Stefan Barden, CEO of Wiggle, said “Wiggle’s total and relentless focus on customer satisfaction continues to underpin our above market growth rates.” By providing a true customer 360-degree view measuring interactions across the customer journey, and focusing on customer KPIs, the net promoter score (NPS) has steadily increased, and is now at a market-leading level.
Single source of the truth
Oracle Cloud Financials and Procurement gives Wiggle an accurate and comprehensive view of its financial position and cash flow at any given moment. As a cloud-based solution, financial data is accessible globally, providing valuable information to inform and improve decision-making.
Wiggle instantly achieved greater control of indirect procurement expenditure, with improved visibility of cash flow and the balance sheet. The next project following the announcement of the Chain Reaction merger is to extend the new financials platform to the new organization, ensuring strong financial control across the enlarged operation.
Also, the corporate KPIs are now consistently embedded within the organization from top down, enabling the board to maintain visibility across a rapidly changing and expanding organization.
Wiggle has a leading edge, vanilla finance and procurement system that, like the insight platform, is readily scalable to fit in with the growth and development plans business. The Chain Reaction merger has added a significant increase in turnover to the enlarged group, but will be incorporated without any capacity concerns.
A user-friendly, intuitive front-end to the portal provides a pleasing and efficient system, automating and streamlining finance and procurement processes and providing greater control. Embedding operational analytics within the processes has also reduced employee workload, providing in-context insight – better informed decisions in fewer clicks.
Commercial teams are now armed with a complete supplier scorecard to support supplier collaboration and sourcing. This brings together fiscal and operational measures to enable buyers and suppliers to focus on the areas which can make most impact to ongoing joint success. A leading global sports brand, and a strategic supplier to Wiggle, has said, “The quality of information Wiggle now provides exceeds what we can get internally”.
Wiggle has replaced over 200 legacy systems with a proven, leading-edge solution that is integrative and scalable, particularly with other Oracle Retail products.
Low cost of ownership
Oracle Cloud Financials and Procurement is provided as a SaaS, so Wiggle did not have to fund any large up-front costs, instead paying for the service by monthly subscription, which offers better management of cash flow. Wiggle also benefits from new releases and automatic participation in upgrades to the product roadmap, as well as a reduced dependence on internal infrastructure.
Wiggle became the first European retailer to go live on Cloud Financials and Procurement clouds in February 2016, just six months after commencing high-level design. Delivering this scope of change in this timescale on an enterprise financials platform is only possible on the cloud. This capability to adapt quickly will become even more critical as Wiggle continues to accelerate its global growth.