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Our Offer > Business Assurance > Retail

WeDo Technologies support retailers improving operational effectiveness and managing risk through:

measuring business process execution, through KPI’s, looking for potential faults that may indicate profit has leaked or is about to leak away
tracking and comparing data between several systems to ensure it is coherent and decisions or processes are supported by the right data
triggering cases for resolution using integrated case management and ensure appropriate escalation to timely remediate problems that are flagged.
reporting relevant business KPI’s to various levels of the organization through powerful Dashboards

… and we call it Business Assurance.

In Retail most Inefficiencies at process execution will directly translate into the retailer’s P&L in the most diverse ways
We focus on finding process inefficiencies (against targets) or processes that have deteriorated over time (through trends)
By keeping a close eye on business process effectiveness we are able to help improve your P&L

How do WeDo help to improve the P&L?

Continuously monitor Key Business Indicators for benchmark deviation or adverse trends
Check for data integrity across systems and processes

Early detection of failures and increased risk exposure, trigger the right alarms

Measure feedback/effect of corrective measures

The Business Assurance practice is focused on data quality and consistency, on its financial value and on the implementation of controls on top of the business processes.

Considering some of the business processes from a retail value chain we can identify some areas for Business assurance attention:

Revenue, Cost & Margin Assurance

Assure the correct invoicing of all transactions, products and services, towards customers and partners, identifying sources of revenue leakage (ex: billbacks , price consistency). Control, rationalize and redesign non-core business processes

Operational Risk Management

Assure reduction of losses due to known operational risks related to customers, assets and business practices, including stock control (out of stocks), customer credit, collections and bad debt

Fraud Mitigation

Assure reduced losses due to internal and external fraud (including misappropriation of assets, inventory fraud, purchase order fraud, money laundering etc)

Service Level Agreements

Assure that the service levels agreed with customers, suppliers and partners are met

Regulation / Compliance

Implement effective controls to facilitate compliance, reducing compliance/auditing costs and aligning compliance with business performance (e.g. SOX)

Process Compliance to Quality Procedures

Assure reduced losses due to failed process management/non-compliance towards quality procedures

In summary, to adopt Business Assurance practices is becoming critical for the retailers in order to prepare the business for market challenges, operational risks and new business models.