One Source of Truth in Reporting and Forecasting for World’s Foremost Outfitter
Whoarewe...
Cabela’sCLUBVisa® Background§ Cabela’sCLUBVisastartedastheBankCard divisionofNationalBankofCommerce(NBC)in1969indowntownLincoln.InFebruaryof2000,WellsFargopurchasedNBC.
§ Cabela’sInc.purchasedpartoftheformerNBCBankCard portfoliofromWellsFargoandcharteredanewbank,World’sForemostBank,onMarch24,2001.
§ World’sForemostBank(WFB)isaspecialpurposebanklocatedinLincoln,NE.WecanonlyissueconsumercreditcardsandlargedepositCDs
§ WFBisawhollyownedsubsidiaryofCabela’sInc.
§ WFBretainstheonlygrandfatheredportfoliothatcanbewhollyownedbyaretailchain.
Cabela’sCLUBVisaPrograms• CLUBVisaBlack:218,982accounts(7.9%)
• 5%onCabela’spurchases• Annualspendof$25,000ormore• 46.4%oftotalpurchases
• CLUBVisaSilver:365,668accounts(13.1%)• Earn3%onCabela’spurchases• Annualspendof$10,000- $24,999• 28.2%oftotalpurchases
• CLUBVisaClassic:2,200,177accounts(79%)• Earn2%onCabela’spurchases• 25.4%oftotalpurchases
Cabela’sCLUBOtherPrograms
RequirementsandSelection• OperatingonanoutdatedSRCsystemandaLegacyAS400accountingsystem
• Toolforindividualandconsolidatedfinancialreportingacrossnumerousentities
• Scalability&Flexibility• Onesourceoftruth• Forecasting,budgetingandstrategicplanning
• Options• IBMTM1• SAP• Oracle
Founded in 2001Performance management consulting firmOver 200 performance management customerseCapital Advisors employees:
• Dedicated to Business Analytics and helping client better understand business drivers
• Proven record and high customer satisfaction
• Highly experienced project team
• Experienced data warehousing experts
• Over 100 Cognos technical certifications
eCapital Advisors Overview
Complete Range of Business Analytics and Performance Management Services• Strategic assessments & technology roadmaps
• Project Managers with extensive implementation experience and a proven methodology
• Business consultants with planning, financial reporting & consolidation delivery experience
• Technical consultants with DW skills & proven delivery best practice experience
• Customer enablement services (Certified IBM Cognos training instructors)
• Software reseller – provide software quotes and license configurations, renewals
eCapital Advisors Overview
ClientChallenges• Complicatedbusinessmodel• ForecastscompleteddailyandmonthlyusingExcel
• Workbookinstability• Tediouscompilingofdepartmentaldataintosinglereports
• Notraceabilityofinput• Multipleversionsfloatingthroughvariouscomputerdrives
• Complicatedforecastingcalculationswithbrokenexcelformulas
• Inconsistentamongdepartments• Notraceabilitytomanualadjustmentswithexplanations
• Longfrustratinghoursconsolidatingresultsandpresentingfinalreportingpackages
KeyRequirements• FinancialGLconsolidationforreportingActuals
• Driverbasedreportingandforecasting• Newaccount• Activeaccounts• Revolvingrate• Recoveries• Purchases• Returns• Delinquentaccounts• Applications• Fees
• Traceability
• SpecializedExpenseEstimation• Retaillabor• Driverbasedlabor• TT&E• VisaBill• FDBill
• EaseinConsolidation• AdditionalUserAccess• EnterpriseIntegratedInputs
• GLInformation• SalaryInformation• CapitalInformation
ClientApproach
• NeedactualGLdatareporting• Provideanentrypointfordepartmentleads• Onesourceoftruthratherthanmultipleworkbooks• Speedandaccuracyofdataload• Needabilitytopushdatabacktocorporateretailforecast
Solution• Detailedcubestructuretoensurecontinuityandaccuracy.
• Driverbasedcalculationsforexpenses
• “Triggered”eventstodriveconsistentexpensetomultipledepartments
Solution– continued• Planningonadaily,weekly,monthly,annualand5-yeartimeline
• GlobalAssumptionsusedtoplanvariousincomeandexpenses
• Complexrulebasedcalculationsincludingvariableamortizations
• MarketingCubes
Solution– continued
• WebAccessforallusersbasedonreportinghierarchy• Commentsinallreportsthataremovedbetweenmodels• RobustCDMreportingpackages• Easeofuse• Speedofchangesandreporting• Customizationandflexibility• Automationthroughprocesses
Impact
• Implementationmeetingallexpectations• Nomanualefforttoconsolidateactualfinancialsformonthlyreporting• Traceabilityofentry• What-ifanalysistodrivewhereeffortsshouldbespent
• Consistentandaccurate• Accesstoinformationismoreefficientandwidespread• FinancedepartmentcananalyzeandadjustspecificdriverstodeterminehowitwouldeffectoverallP&L
• Ratherthantediousexcelworkanalystsanddepartmentleadsareabletopushexpense,revenue,CapitalExpenditure,corporatesalary,dailyaccountactivity,marketingandretaillaborprojectionsintofinancialstatementswithinsecondsratherthandays.
IBMisaworld-classallyforthisjourney
Valu
e
Maturity
Today’s challenge
Realize performancepotential
Drive analyticinnovation
Forecasting success
Elevate with predictive
Better outcomes
Analytic agility
• Spreadsheets for reporting and analysis
• Enterprise resource planning budgeting
• Isolated applications
• Disparate data
• Financial and operational performance management
• Rolling forecasts
• Key performance indicators (KPIs) and scorecards
• Statistical algorithms to improve information under uncertainty
• Predictive intelligence
• Driver-based planning and forecasting
• Near-real-time analysis
• Scenario analytics
• Narrative reporting
• Dashboards and management reports
Span the enterprise
First steps
Status quo Integrate and accelerate
Automate and model
• New analytic modeling and enhancement
• Product and customer profitability analysis
• Continual alignment of resources with opportunity
Cabela’sTM1ImplementationWorkStreams
• CorporatePhase1• FinancialReporting• BudgetingandForecasting
• ClubBudgeting,ForecastingandReporting• CorporatePhase2
• RetailSalesandLaborplanning• DistributionCenterLaborPlanning
Corporate Phase One
CorporatePhaseOne
• WebApplicationforuserstocontributetoForecastsandBudgets• DistributedFinancialReportsviaTM1Web• AbilityforCanadateamtocontributeintheirlocalchartofaccountsandcurrency
• SynchronizedlevelofdetailbetweenBudgetingandForecasting• CreatedanautomatedCashFlow
RetailSalesandLabor
RetailSalesandLabor
• AutomatedanexhaustivemanualExcelprocess• Allocatedsalesdetailbyproductcategorybasedonhistorytoinitiateplanning
• Builtintheabilitytoadjustcalculatedvaluesateverylevelofdetail• IntegrationoffinalRetailSalesvaluesstraightintothecorporatebudgetmodel
DCLaborPlanning
DCLaborPlanning
• Replacementofexistinghomebuiltsystem,lessthantwoyearsold
• Wantedtobringallbudgetingprocessesintoonesystem• Streamlinedplanningprocessthroughintegrationoflaborvaluesautomaticallyintothecorporateincomestatementmodule
• Enhancedexistingfunctionalitywherepossible
NextSteps
• CLUBInitiatives• LiquidityModels• Charge-offsModels• ReserveReportingandForecasting• Monthendcloseaccrualworkpapers
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