A Newspaper that has more News than Paper.

Newsletter

HSC FINANCE

August 2012

HEAD lines
Let me share two very good pieces of news with youThe latest retail industry data reports that Tesco in UK was the fastest growing of the 'big four' supermarkets in the four weeks to August 5th. This is seen as evidence that the 1bn investment plan in the UK is starting to have an effect. Fantastic news for our business!!!!! And the 2nd good news is - I introduce you to our very latest and very chic Newsletter One with more news and less paper!!!! Hopefully you find the new look and feel refreshing, easy to read, informative, and just kinda nice to flip through. Please let me know your thoughts and any feedback you might have to make the newsletter better suite your needs. The editorial team has worked very hard to put the concept together and the result is a fantastic newsletter that's full of what is happening around us in Tesco. I would also like to put out a call for short articles, thought pieces, point-counterpoint articles, etc. to be included in upcoming issues. I'd like to make the newsletter more informative and something worth looking forward to. If you have any ideas, please pass them along. Enjoy the read, and if you pass by one of the editorial team members, do stop to say Thank you. - Amit Soni

1 2
3

The One : Philip :

6 7 8 9

The One :

Philip :

The One :
The One : What would be your ideal Tesco

Philip :

11 12

The One :

Philip :

The One : Philip :

desert-island dish?

Philip : (Dont tell anyone) Tesco two custard slices. The One : Philip :

The One :

Philip :

4
5

The One :

Philip :

The One : Philip :

minutes

The One :

Philip :

10

The One :

Philip :

Our CEO answers THE ONE Newspapers quick fire questions

Philip Clarke

with...

2 Newsletter
HSC FINANCE

Christmas in July
See a sneak preview of what we have planned for Christmas 2012 Part 1
I know it is the middle of what is meant to be summer, but across the business we have been busy planning our ranges for Christmas for months to make sure we give our customers the very best offer this year. And just last week we unveiled our ranges at 'Christmas in July,' an event which showcases our most innovative products to journalists and teams from around the business. It was great to see Christmas brought to life with toys, food and gifts all on display. And now you can have a sneak preview of what we think will be popular for Christmas 2012. The film is in two parts, starting with our 'top toys'. Watch the video and look out for the second part. Neela Mukherjee UK General Merchandise Director

Part 2
Great quality food is at the heart of our business, so although its only July we have been busy planning for Christmas making sure we provide our customers with a fantastic range of food to make their Christmas extra special. From ready-dressed turkey, to Grocer Award winning smoked salmon to Everyday Value Christmas cake, weve got it covered for all our customers, however they choose to celebrate this year. To see for yourself what we have planned, watch the second part of our recent Christmas in July event video aside. Andrew Yaxley Commercial Director

The latest

Market Share Data

You may be familiar with Kantar data which looks at our performance compared to the market, the media often uses this measure to compare our performance against our competitors. The data is based on a panel of 30,000 consumers who provide information about the products they are buying by scanning the items and submitting their till receipts when they get home. The latest data was released this week and for our Grocery business it is an encouraging indicator that we're getting back to a winning position - ahead of Sainsbury's and Morrisons, and closing the gap with Asda. We're working hard to Build a Better Tesco in the UK and this should give us confidence in our plans as we improve our business for our customers. Thank you for your hard work and continued effort. David Hobbs UK Operations Strategy and Business Planning Director

3 Newsletter
HSC FINANCE

Clicks and Bricks

Were launching the UKs

First Virtual Store at Gatwick Airport

With the summer break upon us, Im excited to let you know about our latest innovation to ensure busy holiday makers can come home to a full fridge. This is part of our Clicks and Bricks plan. Building on our virtual store in Korea last year, today were launching the UKs first interactive virtual grocery store in Gatwicks North Terminal. It will be open during the two busiest weeks of the year, until 19 August. The virtual store is made up of interactive digital displays on large virtual fridges. The average passenger has more than an hour of down time while they wait for flights. Now they can use this time to browse a range of everyday products, shop, book a home delivery for when they get home so its very convenient. Customers use the Tesco app to scan the barcodes of the products they want with their smartphone and then add items to their basket, book a delivery slot and checkout. You can book a delivery slot up to three weeks in advance. The virtual store at Gatwick is a trial and were looking forward to hearing what customers make of the technology. As a modern and innovative company were always looking for new ways to help our customers shop with us anywhere, any time and any how. Our interactive fridges provide a fun and practical solution for busy families while also helping to make shopping one less thing to worry about before going away. Keep an eye out for our video showing you the virtual store later this week, and if youre flying from Gatwick over the next two weeks, make sure you go and have a look!

