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Follow UsLG Electronics India Pvt Ltd (LGEIL) has selected the Oracle E-Business Suite to drive its ERP and marketing activities. LGEIL will use Oracle applications in the key business areas of financials, purchasing manufacturing, sales and inventory management. The project, which is expected to be complete by July 2005, is expected to help LG India integrate seamlessly with its parent company and other LG businesses worldwide. LG runs on Oracle E-Business Suite globally.
According to LGEIL IT systems head of department Arindam Bose, LG would invest $ five million for this and expects an output of $ 3.5 million per year after implementing the ERP. He added that the implementation of Oracle applications would lead to faster, more effective and productive business process so that LGEIL could be more competitive than before.
Speaking on the occasion, Oracle Asia Pacific applications senior VP Mark Gibbs said that approximately 40 percent of Oracle's customers in APAC are in the mid market. With the Peoplesoft and JD Edwards acquisition, the company is looking forward to further strengthening its position in this segment.
Elaborating on the FY 06 growth strategy for Oracle, Gibbs said that the strategy encompasses industries focus, information age applications, mid market and Project Fusion. Elaborating on Project Fusion, he said that it consists of Fusion Infrastructure Software and Fusion Applications Suite. These are designed around common Fusion Architecture and the components would be available in 2006 product releases. The company would also revitalize the JD Edwards solution soon.
According to Oracle India MD Krishan Dhawan, in India the company is targeting the mid market segment in sectors like, banking, telecom and government for its HRM and CRM products. He added that the company has is having an excellent FY 05 in India where it closed 50 deals for application sales in the first nine months ending February 28, 2005 as compared to 40 deals in the last financial year.