Tasracing

Shifting from spreadsheets to an enterprise SaaS solution has helped Tasracing become a more dynamic and data-driven company.

Case study highlights

  • Improved data accuracy with a single source of truth
  • Enabled prize money payments with a custom integration
  • Empowered leaders with real-time finance dashboards

The challenge

Tasracing is a state-owned company that provides strategic direction and funding to the racing industry in Tasmania across its three codes—thoroughbred, harness, and greyhound racing.

The company develops Tasmanian racing to ensure its commercial viability, including sharing data on racing form, payment of stakes, funding clubs, managing venues and tracks, and promoting race days and carnivals.
Tasracing’s suite of outdated business systems was making it hard for the company to trust and use its data, according to Finance Manager Andrew Clark.

“We had poor reporting, mostly based on spreadsheets. A lot of our systems were quite ineffective, which posed the risk that we’d have incorrect information flowing through,” Clark said.

“Tasracing has widely dispersed assets across the state. Managing those assets is important to us and it was becoming difficult to do so through the old system and an asset register in spreadsheets—so we needed to address that.”

The company’s legacy financial management software did not support timely reporting or budget management.
“We were relying on information that was almost a couple of weeks old by the time we could get reports out to our managers to review,” Clark said.

He said streamlining operational systems was key to being data-driven and creating a competitive advantage for Tasmania’s racing products in the global market.

“We wanted to consolidate everything into one ERP solution at the end of the day. Getting all of our data in one place, for the whole business to use, is really important.”

Solution

Tasracing implemented TechnologyOne’s OneCorporate Software as a Service (SaaS) solution in 2017 after a comprehensive competitive tender process.

Andrew Clark said that TechnologyOne’s fit-for-purpose ERP solution, focus on asset management, and strong market presence all influenced the company’s selection.

“The fact that we know many councils and government agencies that use TechnologyOne in Tassie, and that we're able to bounce ideas off those people gave us confidence,” Clark said.

TechnologyOne also presented the most effective solution to support how Tasracing pays out prize money, by integrating multiple external data sources.

"That was a custom piece of work that we needed, because our stakes system pulls data from other systems and data from outside of our organisation. It is one of our key business processes that we needed to get a pretty good handle on straight away.”

Tasracing has implemented TechnologyOne’s Financials, Supply Chain Management, Enterprise Asset Management, and Corporate Performance Management products. It also plans to rollout HR shortly.

Outcome

Replacing ageing systems with TechnologyOne’s integrated and easy-to-use ERP solution has allowed Tasracing to make significant efficiency and productivity gains.

“We’re able to access all of our information from the one platform. Whether it’s assets, contracts, accounts payable or accounts receivable—it’s all in the same place. That's made a huge difference for us, especially coming from a paper-based background,” Clark said.

“Asset management has hugely improved because we have reliable information.”

TechnologyOne’s SaaS platform is used by more than 80 employees across Tasracing’s eight core business areas, which includes back-office teams and people in the field statewide.

Simplified manual tasks and real-time reporting has resulted in time savings, better cost management, and clear-headed business decisions.

“One of the main improvements has been to our purchasing side of things. Before, you’d have to put a piece of paper in a tray for it to be physically signed, so workflow approvals are a lot stronger and more streamlined now,” Clark said.

“Just the fact that employees can self-serve has been a real benefit, particularly for our managers who are managing their own budgets.

“They're able to check where they're at, practically live now, whereas in the past we've had some issues with cost blow outs because their budget information wasn’t quite up-to-date or weeks behind.

“We estimate our senior managers are saving at least two hours a week, across the eight teams—a pretty significant saving of time. That allows us to direct our time into improving the racing industry rather than doing administrative tasks.”

Mobile processes have been readily embraced across Tasracing.

“Our workforce is based all over the state, and they're all working different hours—TechnologyOne’s SaaS solution allows us to respond to issues as we need to.

“You can access and approve things on your phone or tablet, you don't have to be in the office at your computer. It’s so much more flexible.

“Supply Chain Management is used by a range of different staff, from office staff to guys that work out on the track, and looking after the grounds. It seems to be pretty intuitive for them, so we've been really happy with that.”

