Takeya creates profit and loss reports 30% faster, gains business insight into sales channels, and supports growth with planning Cloud
Founded in 1947, Takeya Co., Ltd. is Japan’s leading general discount store with a nine-building shopping complex—with 45 floors in total—near the Okachimachi train station. It sells a wide range of products, including home appliances, furniture, office supplies, clothes, watches, jewelry, food, alcohol, sporting goods, medicines, cosmetics, and stationery. Takeya also offers foreign travelers hugely discounted duty-free items, such as imported designer watches and bags, and handles an average of up to 20,000 daily visits.
To meet the demand of Asian tourists, Takeya opened a new store—the Ueno Select store—with direct transport links to Narita International Airport. The increased buying power of Chinese customers also prompted Takeya to introduce the first Alipay service—a payment option offered by the Alibaba Group, China’s largest ecommerce site—to improve customer convenience and support business growth.
“By adopting a flexible, intuitive, and secure Oracle Planning and Budgeting Cloud Service, we can create reports 30% faster and gain fresh insight into our business performance across multiple sales channels. This supports better decisions to handle a rapid increase in tourist customers.”
Business challenges
Enable managers to analyze store profit and loss in multiple dimensions, including by product category, building, floor, and store space, and support faster decision-making, such as adding popular cosmetic and food products to buildings with higher customer traffic
Gain ability to rapidly calculate and create analytic reports instead of manually developing macros in spreadsheets each time, in addition to the ability to avoid the risk of suspending operations when a particular finance professional is out of the office
Expand business insight into multiple sales channels—such as duty-free and online sales—by identifying customers other than just by membership type and support growing demand from tourists and Japanese customers
Ensure availability and security of business-critical corporate information, such as financial models and assumptions for sales
We selected Oracle Planning and Budgeting Cloud Service because it is easy to use, secure, affordable, and enables complete integration with Microsoft Office. Its multidimensional analytics function also met our requirements to support a multi-building and multi-floor retail environment.
Results
Created profit-and-loss analysis reports 30% faster by using Oracle Planning and Budgeting Cloud Service to automatically aggregate data and calculate complex financial models based on fast-changing retail environment, such as adding new product categories and sales channels, and moving discount products to a different floor or building
Gained insight into the shopping business’ financial position, such as operating income, by enabling drill-down into profit and loss by product category and individual product
Reduced labor costs by integrating financial data, such as cosmetics products revenue, from multiple spreadsheets across different departments, including sales and accounting, eliminating time-consuming manual spreadsheet processes and the risk of relying on individual employee skill sets
Enhanced management strategy and responded faster to rapid growth by enabling the company to analyze business performance based on four key dimensions—product category, floor, store, and new sales channels, such as duty free—and gain deeper insight into various profit levels, including sales per product, operating profit, and total profit
Ensured data consistency by enabling users, such as store managers and accounting staff, to easily update and extract data, such as duty-free revenue, from Oracle Planning and Budgeting Cloud Service rather than multiple spreadsheets, and view the data in a familiar Microsoft Excel format thanks to Oracle’s Smart View for Microsoft Office
Enhanced control for accounting operations by allowing users to access and update data based on individual responsibility, such as sales or accounting staff members, thanks to Oracle Planning and Budgeting Cloud Service’s flexible, role-based workflow feature
Increased data security and minimized accounting staff members’ workload by automating daily data backup with Oracle Cloud and eliminating the time to manually back up critical spreadsheets with the legacy system
Reduced initial investment cost and ongoing operating cost—including hardware, development, and implementation—by using subscription-based access to Oracle Planning and Budgeting Cloud Service
Partners
Zeal Corporation assisted Takeya to configure and install Oracle Planning and Budgeting Cloud Service based on the specific needs of Takeya’s retail operations.
“Thanks to Zeal’s high-level skills and thorough understanding of the retail industry, we have constructed an ideal planning solution to support our multi-building, multi-floor retail environment,” said Kan Takayasu, chief of accounting department, Takeya Co., Ltd. “Zeal also responded rapidly to our queries, enabling us to deploy the new system on time and rapidly realize the benefits of Oracle Planning and Budgeting Cloud Service.”