Grupo Avenida reduces financial close time by 20% with Oracle Cloud ERP
The fashion, footwear, and bedding retailer improves accounting and financial controls with Oracle Cloud ERP, improving its corporate governance.
“Oracle Cloud ERP allowed for an improvement in the preparation of reports in the accounting and financial areas, particularly in terms of speed and data reliability, which generated improvements in the company's planning management. We also reduced our dependency on the IT team and have more autonomy to customize the tool according to our needs.”
Founded in 1978, Grupo Avenida is one of the largest retail chains in Brazil, with over 130 stores across its two core brands. In recent years, the retailer experienced accelerated expansion and needed new technology to improve its financial processes. The company wanted a planning solution for greater support, reliability, and control in its financial department, as well as to assist in establishing more structured processes. After conducting market research, Grupo Avenida chose Oracle Fusion Cloud Enterprise Resource Planning (ERP). The most visible benefit from the implementation was a 20% increase in accounting efficiency, with the time spent on financial closings reduced to eight days. In addition, the company optimized purchasing processes, eliminating the receipt of invoices via email, and improving purchase orders with suppliers.