12 key financial processes
automated by Redwood
On track to achieving
On track to achieving
financial sustainability goals
Jumbo is the second largest supermarket chain in the Netherlands. Customers can shop Jumbo in-store and online and enjoy sit-down and takeout meals at its La Place restaurants.
After acquiring several supermarket and convenience store brands, Jumbo needed to streamline the resulting workforce and maximize productivity to ensure long-term profitability.
To efficiently integrate the new business units and their employees, Jumbo had to streamline and centralize back-office functions such as finance, IT, and HR and address redundancies.
Jumbo fully expected it would have to rely on fewer employees to accomplish even more after integrating the acquisitions and consolidating their finance, IT and HR departments.
Jumbo selected Redwood Finance Automation to enhance efficiency, support the finance function, and enable innovation to boost profitability.
The moment Redwood automated 12 key financial processes, Jumbo was on track to achieving its cost-saving and financial sustainability goals.
At Jumbo’s single, central location, Redwood’s business process automation allowed the streamlined finance team to consistently meet expectations and targets.
Redwood Finance Automation was configured specifically to meet Jumbo’s unique needs. As a result, it gives senior leaders the bandwidth they need to focus on valuable analysis rather than the routine, repetitive tasks that Redwood’s platform was designed and built to handle for them.
With Redwood, Jumbo has successfully automated:
- Stock in transit reporting
- Doubtful debt provision
- Journal entry management
- Payment approval
Other key processes implemented include:
- Journal voucher processing
- Cost allocations and accruals
- Credit card deposit reconciliation
- Payable invoice validation
- Data matching and reconciliation
- Cash payment posting
- Lease cost distribution
- Bonus and compensations
- Automatic processing of state lottery
- Automatic invoice posting
- Various asset processes
- Processing of EDI invoices
- Master data creation
- Cost centre reporting
- Freight fees calculation
- Tax reporting on assets
- Automatic posting of GL bookings
- Automated update of documentation
Redwood gave Jumbo the ability to build, test and roll out automated financial processes in a systematic manner.
With Redwood, data is readily available to internal and external auditors and regulators and supports compliance requirements. Senior leaders now have complete confidence in the timeliness and accuracy of the data they’re using to identify patterns and develop future strategies.