Toyota Financial Services Expands Use of AvantGard Treasury Solution
Toyota Financial Services, the finance arm of the car manufacturer, is expanding its use of SunGard’s AvantGard solution to include additional global treasury operations. Toyota Financial Services initially selected SunGard’s AvantGard Treasuryin 2002 to help automate previously manual processes, and to support the increasing growth and complexity of its treasury.
Today, Toyota Financial Services uses AvantGard Treasury to help improve data integrity, create complex reports, establish audit and security controls, and free skilled treasury staff from time-consuming manual tasks. The company first implemented AvantGard in its UK operation and then added the Netherlands, Germany, Italy and South Africa. Current plans include bringing parts of Asia onto the common platform. AvantGard Treasury has been configured to meet the local requirements of each location, while serving as a single, unified, global treasury platform. The solution has also helped Toyota Financial Services handle a wide range of financial instruments and respond more quickly to fluctuations in the market.
Richard Nelson, European funding manager, Toyota Financial Services, said: “When we implemented AvantGard Treasury in 2002, we had a vision of what we wanted treasury to look like in the coming years, which included introducing improved straight-though processing into our operations and systems. Expanding the solution to our treasury locations globally has been a big part of achieving this vision. SunGard’s AvantGard helps us tailor certain functionality by country, while at the same time affords us the advantage of leveraging a single treasury platform.”