Food, coffee and confectionery giant Nestle SA and SunGard Treasury Systems today announced that Nestle has selected SunGard’s Quantum Treasury System for the management and control functions of its Treasury operations, based in Vevey, Switzerland.
Nestle SA chose Quantum to handle its foreign exchange, interest rate and derivative products and for its sophisticated risk and cash management functions.
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“We are delighted to partner with Nestle SA in this strategic project,” said Martin Boyd, managing director, SunGard Treasury Systems, Europe. “The Nestle selection process established a new milestone in the way we approach major corporations.
“Early involvement in the customer’s requirements definition process allowed the breadth of our product and service offering to demonstrate valuable differentiation and business advantage. In particular, a key element of the implementation process for Nestle will also involve re-engineering the Treasury business processes,” he said.
The use of SunGard’s Quantum Treasury System will be integrated into Nestle’s overall systems infrastructure, including its recently signed agreement with SAP.
Quantum is a total front-, middle- and back-office treasury, cash and risk management system, which enables real-time, straight-through processing, from the point of deal capture through to settlements, confirmations and accounting. Quantum is now — along with GTM, ICMS/TS, ProFX and ResourceIQ2 — a fully integrated and Web-enabled SunGard treasury solution.
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By GlobalDataNestle SA, in business since 1866, has a work force of approximately 230,000 people and some 509 factories worldwide. Nestle not only is Switzerland’s largest industrial company, but is also the world’s largest food company.
Nestle products are available in nearly every country around the world. The group generates close to US$45 billion in total annual sales and has a market capitalization in excess of $65 billion.
SunGard Treasury Systems is an operating group of SunGard (NYSE:SDS – news), a global leader in integrated IT solutions and e-processing for financial services. SunGard is also the pioneer and a leading provider of high-availability infrastructure for business continuity.
With annual revenues in excess of $1 billion, SunGard serves more than 10,000 clients in more than 50 countries, including 47 of the world’s largest 50 financial-services institutions. Visit SunGard at www.sungard.com.
