Modern Finance

Topics: Balance sheet, SAP AG, Wal-Mart Pages: 3 (800 words) Published: February 17, 2013

Walmart, the retail giant, is pushing ahead with the implementation of SAP financial tools across the world following the success of the pilot installation at Asda. In its Q2 results, the company said that the new financial reporting system went live in the US, Canada and Puerto Rico in 1 May. The system implementation started in January 2008 in the UK and went live in June 2009, and the rollout is due to reach Japan in October. This is the first stage of a three-part, overall project called PROFIT. The SAP system replaces Walmart’s legacy, in-house developed system, which had grown over 30 years. The new financial system runs on an IBM Mainframe hosting a DB2 database and SAP central services on a Z/OS operating system. The SAP Application Servers run on IBM AIX Unix Servers. • Wal-Mart signs deal to secure network data

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“The SAP implementation gave us the ability to improve our methodology for valuing inventory under the retail method of inventory accounting,” Walmart said in its financial report. “We have improved our ability to measure inventory at more granular levels.” Walmart reported profits of $3.60 billion (£2.3 billion) in the second quarter ended July 31, up from $3.48 billion in the same period last year. Its revenue had also increased by 2.8 percent to $103.73 billion (£66.8 billion). Meanwhile, Doug McMillon, Walmart’s international president and CEO, said: “In the United Kingdom, Asda continues to make good progress towards their strategic goals.” David Dixon, SAP programme manager at Asda, told Computerworld UK that Asda implemented SAP’s Financials, which included functions such as general ledger, accounts payable, accounts receivable, capital procurement and asset management. Asda also installed SAP’s Business Intelligence reporting module. “Walmart realised they needed to replace their financial systems for a more scalable and flexible...
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