Nestl'e chooses SunGard

Food, coffee and confectionary giant Nestl'e has implemented the SunGard Treasury system for the management and control functions of its treasury operations based in Vevey, Switzerland, Sungard`s local provider, ensemble, says.

Mark Dijon, director of ensemble, says: "Nestl'e chose Quantum to handle its foreign exchange, interest rate and derivative products and for its sophisticated risk and cash management functions."

Martin Boyd, managing director of SunGard Treasury systems, says: "The Nestl'e selection process established a new milestone in the way we approach major corporations. Early involvement in the customer`s requirements definition process allowed the scope of our products and service offering to demonstrate valuable differentiation and business advantage. In particular, a key element of the implementation process for Nestl'e will also involve re-engineering the treasury business processes."

Dijon adds that Quantum is particularly suitable for the SA market because it is a total front, middle and back office treasury, cash and risk management system. It enables real time, straight through processing, from deal capture through to settlements, confirmations and accounting. Along with GTM, ICMS/TS, ProFX and ResourceIQ2, Quantum is a fully integrated and Web-enabled SunGard treasury solution.