Australia's largest customer-owned financial institution drives continued profitable growth with SAS®
SYDNEY, Australia (08 Aug 2013) – CUA, Australia's largest customer-owned financial institution, has implemented SAS to provide insights into the costs and profitability of the increasingly personalised services it offers its more than 400,000 customers.
SAS – the leader in business analytics solutions and services and the largest independent vendor in the business intelligence market – has provided CUA with advanced analytical finance solutions to drive continued profitable growth.
CUA chief financial officer, Tony Taylor said, “SAS is without a doubt the industry standard for providing advanced insight into customer profitability. I have had the privilege of leading SAS projects in several financial organisations and we’ve always achieved great results. Once again, this time for CUA, SAS has delivered the capabilities needed to reach our growth objectives.”
The SAS Financial Management solution was implemented over three months with SAS Australia experts periodically on-site to work alongside CUA’s own business analysts and IT professionals. “This was a very important project for the business,” said David Gee, CUA’s chief information officer. “We had a number of significant projects going on at the time and while we had some challenges along the way, I can’t fault the end outcome, which was excellent.”
The SAS solution models business processes to identify all the costs associated with a given activity, whether direct, indirect or shared, to determine the true cost and profitability drivers.
For CUA, activity-based costing will extend beyond understanding the transaction itself to the transaction persona of the customer. The SAS solution enables measuring the activity costs for specific groups of channel distribution to isolate and identify the most efficient channels for distribution and areas requiring investment, allowing maximisation or product profitability and return on investment.
SAS Australia and New Zealand managing director David Bowie said, "We are excited about being associated with such a highly regarded and progressive financial institution. I'm extremely proud of their achievements using SAS which is enabling them to transform into one of the country's leading financial institutions."
As Australia's largest customer-owned financial institution, CUA provides banking services to more than 400,000 Australians across the country and is emerging as a competitive force in Australian banking. CUA is 100% owned by its customers, not shareholders, with profits reinvested back in to the business in the form of more competitive products, better interest rates and lower fees. For more information, please visit: www.cua.com.au
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 65,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world
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