What do Deloitte and Carter’s have in common when it comes to finance? On the face of it, not very much. Deloitte, LLP is a multinational firm that provides audit, consulting, financial advisory, risk management, tax, and related services to its clients. Carter’s is the largest branded marketer of young children’s apparel in the U.S. and Canada, operating through multiple channels including wholesale, retail, and e-commerce.
But look a little deeper, and a number of similarities start to appear, as visitors to SAPPHIRE NOW found out when they attended the two companies’ presentations at this flagship annual event.
First of all, both companies are ambitious. Deloitte wants to be seen as a cutting-edge implementation partner that offers the latest technologies to both its clients and its employees. For Carter’s, the vision is to be the world’s favorite baby and young children’s brand.
Both companies recognized the need to transform their finance functions, realizing that their existing finance solutions would not support future growth. And both chose the same solution to support their transformation.
Deloitte not only implemented its own solution, but also used the experiences and best practices gained from the deployment to support adoption at Carter’s.
Finally, among other things, both companies are expecting to deliver four key benefits to their organizations.
Support for future growth
Future growth at both companies depends on having systems that are scalable to meet the increase in business they expect to generate, as well as flexible enough to support evolving business models and functions.
Automation and simplified processes will reduce the time finance needs to manage the business. This approach also shifts the focus of finance from transaction processing to analytics and decision support.
Decreased risk to the business
Having an integrated system environment eases maintenance, reduces the need for customization, improves stability – and cuts IT expenses.
Enhanced controls and compliance
New automated processes and capabilities will reduce manual intervention, mitigate the risk of inaccuracies, and strengthen governance, security, and access controls.
There you have it: two very different companies, in separate industries, facing diverse challenges, yet sharing an overall objective for finance: an efficient, stable, and scalable platform that supports their business now and in the future.
Learn more about finance transformation at Deloitte, LLP and Carter’s with these replays from this year’s SAPPHIRE NOW conference:
Listen to York Rasmusson, senior director, Finance and HR Systems at Carter’s, discuss the changes Carter’s has made to support brand growth, geographic expansion, efficiency, and associate satisfaction.
Watch Chris Dinkel, director at Deloitte, LLP, explain how and why Deloitte, LLP has transitioned to SAP S/4HANA Finance.