One of South Africa`s largest retailers will implement a sophisticated Web-based financial analysis, reporting and budgeting system for improved strategic planning, linking budgets to strategy, and improved ease and integrity of management reporting and analysis.
Dimension Data`s Management Planning and Control (MPC) solution, supplied by US-based Comshare, integrates planning, budgeting, consolidation, and management reporting into a single application. It will give Woolworths Ltd a national reporting system enabling users to access accurate information via the Internet from any desktop in the country.
"To effectively execute corporate strategy, managers need accurate, timely business knowledge that they can access anywhere, any time, from any Web browser," says Daniel Ruthenberg of Dimension Data iCommerce. "Comshare provides this knowledge through unified, Web-based application modules for planning, budgeting, financial consolidation, and management reporting and analysis."
Eddie Douglas, Woolworth`s system manager, says the company currently uses Lotus spreadsheets for financial analysis and reporting, and a cumbersome, homegrown budgeting system, written in Informix.
"The major problem with our current reporting is that it is centred around one person in the organisation," he says. "We need increased accessibility of information for decision-makers. "
Comshare MPC will enable Woolworths to perform strategic planning, and simulate complex `what if` scenarios. Integrated management planning and control will facilitate strategic initiatives.
"We will be able to look at what an initiative would cost to implement, and then see what value of sales it might generate. For example, we can see how our bottom line might be impacted should we launch a unit trust product. We can also use the system to tie our financial results back to key performance areas."
The new solution, to be rolled out from April, will make information available from a central repository, with clear definitions of data elements and business rules.
"Quick, informed and intelligent decisions can be made, based on more accurate data," says Douglas. "In addition, reporting toolsets will be easy to deploy, regardless of location, and flexible enough to allow for different levels of user.
"Another benefit will be the empowerment of end users, who will be able to obtain relevant information easily."
Douglas also expects forecasts and planning to be achieved more quickly and effectively.
"Comshare MPC also puts control back into the hands of users, by reducing the need for IT support," says Ruthenberg.
Share