Shoprite: The Synopsis
A BPC Success Story
Africa’s largest food retailer has gained major benefits following deployment of SAP BPC for financial consolidation, with implementation partner CQS Performance Solutions. Benefits include all group data being available in a single source, reduced reporting cycles and a more controlled reporting process with validations to ensure accuracy. The ability to do sensitivity analyses is another key advantage, as is the automated inter-company elimination process and the accuracy of automated FCTR calculations. In addition, even when the data is not yet complete, the group’s accountants are able to perform a soft close to give a preliminary view of group data at a very early stage.
Shoprite Holdings Ltd operates 1166 corporate and 283 franchise outlets in 16 countries across Africa and the Indian Ocean Islands. Reported turnover was around R67 billion for the year ended June 2010. It is a public company listed on the JSE Limited, with secondary listings on both the Namibian and Zambian Stock Exchanges. The Shoprite group has various brands and business models. Its primary business is food retailing through stores including Shoprite, Checkers, Usave, OK Furniture and House & Home. It also owns Computicket and the Hungry Lion chain of fast food outlets.
We no longer have ‘black holes’ and the system has given us much insight into our exposure to currencies. Gone are the days when we had to pore over spreadsheets with highlighters to find out why the numbers didn’t.
Lerena Coertzen Group Finance Shoprite Checkers