QIC Limited

QIC’s Chief Financial Officer Claire Blake said the implementation of the TechnologyOne Financials suite had played an important role in positioning the finance team to support the company’s increased focus on profitability and expansion into new investment solutions and geographies.

“Responsibility for profit has been formalised across QIC and we now report fully absorbed profit by boutique which includes pricing our internal services, allocating revenue and setting key performance indicators on profit,” Ms Blake said.

“This has helped QIC sharpen its focus on operating commercially and profitably.”

Ms Blake said since implementation, the TechnologyOne software had been adapted to help QIC cope with industry changes, regulatory reform and offshore expansion.

The software has also assisted with generating significant efficiencies in the finance area.

“We used to have a number of complicated, time lagging and paper intensive finance systems.

“Since implementing TechnologyOne Financials, we have seen a huge amount of efficiency gains in the finance area – the month-end close has been reduced from eight days to three and the virtually paperless approach we have adopted saves office space and time required to retrieve records,” Ms Blake said.

“By getting the overhaul of our systems right early on, technology is helping QIC to achieve its profitability objectives.

“We are confident the TechnologyOne solutions will continue to evolve with us.”