Finance systems overhaul for Indigenous Business Australia

Insitec helped Indigenous Business Australia (IBA) reform its accounts payable processes, save staff time through process automation, and enhance the reliability of the organisation’s financial system to ensure compliance with Commonwealth Procurement Rules.

The challenge

Indigenous Business Australia (IBA) was processing a large number of payments without a formalised electronic accounts payable process, relying instead on staff expertise and manual checks to avoid errors. Skilled staff were spending their time on data entry and manual calculations to prevent things from slipping through the gaps. The business did not have confidence in their compliance to Commonwealth Procurement Rules. Inefficiencies were impacting IBA’s ability to execute their vision of economic independence for Aboriginal and Torres Strait Islander peoples.

Insitec was selected by IBA to implement a system that reduced administrative and process-related performance problems. Insitec’s proposed solution could solve multiple problems and had the flexibility to adapt to changing policies or procedures.

Our solution

Insitec provided IBA with a proof of concept that demonstrated the benefits for their accounts payable process. We built development, pre-production and production systems which we used in partnership with IBA staff to develop a streamlined and partially automated accounts payable solution that could integrate with IBA’s finance systems. 

Once deployed and in use, further refinement of the solution continued, led by IBA staff with support from Insitec. The solution required a wider engagement with IBA departments in order to improve its uptake. IBA’s use of the Insitec designed Electronic Content Management system with business specific workflows and interfaces allowed them to optimise an important process of the business and free up the valuable time of staff members.

The result

After implementing Insitec’s solution, IBA’s accounts payable process is streamlined, requires significantly less manual processing and produces higher quality, standardised outputs. 

The solution fully complies with Commonwealth Procurement Rules, offering IBA confidence in the system and protecting financials against processing errors and fraud. Financial discrepancies were identified and rectified during the project, saving IBA significant losses. IBA is considering the use of Insitec’s solution platform for HR onboarding, staff reviews and form submissions and processing required by the business.