We enabled Boozt to automate their FP&A processes, providing them with more accurate and up-to-date data.

Background  

Boozt is a leading Nordic technology company and online retailer headquartered in Copenhagen. The company primarily serves the Scandinavian market but has expanded its reach to customers across Europe. Founded in 2011, Boozt has grown rapidly, becoming a prominent name in online fashion retail. To support the growth strategy and drive better decision-making, the company needed a robust, centralised FP&A tool.

 Challenge  

As Boozt continued to grow and set more ambitious financial targets, the finance team’s existing financial planning and analysis (FP&A) process, largely built and managed in Excel, became increasingly inefficient and difficult to scale. While Excel provided flexibility in the early stages, it lacked the structure, integration and automation needed to support a dynamic, fast-growing business. The team faced challenges with version control, data consistency and time-consuming manual updates, which limited their ability to focus on value-added analysis. The ownership for managing and updating the Excel models stood with one person during every budgeting and forecasting cycle.

Solution  

Boozt needed a robust FP&A tool that could manage the entire planning process, ensure data connectivity across departments and provide real-time insights.

Our team delivered a complete FP&A solution that replaced their Excel-based setup. This included tools for revenue forecasting, workforce planning, operating expense planning, three-statement financial reporting and marketing project planning.

Pigment’s FP&A tool stood out to Boozt due to its flexibility and scalability. They needed a solution that could adapt to the complexity of their business and could evolve as their business continued to evolve. Pigment gave Boozt’s team the structure they needed without sacrificing the agility they valued.

Process   

Boozt wanted to work with a partner that had proven experience in delivering successful implementations of the Pigment FP&A tool. They wanted more than just technical expertise; they wanted a team that understood the unique demands of FP&A in a fast-growing e-commerce business.

Once Boozt engaged our team, we took a well-structured and collaborative approach to the project, moving through several key phases:

• We began by exploring Boozt’s current challenges and goals to gain a clear understanding of Boozt’s business context and planning needs.
• Our team provided targeted demonstrations of Pigment’s capabilities, demonstrating how the platform could meet Boozt’s requirements as the company continues to scale.
• Together, we defined the scope of the project, outlining the modules, use cases and overall timeline to ensure alignment on expectations and deliverables.
• We worked closely to detail the functional and technical requirements for each area of the FP&A process, ensuring the solution was tailored to the team’s needs.
• All requirements were then translated into a comprehensive solution design, mapping out how each module would be structured and integrated.
• Our team built the solution iteratively, involving Boozt’s FP&A team regularly for feedback and validation to make sure it aligned with the original vision and data logic.
• Finally, the solution was tested thoroughly. Any issues were quickly identified and resolved to ensure everything was functioning correctly and ready for go-live.
  
  

Outcome   

With Boozt’s FP&A team now using a centralised, connected platform, they have gained better control, more accurate data and more efficient planning workflows. The team saw real value in the solution very early on; they were able to model and analyse the impact of important strategic headcount changes, which would previously take weeks in Excel, in just a few days.

Pigment’s agility has enabled the team to respond quickly to business needs. Having a flexible and scalable planning platform has significantly improved their ability to plan proactively, align across teams and support faster, data-driven decision-making across the organisation.

They have gained a much higher level of data granularity than before, allowing them to drill down into specific cost drivers and performance metrics with ease. They can now forecast monthly with minimal manual effort, a task that was previously time-consuming and difficult to manage in Excel.