Lagerinn is one of Iceland’s main home decor and hard and soft furnishing retailers. The company has eleven retail outlets, and its portfolio consists of popular regional brands and international franchises including JYSK, ILVA, and The Pier.
Lagerinn already had a robust data ecosystem in place.
The company’s ERP system, Microsoft Dynamics Nav (Now Dynamics 365 Business Central), runs the central retail and finance data warehouse. In addition, Lagerinn has a POS system by LS Retail and a Nutanix hybrid cloud. Valitor, a long-standing exMon client, also processes the company’s credit and debit card transactions.
“The first challenge we faced was reconciling sales from the POS credit card settlements. The data process had recurring errors and we needed a way to proactively detect and fix those issues before they became revenue leakages.”
– Halldór Sigurjónsson, CFO and Head of IT, Lagerinn
Lagerinn needed a way to identify, monitor, track and eliminate errors at the source.
Sigurjónsson had used the exMon data management platform in a previous role.
Implementing the familiar data quality management platform and master and reference data management tool, the Lagerinn team established over 200 exMon controls to enforce data quality, fix source issues and make engineering improvements to their systems and processes.
Lagerinn has discovered multiple use cases for the exMon platform since adoption and continues to reap the rewards it has to offer.
- Live notifications: exMon sends notifications to stakeholders if accounts are overdue, credit limits are breached, or if the team needs to update expired or inconsistent vendor credit information, increasing internal efficiencies
- Proactive purchasing: alerts are shared via the platform when the company needs to increase or amend prices in the system to remain profitable, which was once a manual task
- Real-time inventory: exMon has enabled the company to automate time-consuming manual processes like inventory fulfilment and monthly or bi-weekly vendor payments, saving significant time and resources
- Live BI: Lagerinn also uses exMon to schedule, coordinate and leverage its data infrastructure, and use live reports, transforming the company’s business operations
In Lagerinn’s two-and-a-half-year quest for continuous improvement, exMon has been and continues to be an agent for change.