US petrol and foodstore retailer Racetrac Petroleum has selected SunGard’s AvantGard-ICMS to support domestic cash management, in-house banking, debt and investment and reporting needs for 525 retail stores throughout the south-eastern US. Racetrac, with annual revenue in excess of $3.2bn, selected AvantGard-ICMS to meet its current requirements and to accommodate continued company growth. Racetrac has already completed the first and second phases of implementation, which included cash management, G/L interface bank polling and parsing of accounts and reconciliation of individual store data at the summary level for such items as bank deposits, automated change orders and money orders. Phase three will include debt and investment portfolio and forecasting.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.