A Game Changing Financial Planning System at Royans

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Royans is Australia and New Zealand’s largest truck and trailer accident repair specialist, and have been in the transport industry for 78 years. They operate from 29 branches with over 600 employees.

The finance team had 30 general ledgers and an accounting package which didn’t consolidate. It would take 2 whole days every month just manually consolidating the Excel results.

When Royans brought Workday Adaptive Planning on board, this changed. Workday Adaptive Planning integrates with their systems including Xero, iBodyshop and Excel based models. Consolidations, actuals, budgets and forecasts also go through one platform, saving much time and resources, and leading to enhanced and accelerated insights.

Cindy Gregory, Chief Financial Officer at Royans, says, “The beauty of Adaptive is I’ve got my consolidation and actuals all going through one platform. I’ve got my budget and forecast going through one system. The forecast… is a game changer for me. I can get a new version created, tinker at the bottom up view, make some high level changes on assumptions and – forecast done! It’s great.”

Cindy tells us about her experience before and after Workday Adaptive Planning. Watch it here:

“So I’m Cindy Gregory. I’m the CFO of Royan’s transport accident repairs.

We are a smash repairer or accident repairer for the transport industry, and we’ve been in the industry for over 78 years.

With the accounting package we have, it’s a very good operating system for the workshop floor, it’s not so great for accounting.

So I have 29, or actually 30 – different general ledgers across the business and my accounting package doesn’t consolidate.

So for me it was, two days a month spent consolidating in Excel my results, and if something changed or there was a formula error, it was always a little bit time consuming to fix it.

The reason why I liked Adaptive is because it was quite Excel based – the look and feel of Excel.

So for me who has come from Excel land it wasn’t a new system completely foreign to me that I’d have to learn.

It was also good that it can be used across many different systems. So whether we’re using Xero or we’re using iBodyshop, which is very specific to the industry
I work in and the system we’re using, or even Excel based models, it could pull it all together in one big database, order and sort it all so you can do what you want with the numbers.

The beauty of now having it all in Adaptive, is I’ve got my consolidation and actuals all going through one platform. I’ve got my budget and my forecast – all going through one system.

And the beauty is that a forecast is, it is… a game changer for me. So that is, I can get a new version created, I can tinker at the bottom up view, make some higher level changes on assumptions and forecast done. So it’s great.

My month end process was two days of consolidation. So that was very manual. It was, go into 29 different ledgers, download into Excel – an Excel file, do a VLookup to consolidate it into my master spreadsheet.

I’ve actually had a cashflow built for me as well. You know it’s – I think I get down to about a couple of thousand difference. We’re a $150 mil plus turn over business, so a couple of thousand difference on a cashflow, that’s just spits itself out for me, is amazing.

The thing that we’re really looking forward to with using Adaptive is the development of dashboards.

So the QMetrix team is helping me again, to build some dashboards.

What I want is, because my users are not all financial users, they’re not used to dealing in numbers.

I want it to be more charts, graphs, images, sort of that infographic style, everything on one page – one stop shop sort of source of truth, and so that’s what we’re in the process of building.

So it’s going to have financial metrics on there, obviously, because that’s very important for their own KPIs.

But it’s also going to have some other things in there from a people side of view, a safety point of view. It’s going to be looking at sort of workflows, and trying to predict those as well.

So yeah, we’re looking forward to the dashboards coming out as well.

They’re really responsive. So, to the point where it’s been the budget is due to the board, it’s 12:00 at night, and Nick is on the other side of the email emailing back, trying to resolve the issue, so, I couldn’t be more happy with QMetrix.

It’s been good.”

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