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Landmark Retail is without doubt one of the largest omnichannel retailers throughout the Center East and Northern Africa (MENA), India and Southeast Asia (SEA). It’s a division of Landmark Group, a well known multinational retail and hospitality conglomerate headquartered in Dubai. The group’s journey began as a single retailer in Bahrain 5 a long time in the past. Right now, Landmark Group has advanced right into a powerhouse of 2200 shops throughout 21 nations. It gives a various array of services and products throughout 25 homegrown manufacturers and a number of franchises that cater to a large number of tastes and preferences throughout vogue, residence, electronics and extra. The group’s values (iLEAD: Pay attention, Empower, Adapt and Ship with Integrity) information their function of making distinctive worth for his or her workers, their prospects and their communities.
In 2013, Landmark Retail’s monetary planning and evaluation crew confronted challenges as they managed monetary processes throughout greater than 1200 shops. In line with Gopal Chandak, FP&A Chief at Landmark, “The consolidation of the monetary price range, value allocation strategies and standardization of widespread data posed as main obstacles. Gathering recordsdata from a number of events led to discrepancies because of various variations of software program and completely different ranges of person experience.”
Challenges within the complicated budgeting strategy of a serious conglomerate
The crew was current in a number of nations and areas, and so they and operated with a number of manufacturers. Their enterprise mannequin was very complicated, and it required huge information volumes to be processed. Due to this, the budgeting course of was inefficient. It took 3–4 months and wanted stakeholder alignment throughout completely different nations, manufacturers and features.
Moreover, the method of consolidating Excel recordsdata from completely different variations was troublesome and sometimes resulted in discrepancies in numbers. “Managing the information for our shops utilizing guide spreadsheets and consolidating it at each the enterprise unit and nation degree proved to be an overwhelmingly difficult endeavor,” in keeping with Chandak. “Recognizing the constraints, we acknowledged the necessity for an enhanced resolution. Though Excel is a strong device, it was merely insufficient for the dimensions and complexity of our group.”
A complete resolution to maximise effectivity
In Landmark Retail’s seek for a succesful, user-friendly resolution, they turned to IBM® Planning Analytics. Not like different aggressive options that took 6–12 months, IBM Planning Analytics was in a position to carry out a profitable proof of idea inside 8–10 weeks. This swift implementation showcased agility and adaptability, making it the popular alternative for Landmark Retail.
In line with Chandak, “IBM Planning Analytics considerably simplified duties by providing complete governance all through the complete budgeting course of and unlocked substantial worth for the group. With this device, Landmark Retail was in a position to improve its enterprise analytics and achieve insightful views which might be usually ignored when utilizing conventional spreadsheet-based budgeting strategies. The device effortlessly facilitated budgeting on a zero-based method, saving vital effort and time because it possessed all the required historic information.”
To make sure worker buy-in throughout the transition to IBM Planning Analytics, the corporate utilized efficient change administration initiatives and maintained clear strains of communication.
Landmark Retail’s budgeting course of turned notably streamlined and environment friendly, and so they accomplished the primary module (“Budgeting”) inside a few months. In line with Chandak, “The budgeting and consolidation processes underwent a outstanding transformation, leading to a 75% discount in time spent by workers. They improved governance and transparency throughout completely different manufacturers and nations, enabling a sharper concentrate on strategic enterprise evaluation to drive development and innovation.”
The brand new resolution delivered vital automation based mostly on clicks from the person interface and simplified monetary processes. Since implementing IBM Planning Analytics in 2013, Landmark Retail has efficiently scaled new use circumstances starting from core budgeting, warehouse budgeting, consolidation of authorized entities and monetary statements, and CAPEX throughout their greater than 1200 shops.
Trusted companions are the important thing to profitable implementation
Veracitiz Solutions, an IBM enterprise companion, has been integral to Landmark Retail’s success. With a solution-driven crew of dynamic and expert technical specialists, Veracitiz has been invaluable within the implementation and optimization of IBM Planning Analytics. Veracitiz Options labored to know Landmark Retail’s distinctive necessities and delivered personalized options that have been instrumental to the undertaking’s success. Notably, the crew’s around-the-clock availability led to vital buyer satisfaction.
After reaching a lot success with IBM Planning Analytics, Landmark Retail plans to implement it for gross sales forecasting to contemplate exterior elements similar to seasonality, climate forecasts and historic patterns.
Landmark Retail’s partnership with Veracitiz Options, coupled with the pliability of IBM Planning Analytics, has not solely streamlined their monetary processes however has additionally enabled them to proactively handle the dynamic wants of their enterprise. This synergy between expertise and experience is pivotal as Landmark Retail continues to offer worth to stakeholders and strengthen its standing as a number one retail big within the area.
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