Qantas selects SunGard’s treasury system

Qantas selects SunGard’s treasury system

Qantas has selected SunGard’s Quantum treasury system to assist with front and back-office functions and corporate hedging.

The system will be used for risk management and position entering in the front office and accounting and settlements in the back office.

Qantas will also use it to hedge a foreign exchange risk of approximately $2 billion and an annual fuel bill of over $4 billion.

SunGard said the system is run on a private cloud-hosted environment, with support provided through an online portal, “providing secure audit trails and a single point of contact”.

SunGard senior vice president of treasury solutions Paul Bramwell said SunGard was pleased to be working with an iconic Australian business like Qantas, which it sees as a “great testament to the quality of its system”.

“Many companies are moving towards this kind of outsourced model as they see opportunity to maximise efficiency while reducing risk,” said Mr Bramwell.

Qantas Airways manager of treasury systems Anthony Impala said Quantum is an essential tool for its treasury department.

“The solution consolidates our data sources and information into a single, customisable desktop, offering us a real-time view of our global risk and cash positions,” said Mr Impala.

“It also helps us maintain proper controls around our processes.”

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