Thailand’s leading omni-channel retailer taps cloud technology to embark on the next phase of SMART Retail, increase productivity and improve process governance
Lotus’s, one of the largest modern retail chains in Thailand and Malaysia, has moved its finance and procurement operations to Oracle Fusion Cloud Enterprise Resource Planning (ERP). Following the success and business agility that Lotus’s gained by moving to Oracle Cloud Infrastructure (OCI) and Oracle Exadata Cloud@Customer, the retail giant has expanded its collaboration with Oracle by implementing Oracle Cloud ERP to increase productivity, reduce costs, and improve process governance and controls.
With more than 2,660 stores across Thailand and Malaysia, Lotus’s relies significantly on technology to enhance its market competitiveness and improve customer service. An established leader for ‘New SMART Retail’, Lotus’s prides itself in opening next-generation stores curated for the lifestyles and unique needs of its customers and offering a delightful frictionless shopping experience. To successfully meet their aggressive growth plans and maintain its market leadership, Lotus’s needed to modernize its finance and procurement operations.
Lotus’s selected Oracle Cloud ERP as the key finance and procurement back bone application to replace its legacy financial management application. With the successful implementation of Oracle Cloud ERP, Lotus’s has modernized its business processes and able to close its books in just three days. They have increased efficiency and productivity, improved governance and control, and gained real time visibility of financial data with new reporting capabilities.
“With our ambition to lead the New SMART Retail era, where powerful technology bridges online and offline operations to offer customers a delightful and frictionless experience, our IT infrastructure plays a critical role both for our customer-facing and back-end operations. Thanks to Oracle Cloud ERP, our finance and procurement operations have been standardized and automated along with better process control that brings improvement in data accuracy and process efficiency as we continue to scale,” said Thapat Soonthornnoppakun, Head of Information Technology – Finance, Mall, Property and People, Lotus’s.
With Oracle Cloud ERP, Lotus’s is able to manage online finance and procurement operations with a better experience of working anywhere and anytime including online journal preparations and automated approval processes. It has eliminated manual paper-based processes and has consolidated its position as the leading smart finance and procurement operations across the retail industry. Furthermore, the new automated reporting capabilities have reduced the time needed to close itsbooks and considerably increased the efficiency and capability of Lotus’s finance team.
“Digitizing business processes is critical for the retail sector, which has experienced an accelerated e-commerce boom alongside rising supply chain complexities,” said Taveesak Saengthong, managing director, Oracle Thailand. “With Oracle Cloud ERP, Lotus’s can tap into a continuous stream of innovation and advanced automation capabilities to unlock new business opportunities and achieve faster time-to-value.”
More than 11,000 organizations across all industries and geographies rely on Oracle Cloud ERP and Oracle Cloud HCM to run their businesses. Oracle Cloud ERP offers a comprehensive set of enterprise finance and operations capabilities, including financials, accounting hub, procurement, project management, enterprise performance management, risk management, subscription management, and supply chain management & manufacturing. Oracle Fusion Cloud Applications Suite is a self-updating platform that provides customers with the industry’s most advanced technologies every 90 days, giving organizations the ability to build, innovate, automate, adapt, and leverage new business opportunities on-demand.
The project was implemented by Accenture, a long-time Oracle PartnerNetwork (OPN) member. “Technology transformation is critical for helping retailers meet rapidly evolving customer preferences and deliver the services and experiences they expect,” said Patama Chantaruck, country managing director, Accenture Thailand. “Drawing on Accenture’s technology and retail industry experience, we helped Lotus’s further expand its Oracle footprint to drive value, allowing the company to better respond to change, improve operational efficiency and optimize new business processes to support its next phase of strategic growth.”