Implementing an ERP Solution to achieve a refined granularity in technical decision-making

We improved financial data reporting through an in-depth analysis of the retail business needs.

About the Industry

Developing a brand as a culture has become one of the practicing trends in the retail industry. The engagement of customers in e-commerce has seen rapid growth. Top retail brands are finding innovative ways of making e-commerce shipping faster, reliable, and flexible. One of the initiatives in such direction is by going multi-channel. Transitioning from a legacy business model to an automated retail strategy  has improved retail operations and quarterly sale results.

Flexible consumer preferences and the ever-expanding technological landscape also impact the retail industry. Bringing automation to retail-related services has delivered exceptional results across multiple verticals of the industry. The emergence of AI-enabled solutions will generate tangible benefits in the days to come.

About the Client

Our client is an Indian retail company, with more than 500 stores across 25 major cities. Making the availability of quality products and unmatched services easy for the Indian customer has been our client’s main business drive.

In addition to metro cities, the organization has also targeted tier-2 & tier-3 cities. Apparel, clothing, footwear, and groceries are some of the business verticals of our client. Our client has astutely seized the business landscape, and to make things easier from an operational point of view, got associated with top tech firms as well. The company has successfully developed an intelligent business model that integrates all the major functionalities of the enterprise.

The Business Challenges

In this highly competitive market, proving one’s mettle is not an easy task. To be at the top of the retail world, our client needs to tackle the following roadblocks: –

• The company lacked a robust system that would track all the retail outlets in real-time.
• The back-end operations involved in the retail industry were complex. Dealing with those challenges was getting increasingly difficult for our client.
• Real-time financial tracking and accounting were nonexistent. This slowed down report generation and analysis processes of financial data.
• Trivial reconciliation and closing processes increased the functional complexity of the organization.

Our Solution

• We comprehensively evaluated the business situation and proposed the implementation of a robust Oracle ERP Solution.
• We developed a robust platform based on Oracle’s template and its capabilities in the area of the retail industry.
• Later, the movement of data, application, and services from the legacy system to the new system was carried out.
• Post-launch, we integrated major Oracle modules with the existing set up to upgrade the features and capabilities of the domain-centric solution.

Key Results

• Our solution helped generate business-driven insights, which in turn improved the productivity of the enterprise.
• This structured approach enhanced the quality of the data and simplified the process of report generation.
• The financial closing process improved by 30%. Mitigation of unwanted delays accelerated the overall financial operations.
• Enhanced accounting features assured better compliance with the regulatory framework.