The Company's strategy of combining rock-solid traditional retail disciplines with cutting-edge use of video, social media and analytics drives their sales performance. However, as the Company rapidly grew, its reporting processes could not keep pace. As a result, the organization experienced two major issues that consequently slowed its growth.
The Opportunity
Problem 1: Manual Paper-Based Reporting Two full-time employees were compiling reports using archaic processes and manual entry technology. This method was so time-consuming that reports were not available in real-time, it took three to four days to get the information to management. The company's data was often tracked on whiteboards in offices or on paper rather than in a central, digital, easily updated space. Sales leaders also spent hours each week preparing reports for meetings, and the company could not reliably generate ad-hoc reports.Problem 2: Tricky Cash Flow Calculations The complexity of the company's cash flow calculations required excessive effort and cost a substantial amount of money. The company would sell items, collect the money, and then send a portion to the carrier, which would then charge them back for the product, rebates for promotions, and bills. The parent company would then send a commission back to the retailer. The retailer believed this discrepancy came from their employees' accounting errors and rule violations.
The Solution + Results
Solution 1: After learning about the business process of this retailer, Nexus designed and deployed EZ Analytics to access data across the company's databases to create reports in real-time. The Solution replaced the work of a full-time staff position and increased operational efficiency by providing real-time results. It also gave executives and managers time back by automating and centralizing reporting processes. No more whiteboards or paper copies to update!
Solution 2: Nexus implemented EZ Analytics to integrate two separate data sets into an enterprise repository that could resolve a real-time view of the company's cash flow situation. This Solution saved the company more than $80,000 in the first three months by eliminating human error and enabling the CFO to manage the case account better. The system continues to help the retailer better manage its teams and catch costly accounting mistakes.
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