Infor, a leading provider of beautiful business applications specialized by industry and built for the cloud, today announced that Koch Industries, an American multinational corporation estimated by Forbes to be the second largest privately-held company in the United States with annual revenue of approximately $100 billion, will implement Infor CloudSuite for financial and human capital management.
"Technology should never be the limiting factor to the growth of an organization, and an innovative, scalable solution is key to becoming a better and faster organization, especially when it comes to managing people and money," said Steve Feilmeier, chief financial officer, Koch Industries. "Koch invested in Infor not only because of its high growth trajectory, but because of the transformative effect Infor applications can have in supporting expansion and growth at Koch Industries."
Koch Industries, which earlier this year purchased an interest of more than $2 billion in Infor, will deploy Infor CloudSuite to meet financial management, procurement, and human capital management needs with enterprise-wide visibility and the flexibility to support Koch's consistent growth. CloudSuite provides support and insight to the C-Suite from all angles, and includes functionality needed by the executive team and their organizations including CFOs, CIOs, CPOs and CHROs. The flexibility of Infor's ION architecture will enable Koch to integrate and deploy additional Infor applications in the future for increased visibility, control, and deeper insights in other areas of the business.
"The selection of Infor CloudSuite to manage core HR and finance processes for Koch Industries, one of the world's largest and most respected companies, is a testament to the solutions' robust functionality, flexibility, maturity, and scale," said Stephan Scholl, president of Infor. "By moving these core functions to the cloud, Koch will have the agility to support new and existing business, and will be well positioned to remain one of the world's most successful and admired companies for the foreseeable future."
About Koch Industries, Inc.
Based in Wichita, Kansas, Koch Industries, Inc. is one of the largest private companies in America with estimated annual revenues as high as $100 billion, according to Forbes. It owns a diverse group of companies involved in refining, chemicals, and biofuels; forest and consumer products; fertilizers; polymers and fibers; process and pollution control equipment and technologies; electronics; information systems; commodity trading; minerals; energy; glass; ranching; and investments. Since 2003, Koch companies have invested more than $80 billion in acquisitions and other capital expenditures. With a presence in about 60 countries, Koch companies employ more than 120,000 people worldwide, with about 70,000 of those in the United States. From January 2009 to present, Koch companies have earned more than 1,200 awards for safety, environmental excellence, community stewardship, innovation, and customer service. For more news and stories, visit www.KOCHind.com.
Infor builds business software for specific industries in the cloud. With 16,000 employees and over 90,000 customers in more than 170 countries, Infor software is designed for progress. To learn more about Infor, please visit www.infor.com.
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