Client
Limited Brands sells lingerie, personal care and beauty products, apparel and accessories through its Victoria's Secret, Pink, Bath & Body Works, C.O. Bigelow, La Senza, White Barn Candle Co. and Henri Bendel brands. The company's products are available in over 3,000 specialty stores nationwide, through the Victoria's Secret Catalogue and online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com. Through its La Senza brand, products are also available in Canada as well as approximately 40 other countries around the globe. Limited Brands recorded sales of $9 billion in 2008 and employs more than 90,000 associates throughout the United States.
Brands
Challenge
Limitedbrands required a consolidation and reporting system to one, replace their legacy reporting system and two "sit on top" of a new SAP implementation. Limited was organized to allow their divisions to operate autonomously to some extent. So we were tasked with designing an HFM application that would satisfy the reporting requirements of all the divisions (Brands).
Solution
ITI Consulting partnered with Cap Gemini to implement Hyperion Financial Management (HFM) and Financial Data Quality Manager (FDM). An FDM location was created for each division to give them the flexibility of having autonomous mapping and data import capabilities. The business process, work flow and HFM application was designed so each division could load and validate their data, consolidate and report on the results individually.
Results
The divisions (Brands) could now load and validate their data, consolidate and report on the results individually. Therefore, the new system reduced corporate accounting's validation and reconciliation efforts, increased their efficiency, reduced the close cycle time, and satisfied the Sarbanes Oxley (SOX) financial reporting requirements.
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