Dynamics 365 Business Central for Tiffany & Co. — Retail finance & POS in Iceland

Tiffany & Co. engaged Awara IT to modernize finance, accounting and retail operations at its Iceland retail operation using Microsoft Dynamics 365 Business Central. The engagement focused on automating the formation of accounting, tax and corporate reporting, supporting customs broker reporting, and eliminating manual processes for employee bonus calculation and product labeling.

Awara IT integrated Business Central with the existing LS Retail vertical, point-of-sale hardware, online cash registers and Icelandic bank systems. The result was a consolidated finance platform that reduced manual reconciliation, accelerated month-end close and ensured Iceland-specific tax and customs compliance while preserving retail continuity at point of sale.

Müşteri / Sektör / Ülke

Tiffany & Co. is an American luxury jewelry and specialty design house with a retail presence in Iceland. The project covered finance, accounting and retail operations for the Iceland store(s), aligning a global luxury brand’s processes with local retail and compliance requirements in Western Europe.

İş zorluğu

Tiffany & Co.'s Iceland operation relied on a mix of Microsoft Dynamics NAV and the LS Retail solution for store operations. Financial and tax reporting was generated through largely manual processes, creating delays in month-end close and increasing the risk of errors in corporate and customs reports provided to customs brokers.

Additional operational challenges included manual calculation of employee bonuses, bespoke labeling requirements for perfume and jewelry, and multiple point integrations: cash equipment, online cash registers, client banks and document management. These fragmented processes created data duplication, extended reconciliation cycles and limited visibility for finance and retail leaders.

Neden Dynamics 365 seçildi

Dynamics 365 Business Central was chosen because it aligns with the customer’s existing Dynamics NAV heritage while offering a modern, supported ERP that integrates natively with LS Retail extensions. Business Central provided a single finance ledger to consolidate sales from stores and online channels, enabling quicker month-end close and centralized tax reporting.

Selection criteria also emphasized Microsoft stack compatibility (Azure, Microsoft 365/SharePoint, Power Platform) and secure API-based integrations with Icelandic banks and customs brokers. Awara IT was selected as implementation partner for its practical experience integrating Business Central with LS Retail verticals and retail peripherals.

Uygulanan modüller

• Financial Management and General Ledger
• Accounts Payable / Accounts Receivable
• Inventory & Item Management (retail-focused)
• LS Retail integration and POS consolidation
• Cash Management and Bank Integrations
• Custom bonus-calculation workflow (Power Platform)
• Document Management (SharePoint integration)
• Labeling and product identification extensions

Entegrasyonlar

• LS Retail (vertical solution) for store POS and retail operations
• Integration with cash equipment and payment terminals
• Online cash register integration (fiscal receipts)
• Direct bank integrations with Icelandic client banks (API/SFTP)
• Customs broker reporting (EDI/XML transmission)
• Document management via SharePoint and scanned-document ingestion
• Label printer and barcode system integration for perfume and jewelry

Yerelleştirme ve uyumluluk

The implementation included Iceland-specific tax and regulatory configurations: VAT codes, tax reporting layouts, currency handling (ISK) and fiscal receipt requirements for online cash registers. Awara IT implemented compliance features for customs declarations and formatted reports used by customs brokers to meet Icelandic import/export procedures.

Language considerations and local accounting standards were addressed by configuring localized ledger posting routines and report translations where required. Fiscal integration with online cash registers and bank communication followed Icelandic technical guidelines to ensure auditability and legal compliance.

İş değeri

Consolidating finance and retail data into Dynamics 365 Business Central removed several manual reconciliation steps and centralized reporting for corporate and customs use. Finance gained faster access to accurate figures, enabling decisions based on current retail performance rather than stale spreadsheets. Automation of bonus calculations and invoice workflows reduced administrative overhead and improved payroll accuracy.

Retail continuity was preserved through certified integrations with LS Retail and point-of-sale hardware, reducing downtime risk during cutover. Localized compliance features for Icelandic tax and customs reduced audit risk and simplified reporting to customs brokers and local authorities.