Chapter 3

An integrated finance system transforms the role of Executives

Cloud-based, modern finance platforms ingest data from multiple platforms, enabling retailers to view and track all their data in a comprehensive system. This means financial reporting is both faster an more accurate. And because executives have a single version of the truth, they’re able to identify unprofitable areas of the business and correct them.

As such, cloud finance solutions are fundamentally transforming roles across retail departments. Instead of spending hours compiling and processing data from separate systems, retail teams can provide executives with comprehensive reports with a few clicks, ultimately spending their time on more important tasks.

Meanwhile, retail executives can quickly zoom in on the data for real-time insights, like sales figures, in-stock items, store visits, and profitability. When disruption hits, retailers have the tools and data to make key decisions and ensure their operations quickly adapt.

Eric van Staveren, CFO, United Retail:

“Five years ago, my work was more transactional and financially focused. Today, I am more focused on supporting the business and steering the number of daily KPIs coming out of the reports generated by our cloud finance solution.”