SHANGHAI, Nov. 28, 2011 /PRNewswire-Asia/ -- A roundtable discussion hosted by SunGard and EuroFinance in Shanghai explored the challenges faced by finance executives in China-based multinational companies (MNC's) and state-owned enterprises (SOE's) and revealed a greater need for more sophisticated treasury strategy and systems to help meet the challenges of tight credit markets, increased regulations and the ambitious growth and international expansion of China's economy. The highlights from the roundtable are summarized in the EuroFinance whitepaper, Treasury management during a period of credit tightening, which can be found here: http://www.eurofinance.com/research-and-analysis/opinion-_and_-research/articles/treasury-management-during-a-period-of-credit-tightening/.
Many corporations in China, both MNC's and SOE's, are working to implement treasury management systems. The companies in the roundtable discussion commented that the right treasury management system will help them centralize their treasury and liquidity management to increase transparency to cash; gain more insights into their financing options; better understand their FX exposures; increase their visibility into various types of risks; and remain compliant with changing regulations.
"Treasury managers in China are in the front line of supporting the growth of multinational companies, both foreign-based and indigenous," said Wu Chen, Senior Editor (Asia Pacific), EuroFinance, The Economist Group. "China remains the bright spot on any MNC's global map. Many overseas headquarters have set ambitious growth targets for their China operations. It's therefore important to focus more on the latest treasury management systems to help improve efficiency and raise productivity at the same time."
"It is an exciting time for treasurers and finance executives in China," said Mingmei Chang, vice president China of SunGard's corporate liquidity business. "While China's rapid economic growth and international expansion present many opportunities, there are also important challenges to overcome. Forward thinking companies are successfully leveraging best practices and innovative treasury technology to help them centralize their treasury and cash management, manage their FX exposures and risks, and maintain open communication channels with government regulators."
About SunGard's AvantGard
SunGard's AvantGard is a leading liquidity and risk management solution for corporations, insurance companies and the public sector. The AvantGard solution suite includes credit risk modeling, collections management, treasury risk analysis, cash management, payments system integration, and payments execution delivered directly to corporations or via banking partners. AvantGard solutions help consolidate data from multiple in-house systems, drive workflow and provide connectivity to a broad range of trading partners including banks, SWIFT, credit data providers, FX platforms, money markets, and market data. The technology is supported by a full range of services delivered by domain experts including managed cloud services, treasury operations management, SWIFT administration, managed bank connectivity, bank on-boarding, and vendor enrollment. For more information, visit www.sungard.com/avantgard.
About SunGard
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves over 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about US$5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, visit www.sungard.com.
Trademark Information: SunGard, the SunGard logo and AvantGard are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
