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SGE Credit Union (SGE) says it has achieved enormous efficiency and productivity gains, improved data management and faster reporting after implementing TechnologyOne’s OneBanking solution.

SGE Chief Financial Officer Angus McBean said the benefits of the OneBanking deployment had been realized “a mere three months,” after implementing the TechnologyOne solution with embedded Financials, Asset Management, Supply Chain and Enterprise Budgeting modules.

McBean said SGE decided to install OneBanking as its incumbent system was outdated and not able meet the demands of the growing organisation.

“What we really needed was a solution that would provide better reporting, improve our practices and make SGE more productive.

“TechnologyOne had a proven track record in delivering solutions to the mutual sector while offering value for money, the ability to integrate with the core banking system, and the capability to deliver APRA reporting – basically everything we were looking for.”

According to McBean, OneBanking helped provide SGE with better control over the way it captured data, which led to improved segregation of duty, making the workforce more productive.

“Our reporting is streamlined, not only is the data more accurate, but our productivity has dramatically increased,” McBean said.

“OneBanking has reduced duplication and allows greater visibility over the fixed asset holdings so the asset life cycle is managed more effectively, making planning for the replacement of assets over the years far easier. Having better cost transparency across the entire business has solved the problem of having information reside in disparate systems.”

TechnologyOne Executive Chairman Adrian Di Marco said the importance of well-developed information management systems within the banking and finance sector was a key factor that must be taken into consideration.

“TechnologyOne understands that credit unions need responsive, flexible and integrated information management systems for the dynamic reporting and financial management demands of today’s banking sector.”

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Peter Dinham

 

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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