Were Building a Better Tesco

See whats happening in

OUR VIRTUAL STORE
Our new virtual store opened in Gatwick Airports North Terminal yesterday, and so far were seeing lots of excitement around it from passengers and the media. Around 30,000 people depart from the terminal each day and the average passenger has more than an hour of down time while they wait for flights. They can now use this time to visit our virtual store and use their smartphone to buy products so they come home from holiday to a full fridge. They can browse a range of everyday products, shop, and book a home delivery for when they get home so its very convenient. Our two week trial is a way to see how customers respond to the technology and is a great opportunity to show what we can offer. Click here to see a film showing our exciting new virtual store... Ken Towle Internet Retailing Director

4 Newsletter
HSC FINANCE

Mortgages
launch today
Today we have launched Tesco Bank Mortgages in the UK.

Bank

Typically, the biggest financial commitment anyone will make is buying their own home, so Im delighted we are now able to add mortgages to our strong core of banking products. Tesco Bank Mortgages have been designed to meet the needs of Tesco customers. They combine great rates and competitive fees, and are delivered in a modern and convenient way. They also uniquely reward our customers loyalty through Clubcard points for repayments a simple thank you for choosing Tesco Bank. You can find out more information on Tesco Bank mortgages by clicking here to watch the video.

2010

2012

1997

2011

Why not take a look for yourselves at the mortgages we offer and let your friends and family know too. We have products for those buying a new home and for re-mortgaging, and offer a choice of fixed rate or variable rates. Feel free to drop me an email and let me know what you think. The media widely reported the launch of Tesco Bank Mortgages over the weekend, and I was pleased to read the coverage welcoming our entry into the mortgage market. There was some commentary about the interest rates we are offering. On this I am clear; we begin as we intend to continue offering good prices, straightforward products and transparent fees. Todays announcement is a sign of further progress for Tesco Bank in what has been a key year for us. In May, we completed the transfer of the remaining customers from RBS systems to our own. The task of building Tesco Bank has been a monumental one. Todays launch is a landmark moment and underlines our determination to serve more Tesco customers in more ways now and for generations to come. Finally, I would like to thank everyone involved at Tesco Bank, and those in the wider Tesco group who have given us terrific support, for their collaborative efforts which have allowed us to offer a great range of mortgages to Tesco customers.

Benny Higgins Tesco Bank Chief Executive

5 Newsletter
HSC FINANCE

Spot Light of the Month

- Controls & Compliance

FINANCIAL CONTROL IS OUR No.1 PRIORITY

The finance are working on completing series of self assessments and this has helped us introduce several key controls. Some of them are enlisted below: 1. Controls such as independent verification of supplier existence, tax ID & bank account details along with an independent maker-checker control have now been introduced in the Supplier set up process (Goods for resale). 2. Review and control over access rights on various finance systems is now in place (Goods for resale). 3. Phase-wise action plan is formulated to ensure supplier balances are confirmed annually (Goods for resale). 4. An exception report is now in place through an IT upgrade to track the tenants who have not been invoiced (Property finance). 5. Formal and approved debt collection policy is now in place (Property finance).

New Group Journal Policy

What impacts you:
1. All manual journals need to be approved ideally before posting to the General Ledger, by a WL2 or above 2. Review and approval of the Manual Journal Log (in new format) by a person other than the initial approver of the journal 3. Reconciliation between the Manual Journal Log and the System Journal Log is now required.

Other highlights:
1. All new allocation journals or changes to existing allocation journals to be approved by WL4 on an annual basis 2. New KPIs have been introduced to analyse number & type of journals through UK FLT B/S pack

Status of Self Assessment for UK & Ireland

Assessments Completed
Purchase and payables (Goods for resale) Mall revenue & receivables Commercial Income Store sales

Assessments Currently in Progress

Inventory and Cost of goods sold Purchase and Payables (Goods / services not for resale) Cash & Banking General Ledger Control Provisions & Contingent Liabilities/ Assets Intercompany

Did you know?

