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A clear future with MYOB Advanced
The Sunshine Coast Health Institute (SCHI) is a joint venture among the Sunshine Coast Hospital and Health Service, the University of the Sunshine Coast, TAFE Queensland and Griffith University. They needed a clean, efficient and collaborative financial management solution in order to not get tangled in the future.
Background
The Sunshine Coast Health Institute (SCHI) is a dedicated education, training and research facility providing a range of educational tools and training to develop and improve the skills of doctors, nurses, allied health workers, health professionals and vocational students. They needed a financial management solution that was innovative, asset rich and highly transparent and for this reason they chose MYOB Advanced.
No problems, just required a clear plan
“We were not fixing any issues, fortunately,” jokes Anne Merry, Principal Finance Officer at SCHI. “As the project was years in the making we had a very clear list of requirements.” As a joint venture SCHI needed to be able to apportion costs to each of their partners and provide clean, transparent and auditable financial records. Their partners also needed to be able to easily access this information.
In addition, they needed to able to generate financial statements at different cadences as each partner had different reporting periods. They also had a unique requirement to align their chart of accounts with the Queensland Health department. As a government funded project the eventual solution needed to meet Australian Government regulations.
"As the project was years in the making we had a very clear list of requirements."
Government approved, multi-entity and in the cloud
The key requirements of SCHI were that both software and vendor were Government approved. As one of a few cloud-based ERP solutions that met Australian data sovereignty laws, SCHI chose MYOB Advanced.
“We were really pleased that Advanced met all our requirements,” shared Anne. “We liked that MYOB are an Australian company with local support.”
With their partners in multiple locations across the Sunshine Coast area, browser based access makes it easy and seamless for them to access data.
"We liked that MYOB is an Australian company with local support."
Detailed product costing achieved
Using MYOB Advanced’s multi-entity functionality SCHI can apportion costs to different cost centres for each joint venture partner so they have visibility into their contribution. In addition, they can see all costs associated with the whole project.
Ann adds: “I think it’s made collaboration on the project so much easier because there is transparency into all the costs so there is no doubt or reason for mistrusting information.”
Adopting a cloud solution also meant they’ve avoided numerous infrastructure costs and responsibilities, reducing both a financial and resource burden for the project.
"It’s so easy for us to manage the project because Advanced has been customised to our requirements."
Before
- Complex multi-entity cost management requirement
- Required cloud-access for multiple partners
- Feature rich asset register was vital
- Needed tailored solution to meet government requirements
After
- Clean, accurate and auditable reporting
- Cloud software saves costs, improves access
- Tailored solution to meet joint venture requirements
- Feature rich financial management solution