We helped Specsavers gain visibility across their 17,000 stores worldwide

Specsavers urgently needed a new budgeting solution.

Specsavers_logo

Company:

Specsavers is the largest optical retailer in Australia and New Zealand. It launched in Australia in 2007 and now has more than 350 stores providing affordable optical healthcare across the region.

Industry:

Retail

Company Size:

21,000 + Employees

Region:

UK, Europe, Australia/NZ

Existing ERP:

Spreadsheets

Key Software Used:

workday adaptive planning WORKDAY ADAPTIVE PLANNING

The Challenge:

Specsavers, a British multinational optical retail chain, offers optician services and eyewear in stores throughout the British Isles, Australasia, and the Nordic countries. As the business became more complex, the team’s spreadsheet-based processes began to show their cracks. Specsavers urgently needed a new budgeting solution.

The challenges they were facing were:

  • Limited visibility into critical cost drivers, including headcount and travel
  • Lengthy budgeting process, requiring consolidation of 60 cost centres
  • Error-prone spreadsheets which detracted from finance’s more strategic responsibilities

 

The Solution:

With the help of technology partner Forpoint Solutions, Specsavers turned to Workday Adaptive Planning and was able to implement the solution in two months. Forpoint worked closely with Specsavers to prioritize and build out essential budgeting capabilities and helped build the required models to calculate costs related to headcount and travel—all in time for the annual budget.

spec savers
“One of the best things about Workday Adaptive Planning is how fast and easy it is to get up and running and start seeing results.”
Head of Planning, Reporting, and Analysis, Specsavers

The Results

Deploying the Business Planning Cloud has dramatically reduced the time and effort Specsavers spends creating and consolidating budgets across 60 cost centres. More importantly, Specsavers now has visibility into and understanding of different cost drivers in order to control spending and manage growth. And soon they’ll be able to forecast more frequently as well as improve self-service reporting.

What they were able to achieve:

  • Streamlined budgeting and consolidation, which enables budget changes to be made and reflected on the P&L statement within seconds rather than days
  • Better understanding of cost drivers and what-if-scenario modeling
  • Finance focused on strategy and growth rather than manipulating spreadsheets

Forpoint continues to help Specsavers be at the forefront of their financial processes.

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Forpoint

Want to know more about how Forpoint can help your finance team modernise?

Understand if Forpoint are the right fit for your finance transformation needs.

Book a call & speak to our experienced team today.

Discover

Forpoint

Want to know more about how Forpoint can help your finance team modernise?

Understand if Forpoint are the right fit for your finance transformation needs.

Book a call & speak to our experienced team today.

Products                              Solutions

Sage Intacct                                                  Financial Management Systems

Planful                                                               Forecasting, Planning & Analysis

BlackLine                                                         Financial Close Process

Infor Sunsystems Cloud                         Accounts Receivable Automation

Workday Adaptive                                      Accounts Payable Automation

Zudello                                                             Expense Management

Webexpenses                                               HR & Payroll

Datablend

ELMO

 

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