CLIENT: A $1 billion plus regional grocery retailer and food distributor.
After experiencing several finance reorganizations, the retailer asked PwC Retail Consulting Services to conduct a retail finance benchmark to assess its current cost infrastructure. Seeing opportunity from the results, the retailer retained our team to conduct a detailed review of the finance transaction processes to reduce cost and develop a new organization structure to reflect its business environment.
We conducted a series of workshops to identify improvement opportunities for accounts payable, accounts receivable, sales audit, store and warehouse inventory, vendor revenue and payroll. These were then segregated between quick-win and longer-term opportunities (three to twelve months to achieve). We drove the implementation of quick wins to achieve immediate cost reductions. To identify areas to improve functionality, a review was conducted of the ERP system as well as supporting legacy systems. We also designed and implemented simple, web-based tools to improve productivity.
To ensure that all redesigned processes and enhanced systems were thoroughly documented and Sarbanes-Oxley compliant, our team worked closely with the client’s internal audit department.