FESA CONSOL

FlexSystem

Budgetary Management for Retailing

Issues

Traditional accounting systems provide limited assistance for budgetary management in modern retailing businesses which are not just limited to managing the performance for individual products, but also in managing performance at different operational levels and which may involve the oversight of regional or global product managers.

A great deal of dimensional information needs to be analyzed over time on, for example, an individual basis or group basis, at a shop or multi shop level and these details are often inaccessible from traditional systems on a practical basis.

As a result it is not deemed cost effective for the preparation of budget reports from a control and decision making perspective as it demands extensive work to manipulate large volumes of actual and budget data often in the form of spreadsheets.

  

Expectations

Systems integration between POS systems and accounting systems is necessary to improve the process of budgetary management and to allow budget owners to manage the budgeting process more efficiently by allowing them transparency into past data trends so that they can utilize most of their time for data analysis rather than manipulation of data.

  

Solutions

FESA Professional Accounting has an integrated query and rules proccessors to integrate different kind of external systems to its ledger system. It allows budget owners to retrieve relevant information quickly and directly giving rich analysis for control and decision making.

  

Benefits

Budget owners of different business units and departments can work with the finance department more efficiently and effectively on strategic rather than procedural tasks.