To stay competitive, retail finance leaders must quickly revise budgets to meet changing product assortment demands across brands and channels. With Oracle Modern Best Practice, you can leverage mobile, social, and analytics for accurate budgeting and timely reporting. Optimize resource allocation to improve your responsiveness to market conditions. Unleash the flow of critical data across store operations, planning, merchandising, and ecommerce teams for baseline assumption visibility. Improve budget decision-making and accuracy with built-in time series regression techniques that enable you to analyze trends in historical data. Create organizational budgets with targets such as sales, gross, margin, and LY comps and align with merchandising, brand, and channel strategy. Drive consensus by securely collaborating with key stakeholders and align approval requests with regional needs. Take advantage of the cloud for an easy platform to securely analyze and compare actual results against planned budgets.
Design organizational budget with targets that align with merchandising, brand, and channel strategies. Key targets include sales, gross margin, LY comps, and working capital.
Assign budget targets across any department, merchandising group, brand, or channel. Use data patterns or allocation rules to measure any format or currency.
Create bottom-up plans, set drivers and assumptions, and analyze variance against targets. Manage tasks using a centralized dashboard. Ensure visibility across store operations and corporate teams.
Validate the accuracy of the plan(s) by analyzing trends in historical data using built-in time series regression techniques. Adjust assumptions, if needed.
Securely collaborate on unit budgets and key plan assumptions across every level of your organization, including store operations and ecommerce teams. Use what-if analysis as needed to ensure alignment with strategic goals.
Automatically route approval requests based on preset rules and alignment with regional needs. Get notifications on the unit budget status. Review and roll up submitted budgets to next level.
Approve the final organizational budget and communicate it to all stakeholders.