Easa Saleh Al Gurg Group, a diversified family group based in the United Arab Emirates (UAE), has gone live with SunGard’s AvantGard to help it improve its treasury and cash management operations. Using AvantGard Treasury, Al Gurg Group has centralised its treasury and cash management activity at the group level, has created an in-house bank, and is working to establish a payments factory and centralisation of trade finance processes.
AvantGard Treasury has replaced manual processes within Al Gurg Group’s treasury operations. One of the key reasons the group selected AvantGard was to help it develop an in-house bank. Easa Saleh Al Gurg Group owns 23 group companies that have each been maintaining their own bank accounts and relationships. Centralising this function at the group level helps the company obtain greater visibility and control over treasury and cash management, in addition to helping reduce operational costs and optimise processes.
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