Stella McCartney partners Board to automate financial systems

Stella McCartney is partnering with decision-making platform Board International for digital transformation of the company’s finances.

The agreement will apply Board’s technology to financial consolidation and lease accounting processes at the luxury lifestyle brand.

Under the terms of the partnership, the company will be able to automate financial consolidation from multiple locations worldwide, replace manual and time-consuming consolidation activities, model the impact of different scenarios on financial performance and achieve full lease accounting compliance.

Stella McCartney was launched under the designer’s name in 2001, with collections available in more than 100 countries and 53 freestanding stores, including London, New York, Los Angeles, Paris, Milan, Tokyo, Hong Kong, Shanghai and Beijing.

Sandra Federighi-Oni, chief financial officer at Stella McCartney, said the technology had been vital to the management of the brand.

“Board’s expertise in automating and analysing key financial reporting to obtain new insights, by simulating what-if scenarios adds a new dimension to our strategic financial planning,” said Federighi-Oni, adding: “We can plan for future progress and model multiple scenarios to inform our decision-making, with a fully holistic view of our latest financial data and metrics.”

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