Queenslanders Credit Union has experienced steady growth for a number of years. This growth and an ever increasing regulatory environment had highlighted several key deficiencies in the back office functions of FCS, Queenslanders banking and accounting system.
FCS was developed largely for credit unions and building societies, to meet banking and accounting requirements. While its front office banking capabilities are strong, its back office functionality meant the finance team had to apply significant effort to meet management & statutory (APRA) reporting requirements. Furthermore, Queenslanders were looking to gain efficiency through automating business processes, to reduce administrative overheads, and the risk of error and fraud.
For Queenslanders to continue its growth, it had to implement a back office platform which would allow for efficient processing, meet compliance requirements and offer management appropriate and effective reporting which could provide insight into the business.
Two of the key criteria for the selection of the new system were that it would seamlessly integrate with the banking system and that the partner selected has experience in delivering these types of solutions.
Evaluation and System selection
Queenslanders Project Manager, Lorelle Turner, worked closely with Bruce Miller (CFO) to manage the evaluation and selection of the new system through the following stages:
- Review and documentation of requirements
- Review of responses from potential partners
- Determination of partner shortlist for demonstrations
- Systems evaluation through solution demonstrations
- Clarification of key concepts and the investment required
- Notification of intention to proceed to the successful partner
Infor FMS SunSystems was selected over other offerings due to its ease of use, broad feature set, and powerful reporting capabilities. Industry experience and satisfied reference sites were also important factors in the decision.
"Our implementation of Infor FMS SunSystems has enabled us to standardise processes and improve security over data, through the comprehensive security functions. We are no longer reliant on rules residing in the "minds" of one or two staff, as the rules are configured within Infor FMS SunSystems. This dramatically reduces the risk associated with keying errors, and interpretation errors that are associated with loss of knowledge through staff turnover." Bruce Miller Queenslanders Chief Financial Officer
Solution and Implementation
Professional Advantage worked with Queenslanders to develop a project approach which took into account the availability of Queenslanders resources and busy periods. Professional Advantage then managed the project, providing appropriate and experienced consultants through all phases of the project.
"After evaluating options we selected Infor FMS SunSystems due to its ease of use and broad feature set. The reporting tools available are particularly powerful and it is great that we can write and modify our own reports to suit our changing needs and regulations."Lorelle Turner Queenslanders Project Manager
Some of the key benefits arising from the project
- Queenslanders now have the tools to develop and manage their own reports. This means any information required can be quickly accessed. Furthermore, information can be viewed from different perspectives with full drill down to the individual transactions for further clarity.
- Many manual processes such as journal uploads, reversals, payments etc, have now been automated saving time and reducing the chance of error or fraud.
- Compliance improvements were delivered in the form of increased data integrity and audit capabilities. Infor FMS SunSystems offers business rules that can be set to ensure only valid data is entered and to initiate the next step of a business process in line with corporate policies.
Infor FMS SunSystems has delivered many improvements for Queenslanders in terms of efficiency, controls, and the ability to facilitate improved decision making. Professional Advantage and Queenslanders continue to work as partnering organisations, rather than in a traditional supplier - customer relationship.
"PA has been a great partner throughout the implementation process and provided highly capable consultants with a depth of experience and knowledge that was invaluable. They were able to offer both business and software related advice, adding value to the implementation through offering practical solutions" said Lorelle Turner, Queenslanders Project Manager.