How we helped Total Tools automated their FP&A

Total Tools moved their manual processes to automate their FP&A with Workday Adaptive

Company:

Australia’s largest independent professional tools retailer. Total Tools have been passionately servicing Australia for more than 30 years and is a proudly Australian owned and operated franchise network. They continue to grow and expand their unique offering Nation Wide.

Industry:

Retail Franchise

Company Size:

700 Employees

Key Software Used:

WORKDAY ADAPTIVE PLANNING

The Challenge:

In a critical time of change, through acquisitions and growth, Total Tools was challenged by the sheer amount of manual processes that needed to be achieved every month. This increased the risk of error and there was really no way to be proactive and have the visibility they required.

Having utilised predominately Excel and Cognos to this point, Financial controller Aari Vasiliadis, was frustrated by the manual data entry into excel required to generate accurate planning and reports. It was continuously inaccurate and were heavily reliant on an external BI team for reporting. End of month was extremely long due to the compilation of multiple spreadsheets and consolidation was lengthy, causing clear issues as the total tools brand expanded through their franchises.

Forpoint were able to help guide and advise Aari to ensure the solution was going to be a strong fit to solve the challenges and enhance the capabilities of the finance team for the future.

The Solution:

Even from the product demonstrations, Aari knew the Workday Adaptive planning solution was able to solve many of the problem that he was experiencing. Through the implementation process, Forpoint understood it was important to the team to really be able to hone in on clearly defined sections of the project rather that the whole at once. It allowed focus and discussion to really fine tune each area to ensure the end result captured the complexities they required. The following was achieved through via our implementation team.

Now, Total tools have the ability to:

Access a system that would meet all our business requirements for reporting, budgeting, and forecasting.
Integrate a solution that could be controlled and managed by the finance team.
Initiate a quick and accurate month end close.
Streamline management reporting to be able to distribute management reports in a timely manner to make positive change in the business.
Have more engagement with the finance team with other parts of the business by providing more support.

The Results

Total Tools has reported thousands saved through the implementation of workday adaptive and now, the team has more time to focus on making positive changes instead of always looking back.

Significant time savings have also been reported and dramatic improvement in working cohesively with other departments. Consolidation on all entities takes a fraction of the time now has minimal errors, and is audit and compliance-ready at any time.