Minerva & Jedox: Automated reporting cut errors, boosted agility across Greencross

Greencross, Australasia’s leading specialist retailer of pet-related products, operates over 250 retail stores and runs Australia’s largest veterinary services business with 148 clinics and 29 Specialty and Emergency animal hospitals. Their journey with Jedox began in 2014 to assist their Australian Finance Team in managing their Profit & Loss statement.

Since its initial implementation, the scope of Jedox’s application has expanded to include financial reconciliation, financial reporting, sales consolidation, as well as Supply chain, & Merchandise planning and reporting.

With support from Minerva and Jedox, Greencross has the reporting tools that help them to adapt quickly to changing customer requirements.

Greencross faced challenges in their financial reporting, planning and budgeting process. These difficulties arose from managing disparate financial systems across the retail and vet businesses, using a limited ERP system, and relying heavily on multiple spreadsheets. Their financial reporting process was primarily Excel-based, involving time-consuming manual processes, prone to human error. The finance team managed over 30 workbooks, each containing multiple tables and external links. Visibility of key performance metrics was limited, and their drill-down functionality was restricted.

The lack of a consolidated financial system made it challenging to align category-level merchandise budgets with finance budgets. Collaboration amongst finance, marketing and operations was difficult and time-consuming. Greencross wanted a holistic view of their data for accurate forecasts and planning.

Greencross chose to implement Jedox, a leading enterprise performance management solution that streamlines budgeting, planning, and forecasting. Taking a strategic approach, they began with the Office of Finance’s reports before expanding Jedox to their Merchandise Planning team.

The project involved a thorough review of manual processes and ERP operations. In close collaboration with the IT team, Jedox was successfully integrated across both finance and merchandise planning functions. The roadmap now aims to extend Jedox’s capabilities to other areas of the business, including veterinary services, sales, and HR, enabling comprehensive bottom-up planning across the organization.

The implementation of Jedox has transformed how Greencross’ Merchandise team approaches planning. The system now automates the planning process and also allows them to conduct driver-based planning. The team can create and forecast multiple scenarios and initiatives thanks to Jedox’s scenario-based planning.

This automation has helped Greencross prepare for and mitigate risks, while simplifying the process for stakeholders. Jedox’s integrated platform means all those involved in the planning process can quickly and easily share their input in one centralized location.

By streamlining the process, Greencross can feed reforecasts directly into the company’s P&L without manual mapping required by the finance team. Business units, such as finance and retail stores, have successfully aligned their budgeting processes. The Merchandise Department now enjoys more accurate and granular planning and reporting, with increased speed and transparency.

Alternate hierarchies and reporting

Previously, Greencross’ rigid ERP product hierarchies limited their ability to analyze overall company performance. With Jedox, they can now manage and analyze performance across all delivery channels, providing targeted, actionable insights.

Jedox has automated P&L reporting, reducing both human error and effort. Detailed P&Ls are now distributed monthly to all store managers, enhancing their ownership and management of results.

This implementation has led to greater transparency, collaboration, and accountability. Channel-specific budgeting is now possible, allowing separate budgets for stores, click-and-collect, and home delivery channels. This increased visibility has drastically improved accountability.

A commitment to continuous improvement

Greencross’ success with Jedox and Minerva stems from their dedication to continuous improvement and staying ahead of the curve. The consolidation of their financial reporting into a centralized platform has facilitated improved information sharing and collaboration. This integration has reduced human error and enhanced the reliability and efficiency of their financial reporting.

With Minerva’s assistance, Greencross has transformed their financial planning and reporting processes, achieving greater accuracy while gaining the agility to adapt to changing environments and business demands. Moving forward, Greencross will continue to work with Minerva on integrated business planning and standardization to drive further improvements.