Delta Galil: Consolidation, Lease accounting, CAPEX plan, Corporate Forecast, with CCH Tagetik

Delta Galil: Consolidation, Lease accounting, CAPEX plan, Corporate Forecast, with CCH Tagetik

In short

Established in 1975 in Israel, Delta Galil Industries is a global manufacturer and marketer of Private Label apparel products for men, women and children as well as owner of leading fashion brands such as 7 For All Mankind, Schiesser, PJ Salvage, Eminence, Delta and more…

By offering a wide range of made-to-order products, from intimates, activewear and socks to kidswear & babywear, Delta Galil has contributed to the success of some of the world’s most popular retailers, including Nike, Victoria’s Secret, Calvin Klein, Walmart. Delta Galil products are also sold under leading brand names, including CK Kids, Columbia, Wilson, Maidenform, Tommy Hilfiger and others.

A listed company, Delta Galil runs strategically located design, development and manufacturing centers around the world.

Challenges

  • Outdated legacy systems – critical financial reporting ran on the AS/400 platform
  • Fragmented processes and lack of automation – many manual workarounds, data fragmentation, different offline systems to manage
  • Actual and Planning processes not aligned – no unified language and format, causing suboptimal use of data in decision making
  • Lack of transparency – lack of centralized approval and control in key areas such as Capital investments

Solution's differentiators

  • Journey to the cloud – move directly from mainframe to public cloud available for all
  • Unified platform – unified solution, houses all information in one centralized database with one single source of truth
  • Clear and holistic roadmap – in addition to the standard CPM offering such as consolidation and planning, CCH Tagetik could offer specialized module for the new lease accounting standards, both IFRS and USGAAP, and the possibility to publish the reporting (Word, XBRL, iXBRL)

Achievements

  • Consolidated reporting – produced for Delta Galil group and all its sub-groups
  • CAPEX planning and control – for the first time all the group is following the same centralized process up to the granular operational level
  • Corporate Forecast process – automated and aligned with the statutory reporting process
  • Lease accounting – all the global group is reporting and producing results from 1 single model that supports various accounting standards and approaches for different levels of organization

 

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