People First Bank
People First Bank is one of Australia’s largest credit unions with more than 375,000 members across Australia.
We’ve been working with our members for 70 years to help them meet their financial goals by providing the trusted banking services that every Australian deserves. We’re member-owned, so you know we’ll never prioritize profits over the needs of our members.
We’re a cut above the average, which is why we continue to be recognized with awards.
Roy Morgan named People First Bank as the country’s best credit union in 2014, 2016, 2017 and 2018, and Canstar has named People First Bank as Australia’s best customer-owned institution of the year for first home buyers in Victoria (last two years), South Australia (last five times awarded) and the Northern Territory (last four times awarded).
Why Recwise?
Another referral from prior users that new that RecWise delivers a robust and expandable product.
RecWise was brought in to demonstrate the features to make the existing spreadsheet solution, Excel, better and provide a structured framework to assist the visbility and progress of the month end close.
The client wanted to also understand whether RecWise produced reminder emails saying that applications they had used often sent reminders that were sent to Junk.
We assured that any reminders were actually relevant to the reconciliation and not just a way to flood the mailbox of the users.
The Solution
Delivering RecWise was simple to undertake as we transitioned them from paper based Excel to an online spreadsheet tool. We were able to replicate their current reconciliation process and build around it the robustness of rules and roles. The framework for reconciliations are the same regardless across entities.
The solution is our vanilla product with no changes required to make upgrading harder in the future. The application works out of the box and allows the client to add in acquired businesses that they merge with.
Having being referred also assist in the initial trust of the application, now we have a good relationship that works.
The Outcomes
No real challenges in our installs as we are basically uplifting the clients current process and inserting it into a structured robust framework. The only challenges faced was the fact when on premise whether we bought milk or dark hot chocolate. Definately a perk.
The outcomes are that we are a trusted partner that works with the client when they have an issue, perhaps its a server move or perhaps they are bringing on a new business then we work and consult at no additional cost to let them know what is achievable. If required we recommend they upgrade in order to tke advantage of features that make the day to day easier.
Since go-live there has been no incidence to report and the customer knows we respond in hours not days when they want to know things that they have a concern with, we provide the comfort in letting them know we have their back.
The Results
A delighted customer, what else would you want.
Improved process, reduced costs and reconciliations that can now be auto-completed quickly each month end that improved the overall time to close.
One user can’t remember life without RecWise, and we keep the team updated on the new features and benefits that they can take advantage of.
