Tesco Selects SunGards AvantGard for Hosted Treasury Management and SWIFTNet Connectivity

SunGard (http://www.sungard.com) today announced that Tesco, one of the world's largest international retailers, has selected SunGard's AvantGard to provide it with both a hosted treasury management solution and an integrated platform for SWIFTNet messaging and connectivity. AvantGard is a leading liquidity management solution for corporations, financial institutions and the public sector (www.sungard.com/avantgard).

Seven years ago Tesco selected SunGard's AvantGard as its treasury management solution . Tesco has now expanded its relationship with SunGard by opting to have SunGard host its AvantGard solution, helping Tesco's staff concentrate on its core competencies whilst significantly reducing its reliance on local IT resources. The hosted solution offered by SunGard helps provide secure online customer access with a single point of contact for all support elements. It also leverages SunGard's technical and functional expertise to help ensure system availability and lower total cost of ownership.

Chris Rowland, treasury manager at Tesco, said, "With a platform now in place that can be expanded for global reach, we are able to input forecasting data from subsidiaries in China, Thailand and Poland. This is increasingly important as our business in those countries continues to expand at a rapid rate. We are confident in our decision to select SunGard's cash management framework for our business."

After reviewing its treasury management processes and straight-through processing (STP) capabilities Tesco found that it also needed a solution for SWIFTnet messaging and connectivity. Tesco selected SunGard's SWIFT Member Concentrator service to help reduce the internal infrastructure and administration costs related to the implementation and maintenance of a SWFT connection.

Andrew Woods, treasury solutions leader at SunGard, said, "We are pleased that Tesco has chosen SunGard's AvantGard hosted treasury management solution and SWIFTNet connectivity. By managing everything in-house on behalf of Tesco, SunGard provides a fully supported solution with a single point of contact, ultimately helping Tesco reduce costs and address its wider business objectives."

About Tesco

Tesco is one of the world's leading international retailers. Since the company first used the trading name of Tesco, in the mid 1920s, the group has expanded into different formats, markets and retailing sectors. Tesco has a long term strategy for growth, based on four key parts: growth in the core UK business; to expand by growing internationally; to be as strong in non-food as in food; and to follow customers into new retailing services. For more information, visit Tesco at www.tescocorporate.com

About AvantGard

SunGard's AvantGard is a leading liquidity management solution for corporations, financial institutions and the public sector. AvantGard provides chief financial officers and treasurers with real-time visibility into cash flows and increased operational controls around treasury, receivables and payments management. The solution aggregates data for a single view of cash, drives productivity through automation, and fosters collaboration between trading partners. For more information, visit www.sungard.com/avantgard.

About SunGard

With annual revenue of $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at 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.

Tesco Selects SunGards AvantGard for Hosted Treasury Management and SWIFTNet Connectivity

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Tesco Selects SunGards AvantGard for Hosted Treasury Management and SWIFTNet Connectivity

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