Clark said the company’s finance function has become more productive and proactive.

“Compared to our clunky old system that we had, it's so much better and is leading us away from spreadsheets and a reactive approach.

“We’ve actually had time to spend on forecasting and other important things as key business processes and regular month-end tasks can be automated.

“It’s sharpened up our reporting, which has made making some decisions so much quicker and easier. We’ve got far more reliable information now and we can customise our reports easily to make a decision based on where we need to be.”

Moving to remote working at the height of the coronavirus pandemic was easy for Tasracing. In fact, TechnologyOne’s SaaS platform enabled the company to ramp up industry support as racing in Tasmania was shut down for 10 weeks due to COVID-19.

“System-wise there was really no difference for us: we were able to continue on business as usual.

“During that time, we made an extra 22,000 payments on top of what we ordinarily would do, as industry support, to keep the horses and dogs in work and healthy and ready to resume racing as soon as possible. Without TechnologyOne there's just no way we could've done that previously,” Clark said.

Finance Manager
Tasracing

We’re able to access all of our information from the one platform. Whether it’s assets, contracts, accounts payable or accounts receivable—it’s all in the same place.

Tasracing's perspective

Tasracing implemented its new SaaS ERP solution gradually, working closely with TechnologyOne to determine an approach that addressed the company’s needs and timelines.

“We had a dedicated project team in-house and then the TechnologyOne team spent a lot of time on-site and took a hands-on role in helping us get things up and running,” Clark said.

“We did the vast majority of the product testing ourselves, especially the user testing.”

Partnering with TechnologyOne to purchase, implement and support its solution helped Tasracing to seamlessly transition.

“After go-live we didn't have many teething problems at all really, so I think that’s good considering that it was a big change for us.

“We thought some things would fall over as we started to use the system for real—things that hadn’t been considered during testing—but there were no showstopper moments.”

Tasracing also appreciates the fact that, because its SaaS platform is managed by TechnologyOne, it receives upgrades consistently and reliably.

“With our previous systems, we didn't have any upgrades for a long time, so it got to the point where it was way out of date. That’s one of the main reasons we moved to the cloud.”

Clark’s advice for companies planning a similar switch to an enterprise SaaS solution was to review processes first and apply technology in ways that empower humans.

“You need to critically have a look at your current processes and think about how you could improve them and what solutions are out there,” he said.

“Try to creatively consider how you can solve mundane time-consuming processes, to free up your team’s time for more important business problems that you might have. We've found so far that TechnologyOne has helped us do that.”

Spotlight on Financials

Tasracing’s desire to improve its finance workflows and reporting meant that TechnologyOne’s Financials product was implemented early and leveraged fully to transform the company’s processes.

“It’s working well and we are always improving bits and pieces as we go, and finding new features,” Clark said.

“Personally, I'm really liking the reporting side of things, compared to what we had before. Practically all of our monthly board financial reports are coming out of the TechnologyOne system.

“It saves us lots of time compared to the old, manual spreadsheets that we once used. It’s a huge benefit to be able to manage financials in the cloud and on any device.

“We’re able to make adjustments to reports on the fly, add items, and take items out as needed—now it’s not a huge deal for us to change a report or create a new report.”

Analytical dashboards in TechnologyOne’s Financials product have improved visibility and the speed of decision-making within Tasracing.

“Managers can drill down into financial data by themselves, which saves the finance team a lot of time.

“We're able to get information out there, practically live, to our senior management team. Our leaders are keeping a lot closer eye on their spending and have more reliable information to improve management decisions.”

TechnologyOne’s powerful and flexible Financials capabilities enables Tasracing to effectively process and distribute around $24 million in prize money annually.

“Our race results are imported into the TechnologyOne system and the payment files are then generated so that we’re able to quickly pay out prize money to participants across all three codes.”

About Tasracing

Tasracing is a state-owned company that provides strategic direction and funding to the racing industry in Tasmania across its three codes—thoroughbred, harness, and greyhound racing.

Tasracing website

Publish date

06 Jul 2021

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