Extensity, the financial performance management company, has signed a contract with apparel maker VF Corporation for Extensity MPC performance management software.
VF, an existing Extensity customer, will move from a distributed to centralized database environment for financial consolidation and will employ MPC's reporting capabilities as well.
VF, one of the world's largest apparel companies, selected Extensity MPC in order to leverage technology advances in the latest release and gain greater visibility and process control through central storage and maintenance of data. MPC's ability to seamlessly interface with VF's ledger systems, including SAP, and enhance data security will make it easier for VF to be Sarbanes-Oxley compliant.
Bob Shearer, Senior Vice President and Chief Financial Officer of VF Corp, said, "We looked at other solutions but ultimately chose MPC to help us get data from our different business lines much faster than before."
Renee Martin, Manager of corporate accounting for VF, said, "MPC is a powerful web-based system that will allow us to centrally maintain all administrative duties while strengthening internal controls, which is more SOX-compliant."
MPC's financial consolidation functionality will assist VF in adhering to both local and global accounting standards and reporting requirements; speed the process of gathering information by automating data loading, consolidation and verification; and consolidate data from various business perspectives and multiple structures and versions.
marketing@alchempro.com
