Bossini, a leading Hong Kong-based store, is moving out a new financial administration solution to drive its long-term growth.
Executives in Hk, mainland China, Taiwan and Singapore were all applying different sorts of accounting application, all outdated. Financial info also had been entered personally in Stand out format, with inaccurate info delaying key decisions.
This kind of status quo was no longer working for Bossini, a leading Hong Kong-based apparel dealer, brand owner and franchiser, and so the organization embarked on an ambitious enterprise-wide plan to repair it.
Bossini introduced its initial retail store in 1987, and through the past twenty years, has grown from a local dealer into a main player in apparel retail, with more than one particular, 000 retailers in about 20 countries.
The business's, premiere brand is its " bossini" label of casual have on, known for the colorful mix-and-match styles for guys, women and kids. In the arriving year, Bossini plans to embark on a brand-building system with revamped logos, and to open 75 retail outlets, many in landmass China.
Just before its devices investment, the firm's capital budgeting and allocation, asset management, economic forecasting, spending budget and investment assessments were all dealt with separately by simply its operations in every single country wherever it do business.
Bossini was in dire need of an integrated way to bring economical transparency to its entire enterprise, says Andrew Ling, the retailer's director details technology.
" Manual info feed and consolidation requires tremendous labor, " says Ling. " The lack of financial transparency encumbered sound and speedy management decision-making processes. "
Aside from their four primary base market segments in Asia, Bossini even offers extensive foreign distribution systems in the Middle East and Latin America. Given plans for rapid enlargement into international markets, the organization wanted to combine its economical systems and processes onto a single, steady platform.
After having a year of evaluating many different systems, Bossini's management group chose Oracle's e-Business monetary suite (EBS) to manage its financial source chain in the five regional centers, located in Hong Kong, mainland China, Taiwan, Singapore and Malaysia.
" The recent market debt consolidation among first-tier vendors limited our options, " says Ling. " Besides, each of our corporate THAT standard likes Oracle DBMS as the database engine. "
Better data = quicker decisions
The Oracle implementation, that can support about 100 users, will provide an individual, accurate view of all of Bossini's financial information to get better presence into the provider's operations, the business reports.
The first stage of the setup began this March, as well as the target date intended for completion of the 49-week rollout is Feb 2007. " We have been through the levels of analysis and design, and system the use testing, " says Ling. " Our company is now in the stage of user-acceptance tests and data conversion. "
If the user-acceptance test the desired info is good, Bossini will turns out the solution to its Hong Kong regional centre this month, to countries to follow during the next three months.
Better data allows Bossini to cope with regional statutory requirements, corporate governance and internal taxation control needs, and ensure appropriate reporting of financials, says Ling. The machine also is likely to help the organization make more timely decisions in response to changing market demands and in turn enable it to contend more of course profitably in the global market, the organization notes.
This way, the benefits of the program will be shown at the shop level -- a key goal for Bossini. For instance, a manager in Taiwan should be able to see economical data in a aggregate level at any time. With the old systems, users was required to painstakingly pull-up information simply by each individual area and often identified flawed info.
With data by position or area available much...