Corporate Group Tree
In today’s financial environment, speed to business is core to enable success. High value, high volume transactions and the ability to perform these transactions correctly and swiftly while adequately managing risk, is fundamental to the success of FSI organisations.
Kiandra IT teamed with FinSuite to provide a fast, automated way of creating the mandatory and complex, corporate entity relationship models (or corporate family trees) required by FSI organisations to make key decisions regarding the approval of transactions.
The solution, the Corporate Group Tree (CGT) application, distills hundreds of pages of documentation into an interactive diagrammatical model of the data, that is aesthetically appealing, easy to understand and can be modified in real time.
CGT delivers an abundance of business benefits to organisations, including:
- End-to-end financial review time savings of over 80%
- A massive 99.972% time saving in producing the financial relationship models
- Accurate relationship diagrams, substantially cutting the time taken to analyse the information
- Enhanced, rapid and prudent decision making resulting from robust understanding of the relationship between various entities
- Improved ROI – users can access the CGT at a low cost per month, all that is required is a device with an Internet connection and access to the program
- A zero installation footprint, the application can be accessed by any web browser, without the need to install software
- Centralised access control and hosting allows FinSuite to self-manage license usage and virtually eliminates piracy.
ANZ bank purchased 620 licenses within 24 hours of the application’s launch and strongly endorses the significant business impact and usability provided by the solution.
“The Corporate Group Tree Program has improved our business process. It not only saves time, it provides a better understanding of the relationships between a group of entities and therefore enables us to structure debt more effectively and reduce our risk. For the first time, it has provided a standardised format for corporate trees, providing a quick, clear snapshot for anyone that needs it. CGT is not only simple to use, but delivers exceptional diagrammatical representations, reducing time, saving money and improving the quality of our output,” said Mr Jeremy Dean, General Manager, Business Banking, ANZ.
CGT has also received the following additional feedback from the financial services industry:
“Just a quick note, to provide some positive feedback regarding the new corporate group tree tool. In summary CGT:
- Saves time compared to previous manual process
- Improves accuracy in family trees which will improve QA
- Ensures all entities are captured via guarantee's for cash flow purposes
- Assists with teaching new ANZ employees funds flow/ownership and different group structures
- Assists Credit to gain a quick snap shot of the group they are assessing”
Sarah Lang, Relationship Manager, Commercial Banking
“I just wanted to provide some feedback on CGT. I have been focusing on a number of non-tariff barriers to trade transactions. One thing that used to frustrate me was that the credit team always want to see the corporate family tree at the workshop stage. The best thing about CGT is that you can very quickly produce a corporate family tree to use for the initial workshop. What previously took me over an hour now takes minutes. Another positive is that it is easy to update if something changes. I am a bit of a computer nerd, and the user interface of the program is nigh on perfect. It is a very useful tool and I am very impressed with it.” Ben Witten, Relationship Manager, Business Banking
“Thank you for saving the front line a stack of time. We had a customer with 4 entities and a unit trust with 12 beneficiaries. Normally creating a corporate family tree would take over 30 minutes but is now completed in under 5 minutes with CGT and laid out in a format everyone can understand. Well done and keep up the good work.” Justin Beyer, Relationship Manager, Business Banking.
CGT is available for purchase from FinSuite’s website – www.finsuite.com.au