1. In Finance we reconcile nearly 4000 balance sheet accounts every period. 2. As part of 'Faster close' project, C&C now publishes the UK Trial Balance on Week 1 Friday which was earlier Week 2 Monday. 3. Self Assessment status board is displayed on the FS floors which is updated every week. 4. Group Journal policy training will shortly be available on an e-learning module.

Peer Review - An Introduction by Rajaganesh S. & Rashmi R.

As part of our plan to strengthen financial control at HSC, we have launched peer review and co-signing of balance sheets from period 5. a) Peer review relates to review of critical balance sheet accounts by a WL2 outside the team to enable fresh pair of eyes looking at the reconciliation in a collaborative manner. b) Co-signing of balance sheet accounts is a model where there is a joint accountability of Balance Sheet review on the account reviewer as well as the process owner. Example Accounts Payable liability account will now be reviewed and signed off by Balance reviewer as well as Accounts Payable manager. As per the plan for period 5, 25 accounts will be peer reviewed and 213 accounts will be co-signed. The output will be periodically reviewed and shared with UK FLT.

6 Newsletter
HSC FINANCE

Welcome on Board
Ajay
was previously working for Ernst & Young & has joined Cash Reports Team in Operations Finance. He has a great passion towards cricket.

Shreyas
joins us as an Analyst from Oracle to the C&C Team. He enjoys long drives on his bike & is keen on learning new things.

Vandana
joins us as an Accounts Executive from Capgemini into Property Finance & her all time favourite is music.

Dilip
joins us as an Accounts Executive from Airtel Enterprise Solution into Property Finance. He enjoys traveling, trekking & tasting different cuisines.

Vishal
joins us as an Accounts Executive from HP to Operations Finance Stock Accounting team and loves to play basketball.

Meena
joins us into SRS Business Support as an Accounts Executive from IBM. She holds interest in listening to music and theatre. She is a state level basket ball player.

Pramodh
joins us as an officer to Property Finance, a fresher from Manipal Institute of Mgt. His hobbies are playing cricket, listening to music & travelling.

joins us into Property Finance as an Accounts Executive from Accenture. He holds interest in listening to music and is a part of Samrudhi, performing plays(Skit).

Nischal

Pawan
joins us into US Finance as Senior Accounts Executive from Aditya Birla Minacs. He holds interest watching movies & playing cricket.

Govindraj
joins us into Accounts Payables as an Senior Officer from Accenture. He holds interest in listening to music, playing cricket, carrom and reading.

joins us into IT Finance as a Team Lead with previous experience from EXL Services Pvt Ltd. He holds interest in cooking, music, playing Table-Tennis Chess & Cricket.

Sulabh

joins us into C&C as a manager with previous experiences from Vividha Home Fashions, KPMG (Dubai) & Deloitte. She is passionate about running Marathons.

Rupali

Ramya
joins us as a Team Lead from IBM Daksh into India Tax and holds interests in cooking, reading and drawing.

Akshay
joins us as an Accounts Executive to Sales Ledger, a fresher from Seshadripuram College and holds interests in drawing & swimming.

Until July, we have on boarded employees externally into Finance. We welcome the above New Starters who joined us in the month of June & July & wish them a good future in Tesco.

42

7 Newsletter
HSC FINANCE

An Opportunity to Get On
Promotional Movements

In our endeavor to provide a good career to all, we have so far touched 34 employees this year (excluding the May promotion cycle). Please join us in wishing all the colleagues a very Good Luck for their new roles, who moved with Promotion / Lateral in the month of June & July.

Team Lead to Assistant Manager

Jentile will shortly be completing 7yrs in Tesco. He worked with Payroll & Benefits team in Business Services before he moved in Ireland Finance. He now moves to manage the Head Office Reporting with UK Commercial Finance. He has stabilized Ireland Payroll and Accounts Receivables processes. Very recently worked on the Control Framework Self Assessment for GSNFR. Enjoys traveling and spends maximum time with his family when he is not at work and is a fitness freak.

Jentile Bhutoria

Vikram Singh Process Lead to Team Lead

Joining Tesco in 2006 from Infosys, Vikram was involved in a successful knowledge transfer and process transitions He was also extensively involved in Due Diligence activity/Feasibility study for Payroll & HR processes and published feasibility reports for Central and Eastern European countries such as Hungary, Poland, Czech Republic and Slovak. He spends a considerable amount of time on social networking sites and has a good sense of humour & a fun person to hang out with.

