We’re very proud to be recognized in the “100 Great Supply Chain Projects” – along with our customer, a major global retailer – for innovative implementation of our financial software. We were honored as part of the 11th annual Supply & Demand Chain Executive 100 awards, which recognize providers that are leading the way in transforming companies’ supply and demand chains.
Our global customer was faced with the challenges of multiple languages, operating systems, processes and technology across its operations. By implementing our accounting system, the furniture and accessory retailer benefited from “multi-everything” capabilities that accommodate multiple languages, currencies, taxes, regulations, and other requirements. The innovative technology, along with best practices, enabled the company to streamline and standardize accounting processes across all countries, stores and finance departments.
The retailer gained real-time visibility and better reporting through the finance system’s single ledger Chart of Accounts. Now the company can compare the same type of information in all countries across the organization, and every store has on-demand access to actual, up-to-date performance data. Also, the accounting software can easily integrate and share data with other systems in the company, including: merchandizing, inter-company invoicing, B2B sales, freight invoicing, travel expenses and payroll.
The global retailer has one real-time view of the data across the organization. Now it can make more informed, strategic business decisions with one version of the truth.
What are some of the best practices the retailer implemented along with the robust accounting solution? Stay tuned for part 2 of this blog – same time, same channel.
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