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Connexus : Issue 38
Community alliance Credit Union (CaCU) operates with a number of brands as the result of mergers between Illawarra Credit Union, Unicom Credit Union, Western City Credit Union and Shoalhaven Community Credit Union. It has approximately 32,000 members, more than $450 million in assets, operates 26 aTMs and nine branches between Now ra and Campbelltow n in Sydney’s south, and employs approxi- mately 100 people. Behind the scenes, a highly experienced team manages the credit union’s operations, w ith a focus on efficiency and innovation. The Challenge With four different brands, the CaCU leadership team was looking for ways to most efficiently manage each credit union within its corporate structure. CaCU wanted a more cost and time-efficient way of performing simple finance functions such as bank reconciliations, accounts payable, budgeting, and being able to determine monthly profitability of each brand, branch and aTM. This would prov ide the tools to make smarter strategic business decisions, allocate resources efficiently, and spend marketing dollars where they were most effective. Other challenges included the need to manage budgets more tightly and to grow the business continually in a highly competitive environment. TechnologyOne helps credit unions manage budgets and make smarter business decisions The Solution In 2009, CaCU implemented TechnologyOne Enterprise Budgeting and Business ETl (Extract, Transform, load), including embedded Business Intelligence (BI) portlets to facilitate easy analysis and provide greater insight into its retail operations. as a result, benefits in areas such as cost reduction, risk management, and cultural change have flowed through the entire company, making for a more disciplined organisation where control is the key word. multiple sources before transforming it for easy access to business information for decision-making. Data is presented in plain business language so that users no longer need to know SQl in order to get meaningful data out of the systems. according to CaCU’s Systems accountant, adam Struthers, this is evolving into a great resource for the credit union with ever increasing automation and data visibility. Benefits When TechnologyOne Financials was first implemented in 1998, there were 14 staff in the Finance department. Today, the business has almost doubled from $265 million to more than $450 million in assets, and yet the finance team has halved, with only seven staff from the executive manager down to a cadet accountant. This is a direct result of automation the TechnologyOne software has delivered. reduced resources in a finance team means that organisations can focus resources where they are most profitable. Mr Struthers credits TechnologyOne’s devolved business solutions as being “the catalyst to help drive organisational change and foster buy-in to the strategic plan. The software engages staff at all levels, with everyone from the frontline to the CEO. Our overheads have been reduced, we’re more efficient, and we’re better equipped to compete against larger competitors.” For more information on TechnologyOne, visit TechnologyOneCorp.com SPONSORED TECHNOlOgY fEATuRE Community Alliance Credit Union Further enhancing the return on investment, the Enterprise Budgeting and BI capabilities fully integrate w ith CaCU’s existing TechnologyOne Financials and Human resource & Pay roll solutions. The credit union has taken particular advantage of TechnologyOne’s Business ETl and XlOne reporting modules. Business ETl is an intuitive yet sophisticated toolset aimed at business users and brings together data from “As a result, benefits in areas such as cost reduction, risk management, and cultural change have flowed through the entire company...” Connexus 37 37