Modex Therapeutics first in mid market for new Oracle SME ERP

Swiss-based mid-market biotech manufacturing company Modex Therapeutics is the first customer to go live on giant Oracle’s just launched new version of its e-Business Suite for the European mid-market. Dubbed ‘Special Edition’, it’s been re-engineered for “affordability and speed of implementation”, with pre-installed, pre-configured ERP applications aimed at companies with 100—500 employees and £10—150 million turnover: companies that Oracle says are technologically astute but typically lack large in-house IT departments. Modex, known for its ‘skin from hair’ EpiDex product, had gone through rapid expansion, including 136% increase in staffing, and outgrown its accounting and inventory management software. Its new software was implemented for Modex by Oracle partner Astron Associates, based in Geneva. “Oracle … gives us the functionality to meet our evolving operational needs,” says David Jones, Modex’s chief financial officer. “The real-time visibility of our revenue figures, expenses and data analysis enables us to make adjustments to our accounting structure without having to purchase additional applications.” Modex says it’s been able to reduce the time it takes to report financial earnings from two weeks to two days. It also now regularly monitors inventory levels and costs by accessing a detailed logistical breakdown of operations. Seems Oracle has accepted the near market saturation argument at the top end, and is now going for more growth in the mid market currently dominated by rivals like JD Edwards, IFS, Baan and latterly SAP. “We are now in the second wave of e-business, as smaller companies find they need to conduct business electronically with the early adopter large enterprises,” says Sergio Giacoletto, European executive vice president at Oracle. “E-business is maturing and proliferating, and today 40% of our European applications customers are in the mid-market. “Now, with Oracle E-Business Suite Special Edition, it’s even easier and faster for smaller organisations to become part of the e-business eco-system using exactly the same software as their larger counterparts. Size should not be a barrier to success.” Available only through Oracle’s European partners and VARs, the new package comprises ‘ready to use’ financial accounting, sales order management, inventory management and purchasing modules.