Regional Investment Corporation
Eliminating time-consuming manual processes and adopting TechnologyOne’s Human Resources & Payroll and Finance products has enabled the Regional Investment Corporation to digitally transform, creating more efficient operations and improving employee experience.
The Regional Investment Corporation (RIC) is a government-backed specialist finance provider for Australian farmers and farm-related small businesses.
Their loan programs encourage the long-term strength, resilience and profitability of Australian the Australian agricultural economy. Headquartered in the regional centre of Orange, New South Wales, RIC has delivered more than 2900 loans valued at over $3.17 billion as at 31 July 2023.
While strengthening Australian agriculture, RIC was seeking to transform systems and processes to better support employees to drive positive outcomes. The paper forms, emails, and spreadsheets which had helped the organisation get up and running quickly a few years earlier needed to evolve.
With approximately 68 staff across Australia at the time of implementation, RIC had no formal human resource management system in place to manage efficiencies.
RIC Executive Manager of Human Resources (HR), Heidi Gardiner said without integrated HR system and processes, there was a duplication of data and a reliance on manual reporting, which was impacting the business. “Having an online system for HR that’s also integrated with our payroll and finance has made our jobs so much easier and having our TechnologyOne consultants on-hand to assist and support was really critical.”
RIC's HR team recognised the need to improve human resource operations by creating a one-stop centre to integrate HR, finance and payroll.
A solution was preferred to automate workflows, allow users to self-service and help reduce the admin load on their HR team.
A formal, competitive Government procurement process was conducted in early 2022 to select a vendor that would provide a suitable solution. RIC engaged TechnologyOne to help them with their digital evolution, adopting TechnologyOne’s Human Resources & Payroll, and Financials. Implementation was delivered over three stages, going live with HR first, followed by Payroll and Finance, and finally the Recruitment & Safety modules.
The biggest challenge for the organisation over the 12-month implementation period was managing employees’ daily workloads while phasing out manual processes and transitioning to the new systems. Coordinated communication and change management plans in place was key to the smooth and successful implementation. Staff were briefed on the digital transformation journey and provided with online demonstrations and workshops, and employees were involved in user acceptance testing.
Having an online system for HR that’s also integrated with our payroll and finance has made our jobs so much easier and having our TechnologyOne consultants on-hand to assist and support was really critical.
By implementing TechnologyOne’s Human Resources & Payroll, RIC have optimised their workforce and empowered employees through self-service features.
“We have had a positive response because it is easy to use. People managers appreciate they can now manage their own HR admin with simple self-service tools. It’s also been great for our HR team because others in the organisation are now less reliant on us to do small tasks like updating an organisational chart or manually processing leave,” Gardiner said.
Staff efficiency in HR processes has increased, with employees and managers saving time and now able to focus on their key roles.
When recruiting new team members, RIC’s HR team can now automate time-consuming admin work associated with recruitment, with TechnologyOne's software enabling automation of every step of the process, from posting jobs to managing the selection process and onboarding.
With TechnologyOne’s Human Resources & Payroll seamlessly integrated in real-time with Financials, it has created one source of employee data that enables RIC to profile their workforce. The organisation can now get real-time analysis, and reporting, making performance management a much easier task.
Regional Investment Corporation now have a fully integrated approach for managing employees, from recruitment, payroll and performance management to workplace safety, training employee self-service and much more.
About Regional Investment Corporation
Regional Investment Corporation (RIC) is an Australian Government farm business lender providing low-cost loans for farmers and farm-related small businesses in financial need. RIC loans are strengthening Australian agriculture by encouraging the long-term strength, resilience and sustainability of national agricultural economy.
RIC’s vision is to build a stronger regional Australia through thriving regions.
RIC was established in July 2018, with their head office based in Orange, New South Wales.
RIC loans are available to eligible Australian farmers to recover from drought and natural disasters, biosecurity risks and prepare for future events through its Drought Loan and Farm Investment Loan. They also support first generation and next generation farmers through its AgriStarter Loan.
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