AvantGard-eTX for secure real-time connectivity with the banks. Torben Winther, Maersk’s director of treasury management, said: ‘We have just gone live on the first phase of implementing AvantGard, which includes risk management, transaction workflows, cash management and SunGard’s AvantGard-eTX. Already we have seen tremendous benefits in terms of smooth business process and tight integration across the operation.’

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