Retail giant Halfords selects Qube Horizon for property management and IFRS 16 | 12 June

This news story relates to Qube Global Software, one of our previous brands. For more information please read the press release.

Halfords, one of the UK’s most recognisable consumer brands, has selected Horizon to deliver complete property and lease management technology solutions across its portfolio of more than 750 nationwide locations.

As a market-leading supplier of software for retail occupiers, Qube was originally engaged by the organisation in relation to meeting its IFRS 16 requirements. However, the benefits and efficiencies possible with an end-to-end system across the property life cycle saw the project quickly develop into the adoption of the full Horizon platform.

Horizon will enable Halfords to achieve and maintain the integrity of data for more than 1000 leases across its stores and service centres. It will also be used to automate several processes, as well as empower deeper collaboration between finance and property departments.

Halfords operates primarily in two broad markets; motoring and cycling. Its retail division boasts some 165,000 product lines, with approximately 8000 employees across its stores, making it the UK market-leader in its sector. In addition, Halfords Autocentres was acquired in 2010 and provides car service, repair and MOTs to both retail and fleet customers throughout the UK.

By selecting Qube, Halfords adds its name to an extensive group of industry-leading retailers utilising the Horizon product for property management and lease accounting. The web-based solution delivers a comprehensive suite of functionality and features designed for occupier management.

“It was obvious from the start that Qube has a clear understanding of our requirements, particularly the complexities involved in dealing with a large number of retail leases and the implications of the IFRS 16 standards. We look forward to working on the next phase of the project, as we further develop our partnership with the Horizon team.” – Katie Gregory, Head of Group Reporting at Halfords.

“We are delighted Halfords has decided to implement Horizon, not just to tackle the complexities of IFRS 16 but also to manage the sizeable portfolio it occupies. Our work with another major retail enterprise is further evidence of our strength in the sector – and we’re proud to welcome one of its major names to our valued client base.” – Steven Fox, Head of CRE Solutions at Qube, and MRI Software Company.