Case Study: Papyrus gains real-time retail planning insights with Workday Adaptive Planning

Streamlined Workflow Improves Collaboration With Individual Store Owners

Papyrus, a privately held retailer of greeting cards and gifts with over 500 stores, faced significant challenges due to its reliance on a cumbersome, Excel-based budgeting model. Their finance team was overwhelmed, spending a full day to reconcile over 250 spreadsheets for each budget version and lacked visibility into key metrics like seasonal SKU revenue and payroll projections. To manage its recent rapid growth, Papyrus turned to the Workday Adaptive Planning Business Planning Cloud for a more streamlined solution.

By implementing Workday Adaptive Planning, Papyrus completely transformed its financial operations. The solution provided real-time visibility into store performance, streamlined the budgeting process, and enabled rapid, accurate reporting that reduced the time to produce monthly financial reports from a week to minutes. This allowed the finance team to shift its focus from error correction to strategic analysis, resulting in more effective decision-making, better cash flow management, and the ability to continue growing during a difficult economic period.

Papyrus

Tom Shaw

CFO