Home / Knowledge / News / Information Technology / Fruit of the Loom upgrades to Oracle E-Business Suite 12.1
Fruit of the Loom upgrades to Oracle E-Business Suite 12.1
01
Nov '12
Fruit of the Loom, one of the largest manufacturers and marketers of underwear, intimate apparel, casual wear, athletic apparel, athletic uniforms, and sporting goods, has upgraded to the Oracle E-Business Suite 12.1. To optimize business processes and integrate multiple acquisitions into its global business, Fruit of the Loom needed a scalable, flexible and comprehensive suite of business applications that could standardize and automate its financial processes.

By upgrading to the Oracle E-Business Suite 12.1, Fruit of the Loom will streamline its financial reporting and increase flexibility by creating a centralized location for business information and will reduce its reliance on manually intensive processes.

New functionality in Oracle Sub Ledger Accounting, part of Oracle E-Business Suite Financials, will enable Fruit of the Loom to centralize and enforce consistent accounting processes, while also supporting compliance with multiple accounting standards such as International Financial Reporting Standards (IFRS) and U.S. GAAP.

Oracle E-Business Suite Financials has also helped Fruit of the Loom use electronic payment and bank reconciliation functionality, enabling it to improve its financial processes, strengthen its controls and further increase efficiencies.

Additionally, Oracle E-Business Tax will help Fruit of the Loom automate its sales and use tax calculations by providing a platform for integration with a tax engine.

Based on the success of the project, Fruit of the Loom plans to take advantage of additional modules within Oracle E-Business Suite Financials, including Oracle Receivables and Oracle Internet Expenses. Additionally, the company plans to implement Oracle Hyperion Financial Management.

"As we continue to grow our company, we need a scalable and integrated platform that can optimize financial processes," said Fred Siegle, vice president of IT and Business Integration, Fruit of the Loom. "With the Oracle E-Business Suite 12.1, we are in the process of standardizing, automating and streamlining processes within the company. As a result, we will gain a more comprehensive view of our financial information, eliminate many inefficient manual processes and ultimately increase bottom-line profit."

Oracle


Must ReadView All

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Alessandro Zucchi; Courtesy: ACIMIT

Textiles | On 29th Jun 2017

Alessandro Zucchi succeeds Carabelli as ACIMIT president

The members’ assembly of the Association of Italian Machinery...

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search