The impact of COVID-19 highlighted the need for our client, a multinational chain of coffeehouses, to be more agile in their financial planning and analysis processes. The organisation wanted to improve and consolidate commercial analytics with driver-based and integrated forecasting, supporting the thousands of licensees to make informed decisions with the enhanced commercial insights and reporting from across the business.
Gate One used a sprint-based, iterative approach across three phases of this finance improvement project.
- Discovery phase: Conducted interviews with key finance stakeholders and the wider business. Reviewed the existing processes and documentation to develop an agreed set of pain points and hypotheses to create the backlog of design activity.
- Reporting phase: Designed key data and visualisation requirements to drive improved operational decision making. The new suite of reports was refreshed in a weekly/monthly reporting rhythm. We also produced up to date information on profit and loss and sales metrics across multiple forecasting scenarios to quickly embed into business as usual. The reports were used by multiple stakeholders including the EMEA chief financial officer to better understand short and long-term business performance recovery.
- Financial planning phase: Engaged licensee businesses across EMEA to improve the end-to-end planning and forecasting processes. By understanding all of their individual planning timelines and reporting requirements, we were able to design and implement a new and consistent approach for collecting and integrating planning and reporting data.
- Created reports with improved analytics and visualisations to support the business with real-time commercial insights.
- Developed new and improved templates, governance frameworks and processes to drive a more granular planning and reporting process.
- Fostered collaborative working to break down siloes across the business to establish a more integrated business planning approach through new ways of working.
- Implemented efficiencies to run a more efficient quarterly forecast process, establishing the foundations for improved capability and processes associated with the more complex annual planning process.