SGE Credit Union finds success with TechnologyOne's OneBanking

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

The solution is designed to help credit unions and banks meet operational challenges including reporting, cost management, resourcing, asset management and stakeholder engagement.

SGE realised the benefits a mere three months after implementing the TechnologyOne solution with embedded Financials, Asset Management, Supply Chain and Enterprise Budgeting modules.

SGE decided to install OneBanking as its incumbent system was outdated and not able meet the demands of the growing organisation, explained SGE Chief Financial Officer Angus McBean.

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

"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," he said.

OneBanking helped provide SGE with better control over the way it captures 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," said Mr McBean.

"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," he said.

The software's capabilities can be easily adapted over the long term to meet organic and non-organic growth.

"That sort of flexibility is truly invaluable to our operations," Mr McBean said.

TechnologyOne executive chairman Adrian Di Marco said the importance of well-developed information management systems within the banking and finance sector is 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," Mr Di Marco said.

*Update as at 01/12/2014: SGE Credit Union changed their name to G&C Mutual Bank