In its second-largest acquisition, Amazon buys the company for $970 million.
Skechers U.S.A. adds cloud-based services from Oracle Corp.
Skechers U.S.A. Inc., an award-winning global leader in the lifestyle footwear industry, has upgraded and expanded its Oracle Applications investment, implemented Oracle Database and moved to Oracle On Demand, Oracle’s premier cloud service to support rapid growth across its retail and wholesale channels.
The new business information systems are part of a larger initiative for the billion-dollar-plus footwear company to fuel growth, reduce total cost of ownership and enable the business to respond faster to market opportunities.
“As we manage growth, we are establishing a business structure that lowers costs and creates more value and flexibility across the business,” said Mark Bravo, Senior Vice President of Finance, Skechers. “The Oracle systems and cloud services help us to lighten our IT overhead and enable us to respond more quickly to market opportunities.”
“By moving all of our applications to a standard technology platform, we achieve several goals. We are now able to focus on our core business of delivering solutions to improve processes and provide accurate information and let the technology experts manage the technology issues,” said Mainak Sarkar, Director, Financial Systems, Skechers. “Oracle provides us the best cutting edge technology and also helps us to maintain our crucial applications 24x7, so I can sleep everyday without worrying. In addition, our consulting partner OSI Consulting played a big part in making these projects a huge success.”
With more than 3,000 styles of shoes to design, develop and market, Skechers upgraded to Oracle’s PeopleSoft Enterprise Financial Management and PeopleSoft Supply Chain Management to increase operational efficiencies and improve controls by establishing an integrated, industry-specific platform.
An Oracle customer since 1997, Skechers implemented PeopleSoft Enterprise Real Estate Management to meet the rapid growth of its retail stores worldwide. The company is the first customer to go live on the Real Estate Management module and worked closely with Oracle to provide development insight.
Skechers also implemented Oracle Fusion Governance, Risk, and Compliance applications. This deployment enabled the company to leverage its existing corporate governance and compliance efforts throughout the global enterprise and more effectively manage the audit processes across multiple business units, processes and systems while reducing audit costs.
Next, Skechers leveraged Oracle Financial Analytics, a pre-built Oracle Business Intelligence Application and PeopleSoft Enterprise Project Costing and PeopleSoft Enterprise Contracts to develop a custom Royalty Management dashboard, providing managers with better financial visibility to the company’s licensing contracts.
The company switched to Oracle Database and moved database hosting and management to Oracle On Demand to reduce maintenance, implementation and system administration costs. As a result, Skechers is also achieving a better response time and is delivering a higher level of 24x7 support.
OSI Consulting, a Platinum partner in Oracle PartnerNetwork(OPN), provided implementation and integration services to Skechers.
“Oracle’s Fusion Governance, Risk, and Compliance suite will allow us to leverage our governance and compliance efforts and apply a standard set of business policies and controls across the global enterprise,” said Ashwat Panchal, Director, Internal Audit, Skechers. “In addition, the GRC solution is one part of Skechers’ overall strategy to utilize Oracle’s suite of applications to more efficiently and effectively manage our operations and continued growth.”