Senior Accounts Executive to Process Lead

Worked on a big piece of work when a large issue arose within the fresh category. Successfully transitioned a vital Marketing role from UK to HSC in a span of 2 weeks. Provided detailed analysis on one of the biggest category BWS to the business which has helped to a great extend in avoiding over charges, double payments & TPNDs been set on NBS. She is known for having a smiling face all the time and enjoys pop music.

Karishma Amarlal

Rudresh Siddappa

Exclusively handled all the complex processing & analysis for the entire commercial accounting area, streamlined the retro process. Also handled process efficiently and closed process gaps. He loves traveling and visiting various places.

Accounts Executive to Senior Accounts Executive

Santhosh Basavaraju

has been one of the best team members of AP; he was called the batsman of the AP team as he would hit high numbers while processing invoices. Very dependable, great team player, very accommodating, a Go to person, very calm and composed, never cribs about work, always rearing to go. Timid by nature, but once you get talking to him, he will have you in splits. He writes poems, likes bike riding, likes playing cricket and likes to go on long rides.

8 Newsletter
HSC FINANCE

An Opportunity to Get On
has completed 2 years in which he has made significant progress in learning and meeting the stake holder expectations across Accounting and Reporting roles; also winning the confidence of Packaged Finance team in UK. He is Bright, Intelligent and Enthusiastic and has a passion to hit deadlines and defeat all barriers. He likes traveling and exploring new places.

Abhishek Pradeepkumar

has successfully completed 2 years in which she has made significant progress in learning and meeting the stake holder expectations across Accounting and Reporting roles; also winning the confidence of General Merchandise Finance team in UK. She is positive, very willing, independent and proactive in whatever she does. She is a trained Kathak Dancer, reading and cooking are her best hobbies.

Ramya Aswath

Pavan Kashyap
His work approach and analytical skills were recognized and appreciated by Stakeholders in FA review calls. He has been instrumental in ensuring FA to GCS reconciliations are delivered to stake holders expectation and ahead of deadline. His quick and organized process learning is much appreciated. His interest include Travelling and Playing snooker.

is a quick learner and has an excellent commitment towards work. She took up additional projects along with her usual work. She was involved in re-designing the reports to suit customer's requirements. She likes organizing team activities and is an active member of the Ops Fin fun committee.

Anisha Lawrence

Swetha Sundar

joined Tesco in May 2010 since then worked with the AP team. A Commerce graduate from Christ College. Her hobbies include Dancing and listening to Music. She is a good performer and has received many appreciations for handling difficult situations in her process.

has done an outstanding job on Accounts Receivable Period close activity in the absence of AR process owner. He is very flexible in adapting to new roles and responsibilities. He has learnt both AR and GL activities in a short span of time, switches between rolls very fluently. Never hesitates to help. His hobbies are watching movies on First day first show and Playing cricket on weekends.

Someshwar Rao P

9 Newsletter
HSC FINANCE

An Opportunity to Get On
Deepak Salaria Assistant Manager
Accounts Executive

Lateral Movements

Joined Tesco in May,2011 with Finance Services as Assistant Manager for Stock accounting, Central Europe. He is a Commerce Graduate with IFRS certs.Hobbies includes photography, cooking, travelling, watching informative channels (Dicovery, history etc) and likes making friends. He now moves as Assistant Manager in US Finance.

Joined Tesco in Dec 2008 with Business services as Officer Written Correspondence. He is a Commerce Graduate and his hobbies include reading for personal enrichment, besides Swimming. He is kind at heart and helpful. He has now joined Sale Ledger Team in Commercial Finance.

Abdul Samad

Charu Tak Senior Accounts Executive

Joined Tesco in Aug, 2009 with Financial services in Ops finance team as Accounts Executive in Lottery Process. B.COM(HONS.) graduate with MBA in finance. Her hobbies includes watching Tv and dancing. Very cheerful and loved by all. She now moves into Operations Finance - Reporting team to look at Immature Capital & Pre-opening Reporting.

Process Lead

Completing 4 yrs in Tesco, Shiva has handeled F&E project and successfully implemented NO PO NO PAY project across all departments. One of the major achievements was implementing Dataloader for Purchase order processing. Hobbies are having lots of fun with friends, loves travelling and listening to light music. He has now moved to Central Europe Finance team to manage invoice matching process for Turkey.

