Case Studies

GO Healthy

Slow and error-prone consolidation
Unreliable forecasts
Clearer view of revenue – Forecasts are now completed monthly

As New Zealand’s number one pharmacy vitamin brand, GO Healthy is passionate about helping everyone operate at their peak and it’s equally ambitious about its own performance. So when the company’s manual planning and reporting processes failed to keep up with its growth, it looked for a solution to help finance streamline reporting and address error-prone consolidation and unreliable forecasts.

Partnering with GK Horizons, GO Healthy implemented the Adaptive Insights Business Planning Cloud in just six weeks. The cloud-based planning solution replaced error-prone spreadsheets and streamlined activities like group consolidation that can now be done in real time—rather than the three days it took previously.

“Adaptive Insights is by far the best financial planning tool I’ve ever used, and we no longer worry about potential reporting errors. We can produce fast and reliable reports, and now work as a trusted partner to the business. The implementation by GK Horizons was also super-fast, astonishingly easy and even came in under budget which is hardly heard of in IT projects. Both the training and ongoing support they provide is also really good; I’m now a super user and can do things like basic modelling myself and reach out to them when I need help with something more difficult,” said Eva Kaminski, Group CFO, GO Healthy.

Kaminski said one of the aspects of the implementation that worked well is that GK Horizons implemented Adaptive Insights with her rather than for her. This approach together with GK Horizons in-depth finance experience helped to ensure the best solution design for GO Healthy.

“Assisting Eva and GO Healthy achieve their goals has been the most rewarding aspect of our relationship to date. Their business will evolve, their goals will change and we are there to assist in any way we can over the long term. This is a partnership after all,” said Matthew Grove, CEO, GK Horizons.

Today, the finance team can more easily compare budgets to actuals and accurately forecast revenue. With three days saved per month on reporting, finance is also more responsive to the needs of the business and a strategic partner in driving GO Healthy’s success.

Challenges

  • Slow and error-prone consolidation – Consolidation was managed in Excel with information pulled from three separate ERPs, slowing down budgeting and reporting and creating risk of error
  • Limited insight – Data was isolated in different spreadsheets, making it difficult to compare budget to actuals and extract new insights to drive growth
  • Unreliable forecasts – Forecasts were created based on product units for manufacturing planning, but with 600 SKUs and six major distribution channels it was difficult to translate these units into revenue
  • Lack of agility – Time and effort spent on manual processes made it difficult for finance to keep pace with the business and accommodate new requests

Results

  • Real-time consolidation – Consolidation is now instant and more accurate without the risk of errors related to data entry and complicated Excel formulas.
  • Best practice reporting – Finance has saved three days per month on reporting while also delivering more reliable and detailed information to inform decision making
  • Clearer view of revenue – Forecasts are now completed monthly and include sales and operations indicators, including revenue. Version comparison allows finance to measure forecast accuracy to inform future refinements
  • Finance now a trusted partner – With time saved on reporting and consolidation, finance can quickly respond to requests and act as a strategic partner to the business

 

About:

Founded in 2008, GO Healthy is New Zealand’s number one selling supplement brand in pharmacies. Its products are manufactured and sold in pharmacies and health food stores in New Zealand and also available in Australia and Singapore.

Location: Wellington, New Zealand

Partner: GK Horizons

Product: Adaptive Insights for Finance