Omni-channel retailer Lotus’s has moved its finance and procurement operations to Oracle Fusion Cloud Enterprise Resource Planning (ERP).
Following the success and business agility that Lotus’s gained by moving to Oracle Cloud Infrastructure (OCI) and Oracle Exadata Cloud@Customer, the retail giant has expanded its collaboration with Oracle by implementing Oracle Cloud ERP to increase productivity, reduce costs, and improve process governance and controls.
With more than 2,660 stores across Thailand and Malaysia, Lotus’s relies significantly on technology to enhance its market competitiveness and improve customer service.
To successfully meet their aggressive growth plans and maintain its market leadership, Lotus’s needed to modernise its finance and procurement operations.
Lotus’s selected Oracle Cloud ERP as the key finance and procurement back bone application to replace its legacy financial management application. With the successful implementation of Oracle Cloud ERP, Lotus’s has modernised its business processes and able to close its books in just three days.
They have increased efficiency and productivity, improved governance and control, and gained real time visibility of financial data with new reporting capabilities.
“With our ambition to lead the New SMART Retail era, where powerful technology bridges online and offline operations to offer customers a delightful and frictionless experience, our IT infrastructure plays a critical role both for our customer-facing and back-end operations,” said Thapat Soonthornnoppakun, head of IT at Lotus’s.
“Thanks to Oracle Cloud ERP, our finance and procurement operations have been standardized and automated along with better process control that brings improvement in data accuracy and process efficiency as we continue to scale,” said Thapat.
With Oracle Cloud ERP, Lotus’s is able to manage online finance and procurement operations with a better experience of working anywhere and anytime including online journal preparations and automated approval processes.
This has eliminated manual paper-based processes and has improved its position as a smart finance and procurement operations.
Also, the new automated reporting capabilities have reduced the time needed to close its books and considerably increased the efficiency and capability of Lotus’s finance team.
“Digitising business processes is critical for the retail sector, which has experienced an accelerated e-commerce boom alongside rising supply chain complexities,” said Taveesak Saengthong, managing director of Oracle Thailand.
“With Oracle Cloud ERP, Lotus’s can tap into a continuous stream of innovation and advanced automation capabilities to unlock new business opportunities and achieve faster time-to-value,” said Taveesak.
More than 11,000 organizations across all industries and geographies rely on Oracle Cloud ERP and Oracle Cloud HCM to run their businesses.