Home / Knowledge / News / Information Technology / Hanesbrands adopts AccountMate Software
Hanesbrands adopts AccountMate Software
04
May '11
Utilizing AccountMate Software's business financial solution, Hanesbrands, Inc. is 100% compliant with local international government regulations.

Based in Winston-Salem, North Carolina, Hanesbrands, Inc. is a global consumer goods company with more than 100 years of high-quality, brand-name products. Originally inspired by a men's hosiery entrepreneur in 1901, the Hanesbrands company has built an impressive repertoire of leading household brands and innovative products. Hanesbrands can be found in eight out of ten American households and is most famous for its t-shirts, underwear and socks. This Hanesbrands empire is now a Fortune 500 Company and publicly traded on the New York Stock Exchange.

Hanesbrands has a rich history of corporate transformation, including business acquisitions, product diversifications, consolidated market strategies and corporate restructuring. In the 1990's, the company was acquired by the Sara Lee Corporation. While under the Sara Lee umbrella, Hanesbrands adopted AccountMate Software, the financial management system Sara Lee had previously selected.

After spinning off from Sara Lee Corporation in 2006, Hanesbrands' continual growth plus complexity in their accounting processing in foreign textile operations provided several business challenges that significantly impacted their internal operations.

With Hanesbrands expanding offshore manufacturing and sewing facilities into Central American countries such as Puerto Rico, Costa Rica, Dominican Republic and Honduras, local government regulations mandated unique accounting compliance. Some countries have 10 - 15 plants that require compliance. Another problem involved language challenges.

According to Doug Meredith, Elite AccountMate Business Partner and President of PC Accounting, "Each location needed the software to have a Spanish language interface for its users. With unique Spanish dialect variances ranging country to country in Central America, the Spanish interface needed customization by country."

To solve these complex global business challenges, Hanesbrands leveraged their original investment by customizing their AccountMate system.

The first step in the company's technology make-over involved customizing accounting processing that complied with local government regulations. To handle this challenge, PC Accounting modified AccountMate logic within each country to ensure local government compliance. For example, purchase orders required multiple signature lines based upon the dollar amount purchased. Some countries required pre-numbered invoices with repeating numbers on subsequent pages. While each country required separate record maintenance, business reporting and other local compliances, Hanesbrands corporate headquarters requires consolidated reports. As a result, the necessary accounting paperwork required for local, regional and national compliance was automatically generated. This change has enabled Hanesbrands to effectively manage operations in local countries with minimum effort.


Must ReadView All

US commerce department finds dumping of low melt PSF

Textiles | On 20th Jun 2018

US commerce department finds dumping of low melt PSF

The US department of commerce (USDC) has announced affirmative final...

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Interviews View All

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search