US-based Navistar International Corporation, a leading producer of commercial trucks, school buses and mid-range diesel engines, has selected SunGard Treasury Systems’ AvantGard-ICMS for all aspects of cash management, debt and investment functionality. This includes support for interest rate and cross-currency swaps, general ledger interfacing and FAS 133 derivatives reporting. AvantGard will support one treasury centre in the US and two in Mexico. Mary Ellen Kummer, manager of cash operations at Navistar Financial Corporation, the company’s finance subsidiary, said: ‘We selected AvantGard in order to centralize our treasury operation onto a single application and database. In addition to providing global cash visibility, this will help us to streamline processes and achieve greater operational efficiency. Specific solution features that we like include its security and control, auditability for Sarbanes Oxley and FAS 133 derivatives accounting capabilities.’
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