Cash Converters franchises in New Zealand, the UK, South Africa, China, the US and Singapore are considering buying the company’s first business intelligence implementation, which has already been rolled out in Australia.
In a bid to overcome a lack of data consistency and human error, Cash Converters Australia has led its global franchise with the rollout of a new business intelligence (BI) reporting system.
Not only has the new system bolstered the accuracy and efficiency of its reporting system, it has removed problems associated with copying and pasting between Excel spreadsheets.
Cash Converters chose the Crystal Decisions BI system from Business Objects to provide consistency in data-reporting by linking a Domino relational database, various financial systems and a document portal library, as well as data stored in Microsoft Excel and Word documents, to a central dashboard.
Cash Converters senior Domino and portal analyst Michael Horsfall says there was no consistency in data-entry, which relied on manually inputting figures into different databases.
“Information was ‘copy and pasted’ between Excel spreadsheets, SQL databases and the Domino database. There was no consistency and numbers were often wrong,” Horsfall says.
“We have now slashed our report-creation times from four days to five minutes and have improved data consistency and accuracy across our 120 Australian stores, and through our national and state management levels.
“IT had a lack of information to base monthly reporting on. Now we produce reports with information on store sales, loans and state and national KPIs (key performance indicators), broken into past years, months and weeks.”
Horsfall says a by-product of the project was that “Excel-loving managers jumped on it and started demanding more reports”.