Gregorys Transport is one of the largest privately owned transport and logistics companies in Australia with a fleet of over 300 vehicles operating across four states.
Key to Gregorys success is the analysis and understanding of the performance of their transport contracts. Being able to report quickly and effectively at the level needed to understand business performance is vital.
Part of the challenge Gregorys faced was the fluid nature of assigning vehicles to contracts, reporting relationships which changed on a monthly basis and the fact this was originally monitored and reported on from data stored in spreadsheets.
Account codes broken into multiple segments, an issue prevalent in many accounting systems, resulted in monthly financial reports taking over half a day to run.
Moving reporting into the future with BOARD
After implementing BOARD, reporting times were instantly reduced. The CFO now receives the whole reporting pack within 3 minutes significantly saving time and resources. However it is the ability to analyse and drill into the figures instead of relying on static Excel based reports that has provided the real benefit to Gregorys.
In addition to dramatically faster reporting, Gregorys also went from monthly to weekly reporting. This allows earlier identification of cost variances, faster and more improved decision making and closer cash management.
These outcomes were achieved in just 5 days with BOARD, with no programming and coding or use of Excel spreadsheets.
BOARD is integrated directly into Gregorys financial and operational systems allowing Administration staff to load source data or carry out report maintenance activities in the front end of the product without any IT assistance.
As part of the solution, Professional Advantage built extra mapping on top of the data obtained from the financial and operational systems. This added the transport contract and the related division information that was missing from their current financial system.
Gregorys now have a formatted report pack to their specifications which can be run at any time in the month with the most up to date data. Reports are then automatically distributed by email to each of the transport contract managers.
Although the initial challenge and objective for Gregorys was to improve financial reporting, Simon Peake, the CFO, has identified future opportunities for using BOARD for budgeting. A big advantage of BOARD is that within the same single interface, reporting, budgeting, forecasting and business intelligence requirements are all achievable. In fact, as the reporting is now structured at the level where the business measures performance, the use of BOARD in other areas such as budgeting and forecasting is very simple. Avoiding the use of multiple applications, BOARD provides a single platform and technology seamlessly linking the measurement of performance management across the business.
"I am delighted by the outcomes from this project. We have solved a major issue in our business. This is a tool we can run and administer ourselves. The consultant was able to very quickly build a working proof of concept for us making selecting BOARD an easy decision."
Simon Peeke, Chief Financial Officer, Gregorys Transport.