Digital Finance Transformation at M&S
Driving value from collaborative decision-making across 40+ use cases with a flexible, intuitive planning and analytics platform
Looking to drive business agility and retain its market-leading position, British retailer Marks & Spencer embarked on a transformational project to replace disparate, legacy financial systems and processes with the Board decision-making platform. The team began the finance transformation by automating several reporting and planning processes managed by the central FP&A team, using the Board platform to increase the efficiency of working capital reporting and planning, cost initiatives tracking, and monthly risks and opportunities.
The customizable nature of Board, and its ability to maintain high levels of performance with large datasets, created the ideal environment on which to rapidly implement the new applications to drive continuous improvements in the commercial teams, such as supporting trade reporting and planning in the Food business unit. Additionally, as Board is managed through a flexible, self-service interface, it is simple for the Finance team to build and maintain new applications without the need to involve IT specialists, empowering them to implement and manage their own applications which deliver valuable strategic insights to the business.
- Industry: Fashion & Luxury, Grocery
- Department: Finance
- Revenue: £10.2 billion
- Stores: 1,519
- Countries: 57