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Veit Zhejiang Selects Epicor ERP in China to Support Business Growth

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Veit Zhejiang Selects Epicor ERP in China to Support Business Growth

Leading ironing equipment manufacturer to implement a modern ERP solution to improve production efficiency and competency

Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth, today announced that Veit Group, a leading global garment equipment manufacturer, has chosen the global enterprise resource planning (ERP) solution Epicor ERP for its wholly-owned Chinese subsidiary, Veit Zhejiang Co. Ltd.

The implementation is part of the company’s plans to improve production efficiency and increase competency amid fierce market competition both in China and globally, to support profitable business growth.

Headquartered in Germany, the Veit Group is the worldwide leading manufacturer of ironing equipment, fusing machines, underpressing, and final pressing machines, as well as refinishing equipment for garments. Its Chinese subsidiary was founded in 2011 and is dedicated to the production and assembly of all kinds of ironing tables, irons, small steam generators, shirt folding tables, and some pressing as well as fusing machines, under the Veit brand.

Veit Zhejiang recently started looking for a global ERP solution with multi-language and industry-specific capabilities in order to support its mid-size, foreign-funded, operations in China. The solution had to provide access to the same information for German and Chinese staff in order to support the company’s plans to improve management efficiency. Veit Zhejiang plans to improve material request and procurement, purchase order production and delivery, inventory management and turnover, office process standardization and mobility, decision accuracy and feasibility, as well as competitiveness and profitability.

With excellent flexibility and scalability, Epicor ERP has been selected by more than 1,700 industrial machinery and equipment manufacturers in the midmarket sector to help improve and optimize business operations and customer service, and ultimately, achieve business growth.

“We are proud to be partnering with Veit Zhejiang to support its business growth,” said Vincent Tang, regional vice president for Asia at Epicor Software. “Industrial machinery is one of our key global focus sectors. We understand customers’ demands for higher quality, lower costs, and faster delivery, as well as the complex challenges faced by global enterprises such as economic and market fluctuations. Our easy-to-use solutions combine flexible technology with deep industry insight and rich functionality to reduce complexity and help customers such as Veit Zhejiang prepare for upcoming enterprise and industry requirements and achieve profitable business growth.”

“As a world leading manufacturer of garment equipment, Veit believes in the power of technology to enhance operational efficiency, increase competitiveness, and stimulate profitable business growth,” said Klaus Pflugbeil, general manager for Veit Zhejiang Co. Ltd. “We found that Epicor has good industry insight as well as relevant customer successes in industrial machinery and equipment manufacturing. The solution’s flexibility, ease-of-use, and multi-language features match the needs of small and medium-sized manufacturers like us who are looking for efficiency improvements. We are confident that the implementation of Epicor ERP will support our planned growth.”

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Sunak to use budget to expand apprenticeships in England

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Sunak to use budget to expand apprenticeships in England 1

LONDON (Reuters) – British finance minister Rishi Sunak will announce more funding for apprenticeships in England when he unveils his budget next week, the government said on Friday.

Employers taking part in the Apprenticeship Initiative Scheme will from April 1 receive 3,000 pounds ($4,179) for each apprentice hired, regardless of age – an increase on current grants of between 1,500 and 2,000 pounds depending on age.

The scheme will extended by six months until the end of September, the finance ministry said.

Sunak will also announce an extra 126 million pounds for traineeships for up to 43,000 placements.

Sunak’s March 3 budget will likely include a new round of spending to prop up the economy during what he hopes will be the last phase of lockdown, but he will also probably signal tax rises ahead to plug the huge hole in the public finances.

Sunak is also expected to announce a “flexi-job” apprenticeship scheme, whereby apprentices can join an agency and work for multiple employers in one sector, the finance ministry said.

“We know there’s more to do and it’s vital this continues throughout the next stage of our recovery, which is why I’m boosting support for these programmes, helping jobseekers and employers alike,” Sunak said in a statement.

(Reporting by Andy Bruce, editing by David Milliken)

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UK seeks G7 consensus on digital competition after Facebook blackout

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UK seeks G7 consensus on digital competition after Facebook blackout 2

LONDON (Reuters) – Britain is seeking to build a consensus among G7 nations on how to stop large technology companies exploiting their dominance, warning that there can be no repeat of Facebook’s one-week media blackout in Australia.

Facebook’s row with the Australian government over payment for local news, although now resolved, has increased international focus on the power wielded by tech corporations.

