SRC Software Introduces the First Expense Management Solution for the Retail Industry
Portland, OR—January 5, 2005—SRC Software, the leader in providing flexibility and sophistication for enterprise performance management applications, today introduced SRC Expense Management for Retail. This new application suite, the first offering from SRC’s retail practice, is specifically tailored to meet the unique needs of retail organizations, including headquarters, individual stores and distribution centers. The new offering provides a foundation for a full complement of future applications designed specifically for the retail industry.
Today’s retail environment relies heavily upon financial models built in Microsoft Excel, due primarily to a need for complex analysis combined with the inflexibility of most enterprise solutions. SRC provides the sophistication and flexibility needed for today’s dynamic planning environment while adding true enterprise collaboration and control. SRC Expense Management for Retail leverages an Excel-based user experience with industry-standard databases and workflow management functionality creating a uniquely comprehensive, familiar, and flexible planning and reporting solution. Unlike individual spreadsheets, SRC supports robust security, real-time consolidations and rapid retrieval of up-to-the-minute information. This results in a scalable, flexible performance management solution designed for today’s dynamic and ever-changing retail environment.
“Not only are we adding new stores every year, but we’ve also added new retail concepts. In the past it was difficult to update our financial models as we grew,” said Charles Bracher, director of financial planning and analysis for Gymboree. “The scalability that comes with SRC’s products has been a huge time-saver for us. We don’t have to reinvent the wheel every time. With SRC, managing growth from a financial reporting and forecasting perspective is painless.”
SRC’s signature performance management platform supports both top-down and bottom-up planning, involving multiple layers within the retail organization, including regional, store, and/or operational management. SRC Expense Management for Retail enables greater collaboration across retailers’ businesses as well as the incorporation of one-time events that could affect retailers’ strategic plans.
“Retailers face a multitude of budgeting challenges from forecasting comparable store sales, to planning non-exempt payroll, to performing detailed ‘what-if’ scenario analysis. With SRC Expense Management for Retail, all relevant best practices and KPI’s for retailers can be specifically customized to meet the unique needs of each client,” said Lenny Ostach, director of retail solutions for SRC Software. “This is an important first step for SRC, as we develop a full suite of unmatched solutions specifically designed for retailers.”
SRC Software (www.srcsoftware.com) is the leader in providing flexibility and sophistication for enterprise financial planning and corporate performance management. With nearly 2,400 installations in mid- to high-end enterprises, SRC`s highly-personalized budgeting, payroll planning and multi-source consolidation/reporting solutions are used by companies such as Lands` End, Gymboree, Hickory Farms, and New Balance. SRC offers a full complement of financial planning and analysis tools through its unique integration of spreadsheets and industry-leading databases complete with full-scale Web deployment. The company is privately held and based in Portland, Oregon with regional offices in Boston, New York, Austin, Chicago, Atlanta, Tampa, San Diego and San Francisco; and international offices in Brussels, Stockholm, London and Singapore. For more information, contact SRC Software at 1-800-544-3477 or by e-mail at info@srcsoftware.com.
SRC Software
Keri Spehalski, 503-608-3300
pr@srcsoftware.com
or
Schwartz Communications
Haley Boruszak or Jeremy Towsey-French, 415-512-0770
srcsoftware@schwartz-pr.com
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