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NEWTON, Mass. -- In an effort to enhance its corporate growth strategy, Gulf Oil selected Oracle Financials operating system, an extension of Oracle E-Business Suite and Oracle Project Costing.
The deal comes on the heels of Gulf's call to reposition itself in the marketplace, which includes the addition of new Gulf Express convenience store locations, as well as a new initiative to partner with distributors to provide wholesale marketing, finance and operational development.
With more than 2,400 Gulf branded retail centers, the company will use Oracle Financials to help streamline and improve financial reporting while also providing a platform for growth across its diverse businesses.
According to a released statement, Gulf expects to close month-end reports faster and gain more precise insight to results and synergies across its core businesses. Additional benefits will include integration of cost management for all projects and activities across the enterprise and provide line managers with timely, detailed information to monitor project performance.
"Oracle Applications will help Gulf Oil manage synergies across their business. We look forward to working with them and appreciate the opportunity to help them implement systems that will help streamline financial reporting as well as provide a clear view of results and opportunities across the business," Matt Renner, group vice president for Oracle, said in a released statement.