“We will hold these companies to account and bridge the gap between what they say they do and what happens in practice,” Britain’s digital minister Oliver Dowden said on Friday.

“We will prevent these firms from exploiting their dominance to the detriment of people and the businesses that rely on them.”

Dowden said recent events had strengthened his view that digital markets did not currently function properly.

He spoke after a meeting with Facebook’s Vice-President for Global Affairs, Nick Clegg, a former British deputy prime minister.

“I put these concerns to Facebook and set out our interest in levelling the playing field to enable proper commercial relationships to be formed. We must avoid such nuclear options being taken again,” Dowden said in a statement.

Facebook said in a statement that the call had been constructive, and that it had already struck commercial deals with most major publishers in Britain.

“Nick strongly agreed with the Secretary of State’s (Dowden’s) assertion that the government’s general preference is for companies to enter freely into proper commercial relationships with each other,” a Facebook spokesman said.

Britain will host a meeting of G7 leaders in June.

It is seeking to build consensus there for coordinated action toward “promoting competitive, innovative digital markets while protecting the free speech and journalism that underpin our democracy and precious liberties,” Dowden said.

The G7 comprises the United States, Japan, Britain, Germany, France, Italy and Canada, but Australia has also been invited.

Britain is working on a new competition regime aimed at giving consumers more control over their data, and introducing legislation that could regulate social media platforms to prevent the spread of illegal or extremist content and bullying.

(Reporting by William James; Editing by Gareth Jones and John Stonestreet)

 

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Britain to offer fast-track visas to bolster fintechs after Brexit

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Britain to offer fast-track visas to bolster fintechs after Brexit 3

By Huw Jones

LONDON (Reuters) – Britain said on Friday it would offer a fast-track visa scheme for jobs at high-growth companies after a government-backed review warned that financial technology firms will struggle with Brexit and tougher competition for global talent.

Finance minister Rishi Sunak said that now Britain has left the European Union, it wants to make sure its immigration system helps businesses attract the best hires.

“This new fast-track scale-up stream will make it easier for fintech firms to recruit innovators and job creators, who will help them grow,” Sunak said in a statement.

Over 40% of fintech staff in Britain come from overseas, and the new visa scheme, open to migrants with job offers at high-growth firms that are scaling up, will start in March 2022.

Brexit cut fintechs’ access to the EU single market and made it far harder to employ staff from the bloc, leaving Britain less attractive for the industry.

The review published on Friday and headed by Ron Kalifa, former CEO of payments fintech Worldpay, set out a “strategy and delivery model” that also includes a new 1 billion pound ($1.39 billion) start-up fund.

“It’s about underpinning financial services and our place in the world, and bringing innovation into mainstream banking,” Kalifa told Reuters.

Britain has a 10% share of the global fintech market, generating 11 billion pounds ($15.6 billion) in revenue.

The review said Brexit, heavy investment in fintech by Australia, Canada and Singapore, and the need to be nimbler as COVID-19 accelerates digitalisation of finance, all mean the sector’s future in Britain is not assured.

It also recommends more flexible listing rules for fintechs to catch up with New York.

“We recognise the need to make the UK attractive a more attractive location for IPOs,” said Britain’s financial services minister John Glen, adding that a separate review on listings rules would be published shortly.

“Those findings, along with Ron’s report today, should provide an excellent evidence base for further reform.”

SCALING UP

Britain pioneered “sandboxes” to allow fintechs to test products on real consumers under supervision, and the review says regulators should move to the next stage and set up “scale-boxes” to help fintechs navigate red tape to grow.

“It’s a question of knowing who to call when there’s a problem,” said Kay Swinburne, vice chair of financial services at consultants KPMG and a contributor to the review.

A UK fintech wanting to serve EU clients would have to open a hub in the bloc, an expensive undertaking for a start-up.

“Leaving the EU and access to the single market going away is a big deal, so the UK has to do something significant to make fintechs stay here,” Swinburne said.

The review seeks to join the dots on fintech policy across government departments and regulators, and marshal private sector efforts under a new Centre for Finance, Innovation and Technology (CFIT).

“There is no framework but bits of individual policies, and nowhere does it come together,” said Rachel Kent, a lawyer at Hogan Lovells and contributor to the review.

($1 = 0.7064 pounds)

(Reporting by Huw Jones; editing by Jane Merriman and John Stonestreet)

 

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