Rich Products Paying Down Technical Debt With New Partnership
Rich Products is taking steps to reduce its technical debt, and a new partnership will play a key role in facilitating success for the consumer goods company.
The family-owned food company and retail food supplier intends to simplify and standardize its data, business processes, and customer experience capabilities using SAP S/4 HANA; in order to support a smooth transition, Rich has partnered with digital services and consulting firm Infosys.
As part of this, Infosys will be responsible for building and deploying Rich Products’ global template for finance, supply chain, manufacturing, and procurement functions across its global markets.
About 30% of CIOs reported that resolving issues related to technical debt may account for more than 20% of their budgets for new products, while tech debt may amount to up to 40% of the value of their technology estate, according to a McKinsey & Company survey. What’s more, the study found that technical debt can amount to 20-40% of the value of an organization’s entire technology estate.
"We are looking at this S/4 HANA-based transformation to reimagine the way Rich's operates its business and creates distinctive customer value,” said Yexi Liu, Rich's Global CIO, in a statement. “We are excited about our long-term collaboration with Infosys that will aim to accelerate our business transformation, reduce technical debt, and help shape industry standard business processes to drive operational excellence."
Rich Products, which is headquartered in Buffalo, NY, and has been operating since 1945, manufactures and sells products in more than 100 countries across six continents. The company has 12,500 employees, 27 manufacturing facilities in the United States and Canada, and 17 other plants around the world.
