Case Study

Worksafe Victoria

  • Worksafe Victoria a statutory authority of the state government of Victoria, Australia. It is the state’s health and safety regulator and is the manager of Victoria’s workers compensation scheme. Their aim is to keep all workplaces healthy and safe, and to deliver high quality care and treatment when workers are injured.

    WorkSafe Victoria's responsibilities include:

    • help avoid workplace injuries occurring

    • enforce Victoria's occupational health and safety laws

    • provide reasonably priced workplace injury insurance for employers

    • help injured workers back into the workforce

    • manage the workers' compensation scheme by ensuring the prompt delivery of appropriate services and adopting prudent financial practices.

  • Health, Workers Compensation and Insurance

    • Industry specific safety advice

    • Insurance

    • Return to work services

Objective

In February 2019, The WorkSafe Victoria Board, resolved to upgrade the current finance system (Oracle Release 11) to the Whole of Victorian Government (WoVG) Finance platform (Oracle Cloud Financials).

The existing platform was in place for approximately 10 years with budgeting, forecasting, and reporting activities undertaken manually.

Worksafe Victoria engaged Pivot2 Solutions to assist with the rapid implementation of EPBCS, working with Fiona Schutt (CFO) and Teresa Sutton (Financial Controller) and the entire WorkSafe finance team.

Fiona and Teresa decided to bring forward the EPBCS component of the project. This would normally follow at the end of any ERP based project but proved to be a very insightful and successful strategy as it allowed the finance team to

  1. Gain understanding and familiarity of the Oracle solution platform

  2. Start thinking about issues and requirements for the impending COA re-design

  3. Give the team experience in a finance transformation project before embarking on the bigger ERP project.

Worksafe Victoria also required EPBCS implementation to be installed and live within a 7-week period to utilise the solution for budgeting and reporting in the FY20 financial year.

Worksafe Victoria set the following key project objectives:

  • Finance team can confidently use and maintain module post Go-Live

  • Retrieval of financial information is quick & easy

  • Data is accurate & relied upon as “source of truth”

  • Integration processes are established and seamless

  • Dynamic reporting in line with established hierarchies to enable insightful analysis Implementation of a reliable forecasting tool

Benefit to Client

Within the required 7-week period, Pivot2 implemented a Planning and Reporting solution fondly name OPAR (Oracle Planning and Reporting) providing:

  • Income Statement, Balance Sheet and Cash Flow for actuals and driver-based planning

  • Variance reporting across actuals, forecast and budget

  • Workforce reporting and planning by employee by cost centre across the business

  • Automated calculation of specific employee-based government banding and salary on cost requirements

  • Provided users access to data for analysis which was historically difficult to attain and required Excel manipulation to present.

  • KPI dashboarding for investment reporting to align with specific government reporting requirements.

  • Creation of structured hierarchies that allow for flexible ad hoc reporting based on stakeholder requirements

  • Integration uploads from Trial balance and payroll source systems removal which previously took end users substantial waiting times

  • Provided the capability for WorkSafe to view and manage their analysis and reporting in several differing formats while having the comfort that the underlying data is coming from the one source of truth.

Outcome

The decision to implement the EPBCS part of the project first was a smart one. It meant Worksafe gained valuable insights and benefits which would’ve not been realised if the EPBCS was implemented at the end of the ERP project, as it normally is.

Worksafe Victoria’s Finance team gained these insights:

  1. Understanding and familiarity of the Oracle solution platform

  2. Allowed them to start thinking about issues and requirements for the impending COA re-design

  3. Gave the team experience in a finance transformation project before embarking on the bigger ERP project.

Within 7 weeks, Pivot2 delivered

  • A full Income Statement, Balance Sheet and Cash flow for budgeting, forecasting and reporting of actuals

  • A full workforce model allowing reporting against budget by employee by cost centre across the business utilising specific government banding requirements

  • Specific KPI dashboarding reporting to align with specific government reporting requirements.

  • Provided WorkSafe Victoria the capability to view and manage their analysis and reporting in a number of differing formats while having the assurity that the underlying data is coming from the one source of truth

  • Reduced the 40 minute wait to generate a trial balance to gain data for month end reporting, to having the data immediately available.

  • Eliminated the manual task of creating month end reports, whereas now these are immediately available using SmartView refreshes or FR reports.

  • Created structured hierarchies to allow for flexible ad hoc reporting based on stakeholder requirements

  • Trained 20 finance staff in the use of OPAR

“Pivot2 Solutions helped us significantly enhance and modernise our budgeting, forecasting and reporting system. They worked tirelessly to understand our unique requirements and ensured that what was implemented met our requirements. Of particular note was the insight and guidance they brought from their previous experience to this engagement.”
— Teresa Sutton - Financial Controller

See more case studies

IDP Australia

Australian Terminal Operations Management (ATOM)