NewDay, formerly SAV Credit, is a financial services company specialising in providing credit products to consumers in the United Kingdom. The company was established in 2000. VC backed, SAV Credit completed the acquisition of Santander’s retail co-brand card and point-of-sale finance business and was rebranded as NewDay. The company executes card services for many of the UK’s best-known high street retailers including Debenhams, the Arcadia Group, House of Fraser and Laura Ashley and is one of the largest credit card portfolios in the UK with over 3.5 million customer accounts and balances of more than £1 billion. Newday is now recognised as one of the fastest growing companies in the UK.

The challenge:

As a result of the Santander deal and the Group’s ambitious plans for future growth, it had become apparent to the CFO that they were fast out-growing their incumbent Finance Systems. Inability to handle transaction growth, insufficient reporting capability, process inefficiencies and lack of chart of accounts sophistication, were all slated as issues.

The solution:

SystemsAccountants were recommended to the CFO and subsequently retained to provide an Interim Finance Systems Selection & Project Manager.

The outcome:

Our Interim PM was experienced in the evaluation and selection of ERP systems and guided the client team through a structured process which led to the selection of a suite of integrated Financials, Procurement and Reporting Systems based on Infor products (SunSystems v6, Ipos (3rd party solution), and Infor PM). We also provided a Business Process consultant to execute a current state assessment of finance function roles and to lead a business process design exercise to create new business processes enabled by the new systems architecture.