SOURCE: AccountMate Software Corporation

AccountMate Software Corporation

May 03, 2011 06:00 ET

Fortune 500 Company Leverages AccountMate Software to Comply With International Government Regulations

PETALUMA, CA--(Marketwire - May 3, 2011) - Utilizing AccountMate Software's business financial solution, Hanesbrands, Inc. is 100% compliant with local international government regulations.

Based in Winston-Salem, North Carolina, Hanesbrands, Inc. is a global consumer goods company with more than 100 years of high-quality, brand-name products. Originally inspired by a men's hosiery entrepreneur in 1901, the Hanesbrands company has built an impressive repertoire of leading household brands and innovative products. Hanesbrands can be found in eight out of ten American households and is most famous for its t-shirts, underwear and socks. This Hanesbrands empire is now a Fortune 500 Company and publicly traded on the New York Stock Exchange.

Hanesbrands has a rich history of corporate transformation, including business acquisitions, product diversifications, consolidated market strategies and corporate restructuring. In the 1990's, the company was acquired by the Sara Lee Corporation. While under the Sara Lee umbrella, Hanesbrands adopted AccountMate Software, the financial management system Sara Lee had previously selected.

After spinning off from Sara Lee Corporation in 2006, Hanesbrands' continual growth plus complexity in their accounting processing in foreign textile operations provided several business challenges that significantly impacted their internal operations.

With Hanesbrands expanding offshore manufacturing and sewing facilities into Central American countries such as Puerto Rico, Costa Rica, Dominican Republic and Honduras, local government regulations mandated unique accounting compliance. Some countries have 10 - 15 plants that require compliance. Another problem involved language challenges.

According to Doug Meredith, Elite AccountMate Business Partner and President of PC Accounting, "Each location needed the software to have a Spanish language interface for its users. With unique Spanish dialect variances ranging country to country in Central America, the Spanish interface needed customization by country."

To solve these complex global business challenges, Hanesbrands leveraged their original investment by customizing their AccountMate system.

The first step in the company's technology make-over involved customizing accounting processing that complied with local government regulations. To handle this challenge, PC Accounting modified AccountMate logic within each country to ensure local government compliance. For example, purchase orders required multiple signature lines based upon the dollar amount purchased. Some countries required pre-numbered invoices with repeating numbers on subsequent pages. While each country required separate record maintenance, business reporting and other local compliances, Hanesbrands corporate headquarters requires consolidated reports. As a result, the necessary accounting paperwork required for local, regional and national compliance was automatically generated. This change has enabled Hanesbrands to effectively manage operations in local countries with minimum effort.

Another company hurdle involved handling multi-lingual challenges. Screens were required in Spanish and formatted with each countries unique Spanish dialect, supporting cultural, linguistic and geographical differences within Central America. To solve this business complexity, PC Accounting used AccountMate's translation table function. Customizing Spanish dialects within each country enables company employees to understand the AccountMate ERP system, dramatically reducing errors and increasing order accuracies and general operations overall.

Hanesbrands also needed the ability to export the financial data to their other corporate software system and PC Accounting developed data exports of the transactions to the corporate office.

After working with PC Accounting to implement these customized solutions, Hanesbrands offshore accounting and operations are compliant with local government regulations. Whether Hanesbrands continues to provide innovative solutions or grow their business in new markets world-wide, AccountMate business solutions provide the scalability and flexibility to keep pace with any business hurdle they may run into around the world.

About AccountMate
Founded in 1984, AccountMate develops and markets fully modifiable business accounting software. Systems range from single user versions to those that support hundreds of users simultaneously. AccountMate software is available for local installation or as SaaS. It is distributed exclusively through a worldwide channel of authorized solution providers. AccountMate can be reached at (800) 877-8896 or at www.accountmate.com.

Contact Information

  • PRESS CONTACT:
    Donna DeRosa
    Vice President, Marketing
    (800) 877-8896