Yeaaaaaaaaaah
 
Home » News Stories » Spar Buys Coda Financials

News Stories

Job Search

Events

Back to News »

Spar Buys Coda Financials


Share this:
digg it  | kickit | Email it | del.icio.us | reddit | liveIt
Subscribe to IrishDev News RSS Add to Google
CategoryProduct
DateThursday, June 03, 2010
AuthorS K

Spar Buys Coda Financials

CODA Self Service Portal Helps Managers @BWG Foods  2 Navigate Rapidly Changing Retail Landscape

 

 

 

the SPAR and MACE retail franchises in IreIreland's SPAR and MACE franchises have been  upgraded to CODA Financials from UNIT4 4 Walkinstown, Dublin 12-based BWG Foods, which owns and operates the SPAR and MACE retail franchises in Ireland, has upgraded to CODA Financials from UNIT4, after a rigorous three month search for a single accounting system  to replace two ageing systems which struggled to cope after it merged its grocery and property divisions.

 

 

BWG Foods' Spar and Mace shops have an annual retail turnover in excess of €2 billion and the company also operates a nation-wide network of 22 wholesale Cash and Carrys that trade under the Value Centre and BWG Foodservice names.

 

 

In 2006 BWG Foods merged the accounting departments of its wholesale grocery business with its property division. Until then its respective finance departments had run separate financial systems.

 

 

After the merger, both systems struggled to equip senior management with the reports and visibility they required to operate the business efficiently. Creating reports became a difficult and frustrating process, as two systems had to be interrogated and making changes to either existing accounting application was not an option.

 

 

Apart from the obvious issues that arose from running two systems in one business, the most significant concern was the system's inability to monitor and adapt to change, as emphasised by Finance Director Aidan Keane:

 

"Retail is arguably the most dynamic vertical sector. Our managers need to access information and reports on a timely basis and in a way that is tailored to their needs, "  said Keane

 

"It was a lengthy and difficult process to extract reports. By the time information was available to senior executives the data would often be out of date and therefore a very poor barometer on which to make decisions."

 

These inefficiencies clearly didn't fit with the ambitions of the company, which has been operating since 1963, so it began a search for a new, unified finance system.The BWG Finance team embarked upon a rigorous three month  search for a single replacement system.

 

Initial fact-finding identified four possible suppliers who met the team and discussed the issues and possible solutions. Two suppliers were short-listed and after further rigorous consideration CODA Financials from UNIT4 was chosen.

 

 

ROUNDUP330.pngKeane explains that BWG wanted a Finance System to manage change: "Our key criteria were to select a solution that could firstly consolidate the disparate financial data and secondly had the capability to provide rapid access to strategic financial information held within that data. The CODA system demonstrated both and it was clear that it would equip our managers with the financial tools they need to thrive in this ever-changing retail landscape."

 

The implementation of CODA Financials and CODA XL started last July and went live in November. The project immediately realised considerable benefits by unifying the Company's processes.

 

Keane explains: "Aside from the obvious economies of scale, the CODA system has streamlined our business processes, significantly reduced administration costs, improved productivity and enabled us to report to the regulator with minimum fuss."

 

 

The amount of time and effort put into consolidating year end accounts has been reduced considerably; the entire process now takes  just two to three weeks.

 

"This is a real achievement. We have 78 companies operating in the property division alone, so although the books are far from simple, the CODA system, has taken away the complexity and frustration of balancing them", said Keane.

 

He went on, "The biggest benefit has been equipping senior management with the information they need to manage finances according to market change. Times recently have been tough in Ireland, but managers can now access the financial information they need to navigate through these turbulent times."

 

High level finance information is captured from the system, organised by department and displayed via a desktop portal. The portal has an intuitive interface which  allows managers to drill down into metrics at the click of a button, as and when required. This includes the option to view individual scanned documents such as invoices, essentially removing paper and its inherent inefficiencies from the system.

 

Self-service has empowered senior executives. They now have the information and functionality needed to adapt the business to changing needs at their fingertips, whether through cutting costs, analysing sales, re-apportioning finances or examining granular level transactions.

 

This self-service approach is a marked improvement upon the previous system; managers no longer have to rely on constant and time-consuming liaison with the finance team which in turn has reduced the strain on the finance department. Across the business there is now less administration, yet crucially far more flexibility to manage and even to anticipate change.

 

Keane summarised  the implementation as a huge success."It is more than an IT application; it is a business enabler that is invaluable in helping us to stay one step ahead of the competition."

 

 

UNIT4 is a global business software company that creates, delivers and supports adaptable business software and services globally to help organizations manage their business needs effectively.It has a broad portfolio of solutions that address different markets, requirements, technologies and types of organization.

 

UNIT4 is a top six mid-market ERP software player globally and the 2nd largest European ERP supplier. With offices in 19 countries it is headquartered in the Netherlands.

 

The Group's software brands include Agresso Business World, an ERP solution for services intensive organisations, and CODA Financials, a best-of-class financial management software suite. Both are widely used in shared services centres for public and commercial organisations worldwide.

 

 

Schedule Announced for the Irish Software Show, June 8th-11th Click Here

 

People reading this article also read....

 

 
 

More CODA News on IrishDev.com

 

More FinancialForce.com News on IrishDev.com

.

More Unit4Agresso News on IrishDev.com


More Virtualisation News on IrishDev.com

 

More Business Continuity News on IrishDev.com

 

 

Get Instant Updates....

Join IrishDev.com on Facebook and Twitter

 

 

 


Got a Story – Share it with the Irish Software Community – Email us at

Back to News »
digg it  | kickit | Email it | del.icio.us | reddit | liveIt | RSS
E-mail