Optimizing Financial Processes: Qdoba's Seamless Transition with NetSuite and MindStream Analytics
Qdoba, a prominent chain of fast-casual restaurants in the United States and Canada, specializes in Mexican-style cuisine. The implementation project was primarily focused on enhancing the efficiency and functionality of their accounting department.
Challenge
The Qdoba team faced several key challenges:
- Securitization Transaction Differentiation: The team needed to differentiate transactions for securitization within a tight timeline, requiring a collaborative and innovative approach.
- Complex Entity Dimension Management: Managing an extensive Entity Dimension with multiple, sometimes obsolete, alternative hierarchies presented a significant challenge.
- Effort-Intensive Adjustments: Making adjustments in Actuals for old periods was laborious, as it required processing each month individually.
Solution
MindStream Analytics devised strategic solutions to these challenges:
- Repurposing Dimensions: The Emp dimension was repurposed as subsidiaries, simplifying the Entity dimension and enabling transaction differentiation based on the subsidiary.
- Entity Dimension Cleanup: By removing unused members, the team streamlined the Entity Dimension to two-thirds of its original size.
- Implementation of Pipeline Tool: A new Pipeline tool in EPM Cloud was implemented, allowing for the loading of an old period and recalculating all data moving forward without the need to reload each period individually.
- Ensuring Continuity: Care was taken to ensure that current artifacts were not affected and no vital data was lost, allowing for uninterrupted workflow continuation.
- Modernization of Integration Process: Leveraged the new Pipeline utility for more efficient and cost-effective data loads, eliminating the need for external servers.
- Introduction to Reports 2.0: Prepared the customer for the transition to Reports 2.0, considering the impending deprecation of Financial Reporting.
Outcome
The implementation process was highly successful:- Seamless Migration: Qdoba experienced a smooth transition with uninterrupted workflow.
- Efficiency and Cost-Effectiveness: The new tools and streamlined processes led to a more efficient and cost-effective operation.
- Future-Ready Reporting: The team is now well-prepared for the transition to Reports 2.0, which is crucial for their data consumption needs.
Rachel Clark, Director of Reporting & Securitization at Qdoba, praised the implementation, stating, "It was one of the best implementations we have done."
This case study illustrates how the strategic implementation of NetSuite by MindStream Analytics revolutionized Qdoba's financial processes. By addressing complex challenges with innovative solutions and ensuring a seamless transition, Qdoba was able to optimize its financial operations, setting a new standard for efficiency and effectiveness in the fast-casual dining industry.
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