FTC to implement People Soft's ERP 8.9

Al-Fares Trading Co (FTC) has announced plans to implement People Soft Enterprise One 8.9. The Saudi-based IMT implementing the tier-one ERP solution promises to streamline FTC's trading business and reduce inventory costs up to US$1.5 million.

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By  Maddy Reddy Published  June 17, 2004

Al-Fares Trading Co (FTC) has announced plans to implement People Soft ERP version 8.9. The tier-one ERP solution to FTC's enterprise trading business will be implemented by the Saudi-based Information Management Technology’s (IMT) 13-member consulting team. “We chose People Soft software because it is a proven ERP package and well know in the global marketplace with ability to provide continuous development and support. We trust Al-Suwaidi name to provide through IMT the required implementation consultancy services which was one important factor to base our decision on,” says Wael Sadeq, finance manager, FTC. This is IMT’s first People Soft implementation project outside their parent Al-Suwaidi Group. Once the project is fully operational later this year, IMT promises that FTC will reduce their inventory levels by more than 20%, resulting in over all savings of up to US$1.5 million. The company will have full control of their stock levels and balancing of their Cardex on-line, in addition to the full link and integration between their business processes from sales to cash and procurement to payables. “We would like to congratulate the Al-Faris Trading Company on this strategic move. It is only with the full commitment of everyone in the organisation hierarchy, that a tier-1 ERP application implementation [like this] can be successful. We will put all our resources together in order to conclude a successful implementation,” says Khalid Al-Suwaidi, IMT managing director. Founded by the Al-Fares brothers in 1969, FTC supplies raw materials to contractors, traders and manufacturers of tools and building materials. The company imports and stocks materials from almost all parts of the globe and supplies them to customers through branches across Saudi Arabia. “FTC wants to follow the best business practices and avoid costly customisations. People Soft’s Enterprise One provides the best solution to our pains and addresses our complicated sales process in an intelligent way, which allows our sales people to be more efficient and ultimately satisfies customers,” adds N Somarajan, materials & systems manager FTC.

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