E-Business Solution: Cumberland Farms, Inc. Selects Oracle E-Business Suite To Improve Performance And Enable Growth Across Growing Convenience Store Chain
Cumberland Farms, Inc., a privately held convenience store retailer with more than 900 locations, has selected the Oracle E-Business Suite to help improve financial reporting and establish a platform for growth across its retail, fuel distribution and property management businesses. Cumberland Farms will use Oracle applications to provide management with greater insight to results of operations, internal controls, and synergies across these core business operations.
The Oracle implementation is part of Cumberland Farms' strategy to manage growth as its retail enterprise expands throughout an 11-state region in the northeastern United States and Florida. "The Oracle team had deep expertise in our core business and understood our unique challenges," said William Barnes, Vice President Corporate Controller for Cumberland Farms. "We require speed and agility in the retail environment, and the ability to identify and enhance synergies across our lines of business. Oracle applications will help us establish a core platform that supports our entire enterprise and helps us grow profitably. Our legacy information systems will not get us there alone."
Cumberland Farms decided to upgrade its information systems to help streamline its financial reporting systems, improve internal controls and provide the foundation for future system enhancements. The company selected Oracle after a comprehensive evaluation of competing solutions because the Oracle applications best met the company's requirements for a scalable platform and functionality that would readily support all facets of its business.
Barnes added, "We've selected a phased approach that will give us immediate benefits in financial management while leveraging existing legacy systems and setting the course for long-term growth."
Oracle Financial Management will comprise the first phase of implementation and will help the company immediately streamline and improve financial reporting, while enabling compliance with corporate governance best practices. The company expects to close month-end reports faster and gain more precise and visible internal controls, enabling financial managers to scale the business for growth.
"Cumberland Farms represents a complex business model shared by many companies, combining consumer retail, wholesale and real estate operations," said Gladys Lau, Senior Industry Director for Retail, Oracle. "Oracle applications are uniquely suited to enable Cumberland Farms to quickly achieve its objectives while gaining flexibility for managing and growing its businesses."
About Cumberland Farms
Cumberland Farms is committed to providing its customers with value, convenience and unparalleled service. Its network of retail stores, gas stations, and a support system including petroleum, dairy and grocery distribution operations spans 11 states across the Northeast and Florida, making it the largest convenience store/ petroleum marketer in the Northeast.
About Oracle
Oracle (NASDAQ GS: ORCL) is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at www.oracle.com.