G&C Mutual

Moving to SaaS has enabled G&C Mutual to eliminate a range of security, reliability, and manual processing challenges.

Case study highlights

  • Increased operational efficiency
  • Freed up IT operational support people
  • Redeployed resources into other areas

Challenge

Established in 1959, G&C Mutual Bank Limited is one of Australia’s strongest member-owned financial institutions.

As the top performing mutual for cost to income ratio, it’s critical the bank manages its finances effectively.

“Like everyone in the industry, we need to cut a delicate balance on interest rates. We want to offer low rates for borrowers without harming the return for depositors,” said David Chapman, Chief Information Officer at G&C Mutual.

G&C Mutual was using an older version of TechnologyOne’s software, meaning it wasn’t utilising the latest capabilities on offer. The software was also cloud hosted by a third-party Managed Service Provider (MSP) on Windows Server 7, which was reaching end of life.

“Our finance team was really happy with the TechnologyOne solution. However, we weren’t benefiting from the latest features and functions on offer. To upgrade this with our existing MSP was going to be complex, costly and prone to error,” Chapman said.

Solution

Recognising the opportunity to upgrade to a contemporary platform, G&C Mutual considered several options before deciding to move to TechnologyOne’s Software as a Service (SaaS) platform.

“There were a number of drivers behind our move to TechnologyOne SaaS. The desire to lower costs was obviously one of them, including the operational overhead involved in managing our existing solution ourselves,” Chapman said.

“At the end of the day, the cost of moving to TechnologyOne SaaS was cheaper.

“We want all our members to get the best deal possible, so if we can keep our costs down, we can keep delivering great products and services.”

Outcome

Since transitioning its software from a cloud-hosted environment to TechnologyOne’s SaaS platform, G&C Mutual now has the ability to adopt the latest software quickly and easily with minimal business impact.

“It’s far more effective from an operational efficiency point of view, because we get access to automatic upgrades, benefit from regular patch management and receive ongoing support,” Chapman said.

“We can ring TechnologyOne and get the problem fixed. It’s much easier than trying to coordinate and fix a problem between TechnologyOne and our Managed Service Provider.”

With less time spent on operational IT support, G&C Mutual is now redeploying these resources into other areas of its organisation.

“It’s freed up our IT operational support people to do other things, because TechnologyOne manages the environment for us,” Chapman said.

“The implementation has introduced business process automation that wasn’t possible before.

“The benefits we’ve experienced have come a lot faster than we initially thought, and are far more effective than we believed they would be. It’s been a win-win all around.”

Chief Information Officer
G&C Mutual

At the end of the day, the cost of moving to TechnologyOne SaaS was cheaper.

Perspective

Going from dated software to the latest software has simplified the way G&C Mutual operates and resulted in some fantastic feedback from its workforce.

“Our Finance Manager came into my office after we went live with TechnologyOne SaaS and had two messages: that this was the best implementation of any software he’s ever experienced; and that his team were loving using the new interface,” Chapman said.

“The process was smooth, straightforward and worked perfectly post migration.There was also no delay or latency in the response to the system - it worked just as well as it did in the other environment but it’s far more functional.”

Chapman added: “We’ve actually derived some benefits we didn’t expect, so it’s exceeded our expectations in that respect.”

Spotlight

Moving to SaaS has enabled G&C Mutual to eliminate a range of security, reliability, and manual processing challenges.

“An assessment of our previous MSP environment resulted in a lot of red flags,” Chapman said.

“In a world of hackers and cyber security, we needed to make a change and moving to SaaS has erased all of these issues for us.”

TechnologyOne’s state-of-the-art SaaS platform delivers enterprise software in a high-performing, secure manner. Redundancy is built into its infrastructure at every level, ensuring customers like G&C Mutual don’t have to worry about running or updating their software in other environments.

“Moving to SaaS has certainly simplified the upgrade process,” Chapman said.

Because TechnologyOne manages G&C Mutual’s software, delivered as a service, the organisation can now innovate and adopt new technologies faster, and focus on delivering great products and services to its customers.

“We no longer have to manage the assembly of IT support people. We no longer have to implement patches. And we can see that system and data security is taken just as seriously by TechnologyOne as we take it ourselves,” Chapman said.

“When everything is current and accessible in one platform, it doesn’t enable transformation but it does make it easier.”

Chapman added: “My advice to other CIOs is to certainly make the move. We’ve seen advantages that have exceeded our expectations in pretty much all respects. It’s been a major bonus for our IT team and the business.”

“The other piece of advice I’d give is to have a roadmap across your organisation, because TechnologyOne isn’t the only piece of the puzzle. There’s a lot of moving parts and they all need to be coordinated.”

About G&C Mutual Bank

Established in 1959 as the Public Works Department Staff Cooperative, G&C Mutual Bank Limited has since grown to be one of Australia’s strongest member-owned financial institutions.

G&C Mutual website

Publish date

19 Dec 2019

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