An international fashion brand faced the challenge of managing its finance information across disparate, disconnected systems.
Working with Akita, the brand was able to deploy Microsoft Dynamics 365 Business Central as a centralised finance platform, with custom integrations providing synchronisation with its wider retail management software applications.
Requirements
The fashion brand faced the challenge of managing its finance operations across dispersed software platforms, including Xero, QuickBooks, Sage 200 and Coupa. As such, its primary operational requirement was to streamline its finance operations within a unified platform.
As the brand transacts internationally, its new solution would need to be able to process multiple currencies and reconcile these for financial reporting.
To ensure data flow with wider operations, the solution would also need to integrate with its wider retail management and data platforms such as Tibco and Brightpearl.
Finally, due to the nature of the fashion industry, the company had intricate reporting demands. The new solution would therefore also need to be able to draw data from all platforms to fulfil reporting requirements.
Solution
Together with Akita, the brand determined that Microsoft Dynamics 365 Business Central could function as a single finance platform to meet its requirements.
While the finance deployment was straightforward, the process of integrating Business Central with wider retail software presented more of a challenge. This required the development of custom API solutions to link the applications.
As a result, a phased implementation approach was taken to ensure the project stayed on deadline:
Phase One
The initial phase of Business Central implementation focused on the finance functionality. To achieve this, the following modules were deployed and integrated into Business Central:
General Ledger: This module enabled centralised financial data management and reporting, consolidating financial information in one location.
Fixed Assets: This module was implemented to streamline asset tracking and depreciation calculations.
Cash Book: This facilitated efficient cash flow management and reconciliation.
Procurement: Integrating with Tibco and Coupa, the Procurement module allowed the brand to manage purchasing operations far more smoothly.
Sales: Running alongside Tibco and Brightpearl, this module further enhanced the handling of sales operations from within Business Central.
Phase Two
The second phase of the implementation involved consolidating finance functionality with wider operations and reporting:
Inventory Control: This module provided inventory management capabilities to optimise stock control and movement - vital for a fashion brand.
Continia: Implementing this Business Central add-on introduced a range of additional efficiencies for financial processes.
Dimensions: To meet these requirements effectively, the implementation of Dimensions played a crucial role. This allowed the company to manage and analyse complex data sets involving departments, functions, product categories, channels, production units, and seasons.
Outcome & Benefits
The successful Business Central implementation and custom API solutions have resulted in significant improvements in finance and asset management for the fashion brand.
With the utilisation of the various finance management modules in Business Central, the brand has successfully centralised its finance operations within a single platform, eliminating the need for disparate systems.
Business Central also now effectively manages transactions in multiple currencies, simplifying foreign currency handling and aiding improved reporting for the brand. And the integration of Yavrio has also enabled the brand to link directly to its bank accounts from Business Central, streamlining financial transactions.
The custom API solutions facilitated seamless communication between Business Central, Tibco, Brightpearl, and Continia, providing the company with comprehensive reporting capabilities across all platforms.
The advancements in functionality are also paralleled by gains in reporting. Leveraging Dimensions and interconnecting various business aspects (department, function, product category, channel, production unit, and season) has resulted in exceptional reporting functionality, further enhanced by the use of Microsoft Power BI.
Overall, the adoption of the Business Central solution has radically reduced the complexity of finance management and enhanced overall efficiency.
With a powerful finance system behind it, the brand is now ready to further scale and expand upon its existing international success.
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