Yellowfin > Case Studies > Victoria Treasury: Streamlining Finance with Yellowfin

Victoria Treasury: Streamlining Finance with Yellowfin

Customer Company Size

Mid-size Company

Region

Pacific

Country

Australia

Product

Yellowfin

Tech Stack

Business Intelligence (BI)
Action-based Dashboards
Automated Monitoring

Implementation Scale

Enterprise-wide Deployment

Impact Metrics

Productivity Improvements
Digital Expertise

Technology Category

Analytics & Modeling - Predictive Analytics
Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Process Control & Optimization

Services

Software Design & Engineering Services
System Integration

About The Customer

Treasury Corporation of Victoria (TCV) is the central financing authority and financial adviser for the State of Victoria and authorized entities, providing financing solutions and treasury services such as cash management products, financial advisory, and risk management. Founded in 1993, TCV assists the State in managing the various monetary requirements necessary to fund Victorian infrastructure projects, finding investors and managing the funds for distribution to relevant departments across the state. In 2018, Treasury Corporation of Victoria began to investigate their options around an appropriate business intelligence (BI) solution. Like most businesses, the financing authority wanted to accomplish more with the wealth of information and reporting it had and reduce the time and manual effort staff spent performing data collection and analysis. Choosing Yellowfin, it has now modernized its analytics and reduced manual process significantly, and unlocked several new and exciting opportunities.

The Challenge

TCV reports off a number of datasets, including financial performance, funding and liquidity, profit, market risks and risk metrics of how the business runs, with one large treasury system that is the main feed and several others running into it. With many data sources and reports to accommodate, its team needed a BI solution that could offer a level of automation, consolidation and streamlining to bring together key datasets and improve the efficiency of self-service BI fast. It spent three months researching its options before choosing Yellowfin based on its action-based dashboards and automated monitoring capabilities. However, TCV faced challenges in preparing users and establishing expectations around the tools. “The learning curve for us is to get our databases a bit more defined,” said Mike van de Graaf, General Manager of Risk and Performance Measurement, in charge of risk across the business. “We’re in one spot, have one set of systems, but it took six months to nail all the definitions and agree across the different user groups. If you’re going to use a certain number [of tools] to report, do you adjust for it? How do you adjust for it? How does that process work? For example.” “So we had to really go back and document that a bit more and take end-user ownership over data sources. But it was really easy once [Yellowfin] was plugged in – we got going very quickly.”

The Solution

Treasury Corporation of Victoria is a small-to-mid sized organization with 50 staff. Upon Yellowfin’s implementation, its group of business users worked hard to get familiar with the new analytics platform and work toward their objective of reducing manual effort and improving efficiencies. “My first goal was to make sure a lot of manually repetitive work was going to be put into reports we could populate automatically to reduce manual workloads, so we could shift from manual BI to analysis – a standard transition for most businesses,” said van de Graaf. “But we really had to get going, as there was a lot more manual work that we did. That was really achieved well and a lot of that is now going through Yellowfin automatically.” TCV’s end-user group quickly became the main adopters of Yellowfin, though its analysts and IT also found it to be an easy transition. “You want [the solution] to be intuitive; I think [Yellowfin] does that very well. We’ve seen other tools needing more training to get people to actually run with it. I like the fact we have people, who have another day job, still use Yellowfin and do specific administrative and technical work because it’s so simple to use.”

Operational Impact

Yellowfin has been highly successful in TCV's department, leveraging significant productivity gains since its adoption among the company’s end-user group, which now numbers around 15 active users.
Much of Treasury Corporation of Victoria’s reporting and analysis processes are now significantly smoother, leading to quicker and better decisions.
Yellowfin helped TCV modernize the way they collect and gather information and assimilate reports, providing a better position to offer analytics to the executive team.
The adoption of Yellowfin has provided TCV staff with new skills and opportunities to grow and learn, taking over processes that were not adding value.
TCV has started to present dashboards in committee meetings, making it a regular practice due to the shift in remote work and Yellowfin’s latest dashboard updates.