Shiva Balakrishnan

joined Tesco almost 5 years back and was working as a Deployment Analyst in IT until a year back when he moved into Finance. In the last one year, despite coming from a nonFinance background has done a great job in leading Pharmacy Project and supporting the Faster Close project and working with Philip Bens in UK. After completing both these projects successfully, Vinit now moves into a new role into Group Commercial as Group Insight Manager.

Vineet Vishal Manager

Accounts Executive

Nayana Chirbhi

Joined Tesco in Oct 2010 with Business services as a payroll officer. A Commerce Graduate with an MBA and also CWA Inter. Hobbies include reading comics and browsing. She likes to make new friends and always has a smile. She has moved into Dotcom reporting team.

10 Newsletter
HSC FINANCE

An Opportunity to Get On
Arun Kumar G Assistant Manager
Completing 4.9yrs in Tesco, Arun provided key solutions to the post transition challenges of Sales ledger and Commercial Accounting process. He played key role in strengthening the Balance Sheet Reconciliations and adherence of C&C best practices he Served as Oracle AR champion and was part of New Buying System project and won a team award for Cross-functional team in 2009 and Best Team of the quarter in June 2011 as a part of Indirect tax team. Also gained appreciation from Uk stakeholders for reengineering the process and accurate indirect tax payments. His hobbies include watching movies, reading books and listening to music and has talent to impersonate people. He now moves into Group Commercial Finance Team.

Manager

Samrat Chakraborty

Samrat joined Tesco in May 2011 and came with a rich experience of Accounts Payable process to lead and manage Tesco Banks AP process. Under his expertise and leadership, the processes have been stabilised in Tesco Bank and now he is moving laterally into Group Commercial Finance to manage Tesco Internal Sourcing project.

Saugat Sarkar Assistant Manager

Completing 2yrs & 9months in Tesco, Saugath has stablised Ireland Reporting processes and strong second line leadership. Created and launched the Store Profit report for Ireland. He enjoys music and likes playing instruments. His Team is his biggest strength. He nowo moves to Group Commercial Finance Team.

Team Lead

Anikendra Bhattacharya

Anikendra joined Treasury team approx 2 years ago from Yle Services (an equity research company). At Treasury he was mainly responsible for the Group Cash & Debt reporting, Working capital funding to international countries, helping UK with base calculations to monitor Tesco credit ratings. He has moved to a role of Central Reporting in Group Commercial Finance Team.

Ranjith Prabhakaran Manager

Completing 6yrs in Tesco, Ranjith Has established the Query Management teams within HSC and was instrumental in transition of key processes from UK. He not only managed operations in the CIP team but also contributed significantly to some key initiatives of establishing a Supplier Satisfaction framework and improving the First Time Match rate. He also played a key role in implementing the first Group Control Framework assessment for Goods for Resale.

11 Newsletter
HSC FINANCE

Monsoon Outing...
15th Ju GL Controlle e c n a in F r l ne, MA ia Commerc NGO M ship g in rt o p e I R ST, Ban & Accounting galore Bangalore , s rt o s e R IM L E , 2 ly 201

26th Ju

Stock & S 21st June RS Team - OPS F in , EAGLE EYE, Chik ance magalur

S Finance orting - OP p e R & n o ti alur tribu E, Chikmag Y Primary Dis E E L G A E 19th July,

Ireland Finance A LE PALMS, Goa 16th June, VARC

Teleco ms, GM 20th Ju O, Grocery On ly, COF FEE G line - Retailin UDDA, Chikm g Services agalur

12 Newsletter
HSC FINANCE

Community
This year we plan on focussing more on volunteer based activities along with fund raising activities we had last year.

The first activity was held on 30 June 2012, wherein we visited a school in Bommanahalli and was organized by an NGO named Dream a Dream. The day stated with a lunch with students of 9th grade followed by some games. The main activity for the day was Colour-A-T; in which each of us had a team of 3 kids and then we helped the kids paint their dreams on a tee-shirt. We were presented some wonderful hand painted tee-shirts by the kids and we have plans around that which will be communicated shortly!!!

th

13 Newsletter
HSC FINANCE

The

Crew Vasanth
Nithin sampada
Lakshmikanth

mayur anula arun Bhavika leonard