Transforming Financial Planning through Creative Destruction
Learn how Mu Sigma helped one of the world’s largest specialty retailers enable financial planning automation and transform their complex financial planning process, reduce cycle time by 65%, and manual effort by 80% annually.
The client wanted to transform its financial planning process from the existing quarter-long arduous process to a month-long nimble process that was efficient and would allow them to adapt to evolving business complexities.
The Mu Sigma Approach:
Armed with its unique Art-of-Problem-Solving approach, Mu Sigma worked toward institutionalizing a new problem-solving mindset and automate their yearly financial planning. This involved design thinking workshops with finance leaders from multiple functions such as merchandizing, supply chain, and store planning. These workshops enabled first principles thinking, challenged the status quo, and maximized collaboration between business functions.
Apart from significantly reducing cycle time, we also enabled several high-impact outcomes including:
• Enabled a process of complete transparency and feedback-driven decision-making
• Provided agility to adapt to evolving business dynamics
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