Fashion Nova is owned and operated in the heart of Downtown Los Angeles, with 5 retail locations throughout Southern California. They are the #1 most-searched fashion brand on Google in 2018.
Fashion Nova had an excel based reporting and planning solution. The major problem with this type of solution is the time consuming nature of report generation and the complexity of the spreadsheet models. Fashion Nova FP&A team spent 90% of their time on report generation and 10% of their time on report analysis.
Oracle's Planning and Budgeting Cloud Service (PBCS). Now Fashion Nova's FP&A team spend 10% of their time on report generation and 90% of the time on report analysis.
The PBCS solution was integrated with Oracle's NetSuite solution for near real time financial reporting. NetSuite and PBCS have very unique integration capabilities not available on other ERP systems. Gibney Consulting partnered with Meyers Holum Inc (MHI). Myers Holum Inc, a premier NetSuite implementation consulting company.
In future phases Fashion Nova are planning to do full driver based budgeting and forecasting for Income Statement, Balance Sheet, Workforce and Capex.