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Business Objects Announces Planning and Budgeting Solutions for Retail

    Online News published in DMReview.com
November 10, 2005

In the fiercely competitive and dynamic retail industry, successful retailers must be able to accurately forecast financial performance and improve collaboration across the company. To address the unique challenges of retailers, Business Objects announced new budgeting and planning solutions for the retail industry.

With Business Objects Planning for Retail, retailers can model and optimize performance, create accountability to corporate goals, and promote intra-departmental collaboration. Building on existing analytic solutions for the retail industry, Business Objects now offers customers a comprehensive set of capabilities that enable retailers in any functional role -- including finance, merchandising, supply chain, and store operations -- to improve operational and financial performance.

"Business Objects understands the specific challenges retailers face, which is why our retail strategy has been so successful -- right now 160 of the top global retailers rely on Business Objects to improve performance," said Tom Malone, group vice president of the planning business unit at Business Objects. "Today we're adding planning and budgeting solutions that allow retailers to model 'what if' scenarios to help them exceed their financial goals. In combination with our existing retail analytics, Business Objects now provides a complete solution that enables better management and performance across the retail organization -- from the CEO to finance executives down to store managers."

Business Objects Planning for Retail consists of four new applications for more precise budgeting, forecasting, plan reporting and payroll planning. This solution enables retailers to conduct comparable store forecasting, sales calendarization, operational expense management, and multi-channel sales management. Unlike other performance management solutions available, Business Objects Planning for Retail allows individual business units to develop and refine financial models based on their unique drivers and processes.

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