LG Electronics selects AvantGard-Quantum for treasury consolidation
LG Electronics, the global provider of electronics, information and communications products based in Korea, has chosen Sungard's AvantGard-Quantum product to manage its global treasury operations and the treasury operations of its 74 subsidiary companies across the globe.
LG's decision, according to Mr. Byeong Il Min, manager of its international finance group, was determined by its need to consolidate its payment processing across all subsidiary companies. He says:
?Our vision at LG is to consolidate our treasury operations and maintain Korea as our central operation with key regional treasury centres across the globe. These regional centres will be responsible for the treasury operations of our subsidiary companies in each region. This centralized structure will help improve our operational efficiencies and procedures, and reduce costs.
?Given our immediate centralisation objective of the treasury operation and payment process, it was important that we partnered with a global leader, with regional strength and a proven solution. SunGard could deliver in each of these categories,? adds Min.
John Wilson, president, SunGard Asia Pacific, commented: ?AvantGard is a leading treasury solution in the Asia Pacific region. It can help organizations to centralize their operations while their regional and support offices can access the data they need in real-time. This