Wehmeyer selects Oracle Retail application

Wehmeyer, the German fashion house, has selected Oracle Retail Price Optimization to help increase profitability through effective inventory management.

Wehmeyer informed that it will use the Oracle Retail application to introduce an advanced approach to managing in-season inventory, assortment and pricing strategies across its 40 stores in Germany.

The company hopes that the Oracle Retail Price Optimization will help provide Wehmeyer with greater visibility into customer demand, the impact of price points on inventory levels, gross margin performance and optimal in-season inventory management decisions.

Author: Pallavi B @ www.dmeurope.com

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I-flex solutions to change name to Oracle Financial Services

I-flex solutions, a provider of IT solutions to the financial services industry, has announced that its board of directors has approved a proposal to change the company's name to Oracle Financial Services, subject to regulatory and shareholder approvals.

The proposed new name reflects the company's close strategic and operational alignment with its parent, Oracle, which owns 81% of the company.

The new branding strategy demonstrates the synergies of scale, resources, expertise and efficiency across the two organizations. The current management team under NRK Raman will continue to run the operations of the company.

NRK Raman, CEO and managing director of i-flex solutions, said: "The new identity will enable us to better leverage the global reach, infrastructure and brand visibility of Oracle to accelerate our growth."

Source: datamonitor.com

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Oracle looks to India for financial services business

Oracle plans to make its Indian subsidiary a hub for its strategy for the financial services market. I-flex solutions, the Indian banking software subsidiary of Oracle, said Friday that in line with these plans, it will change its name to Oracle Financial Services.

The new branding reflects the importance that Oracle attaches to the financial services sector, a notice to the Bombay Stock Exchange quoted Charles Phillips, Oracle’s president, and a director of i-flex, as saying on Friday. Oracle Financial Services will be a focal point for Oracle's investment in innovation and leadership in financial services, Oracle said.

I-flex also announced Friday its plans to acquire the entire stake in Flexcel International, a joint venture it had set up with HDFC Bank in Mumbai to offer its banking software in an application service provider (ASP) model to small banks.

Based in Mumbai, i-flex is a vendor of banking and financial services software and services. It has 790 customers in over 130 countries. Central American Bank for Economic Integration (CABEI),a financial institution in Central America, for example, has recently deployed i-flex’s Flexcube banking software.

Oracle currently owns 81 percent of the equity of i-flex. The change of name is subject to regulatory and shareholder approvals, i-flex said.

The local managers who set up i-flex will however continue to manage the company, a spokesman for i-flex said on Friday.

Oracle acquired from Citigroup's venture capital unit about 40 percent of the equity in i-flex in 2005, and raised its stake in the subsidiary in stages. The acquisition of a stake in i-flex was part of Oracle's move to expand beyond general purpose ERP (enterprise resource planning) applications and into more industry specific software, Oracle said at the time.

Oracle also has product development and services centers in India.

Author: John Ribeiro @ www.infoworld.com

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