Oracle Customer Success — Australian Finance Group Ltd.

Australian Finance Group Ltd.

Australian Finance Group Triples Innovation Capacity with Oracle Cloud

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Migrating to Oracle Cloud solutions has been instrumental in tripling our capacity to innovate and reducing operational costs by US$376,000. It also facilitated a positive cultural change across the enterprise and helped us adapt and respond quickly to new opportunities.

— Andrew McGee, IT Manager, Australian Finance Group Ltd.

Australian Finance Group Triples Capacity to Innovate and Reduces Annual Operating Costs by US$376,000 with Oracle Cloud

Australian Finance Group Ltd. (AFG) is Australia’s largest mortgage broking group, offering residential home loans, commercial mortgages, and other financial products, including insurance, equipment and leasing finance, and personal loans.

As part of the key business strategy, AFG wanted to move its on-premises applications—such as its planning tool—to the cloud, focus on effective innovation, meet board expectations, and keep up with the changing market.

 
Challenges
  • Increase innovation capacity and enhance competitive edge by shifting IT resources away from time-consuming systems management tasks to more value-added initiatives, such as developing new technology offerings for mortgage brokers  
  • Gain deeper insight into business performance and support strategic decision-making, including planned IPO, by generating timely and accurate analysis reports, such as residential home loan settlements, for board members and investors
Results
  • Reduced operational cost by US$376,000 annually by migrating to Oracle Cloud, including Oracle Enterprise Performance Management Cloud, Oracle Enterprise Resource Planning Cloud, and Oracle Sales Cloud, and transitioning 50% of operating infrastructure roles to value-adding roles
  • Tripled capacity to innovate by minimizing system management workload, such as patching and upgrades, and enabling the company to lower budget required for operations from 80% to 40% and increase budget allocated for innovation from 20% to 60%
  • Created month-end reports 50% faster and supported better decisions by automatically updating data in the financial reports and enabling executives to easily access and analyze business performance with Oracle Planning and Budgeting Cloud Service
  • Embraced a positive and proactive cultural change across the organization and enabled the business and the IT team to explore new opportunities and adapt quickly to market demands, such as new financial services regulations
  • Ensured smooth mortgage broking business operations by eliminating system outages during office hours and enabling seamless integration with other applications, including Oracle Financials Cloud Service
  • Enhanced competitive edge by allowing business users to easily view and generate accurate reports or presentations, on topics such as loan portfolio performance, via mobile devices and gaining greater insight into mortgage broking operations
  • Accelerated user adoption by providing a familiar user interface, online help and tutorials, and best practice templates, making it easier for users to transition to the new platform with minimal training

 

We moved to Oracle Cloud solutions because we already had significant investment in Oracle’s technology and Oracle also offers the most comprehensive solutions in the cloud space, making the transition very simple and fast for us.

— Andrew McGee, IT Manager, Australian Finance Group Ltd.

Execution

With assistance from Oracle Partner, DXC Red Rock (formally M-Power Solutions), AFG first migrated its on-premises Oracle Hyperion Planning to Oracle Planning and Budgeting Cloud Service in just two months and within budget. The successful adoption prompted AFG to implement other Oracle Cloud solutions, including Oracle Enterprise Resource Planning Cloud and Oracle Sales Cloud. It completed the entire project in 18 months.

“With increasing business complexity and size, it was logical for us to adopt a cloud-first strategy across our applications. Oracle Cloud solutions give us the ability to focus on improving our products and services and meet market expectations,” McGee said.


About Australian Finance Group Ltd.

Headquarters

 
Perth, Australia

Employees

 
200

Annual Revenue

 
US$396 million

Founded in 1994, Australian Finance Group Ltd. (AFG) is Australia’s largest mortgage broker service provider with access to over 40 lenders and 2,650 brokers nationwide. In addition to home loan products, AFG also offers commercial finance, AFG-branded securitized products, and insurance products.
 

Partners

With deep understanding of AFG’s business needs, DXC Red Rock assisted AFG to manage the entire migration project to Oracle Planning and Budgeting Cloud Service—from arranging contracts to cloud subscriptions.

“We were the first Australian company to adopt Oracle Planning and Budgeting Cloud Service and DXC Red Rock handled the process extremely professionally,” McGee said. “Working with the right partner also enabled us to quickly realize the benefits of Oracle Cloud.”

Published:  Dec 06, 2016