Australian Finance Group Ltd.

Oracle Customer Success

Australian Finance Group triples innovation capacity with Oracle Cloud

Summary

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.

Business 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

By migrating to Oracle Cloud, we have transformed our business model and technology platform, enabling us to double our capacity to innovate. We can process 600,000 monthly commission payments 5x faster, have reduced system-management costs by 29% and enhanced our competitive edge.

Andrew McGee

IT Manager, Australian Finance Group Ltd.

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

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.”

We chose Oracle because it offered a comprehensive cloud offering across functions and industries that no other vendor can match, and required zero customization. Moreover, because we were familiar with Oracle applications, the migration to Oracle Cloud was easy and required little change management.

Andrew McGee

IT Manager, Australian Finance Group Ltd.