Retirements Benefits Fund (RBF) Tasmania has been providing superannuation products and services to Tasmanian public sector employees and their partners since 1904.
In 2012, following the outsourcing of its member administration services the previous year, RBF decided to refresh its ageing information technology (IT) infrastructure from the ground up, to reduce IT and compliance risk, and become more agile by adopting new technology as it became available. Ultimately, RBF wanted to focus on its business rather than the technology needed to support it.
As a result, RBF outsourced its IT infrastructure and created a virtual desktop environment for its users which included some systems that were provided as Software as a Service. RBF has since transformed its back-office functions, improving customer service capabilities and productivity.
“We have a good deal more flexibility with our new IT environment, and that has really changed the way we work,” says RBF’s Manager, Corporate Systems Fiona Giltjes.
RBF began its move to the TechnologyOne Cloud in May 2015. The migration process had to be completed quickly to avoid losing critical data as the on premise application was sitting on a SQL server that was nearing obsolescence and out of support by Microsoft.
“We had between five and six weeks to make the move – from implementation and testing to final roll-out – without running the risk of impairing our data,” explains Corporate Systems Manager Fiona Giltjes.
“Given this tight timeframe, a key concern was to make sure implementation went smoothly, creating an environment that would improve our processes as well as providing stability and reliability instead of throwing up new challenges.”
With the organisation already using TechnologyOne’s software, RBF’s plan was to shift its software from an on premise setup to TechnologyOne’s Software as a Service (SaaS) solution.
It began the process by implementing the Financials and Corporate Performance Management (CPM), Enterprise Budgeting and Asset Management solutions on the TechnologyOne Cloud, which it achieved within the tight timeframe.
TechnologyOne’s cloud solution has reduced IT risk for us, as we now have redundancy built in at every level without having to manage the infrastructure ourselves.
RBF’s previous IT setup existed on servers that were fast coming to the end of life, meaning critical data and key applications were at risk.
RBF wanted to increase efficiency and ensure business continuity by introducing a solution that allowed teams to access files, applications and information wherever they were, from any workstation and from any device.
It also sought to remove the complexity of managing on premise servers and storage devices.
RBF’s shift to the cloud has allowed it to achieve these objectives and mobilise its workforce by providing seamless, secure access to core business systems from any device.
“The improved ease of access has been a huge benefit to the business,” Ms Giltjes says.
“Virtual desktops can be accessed remotely, and applications can be used on a wide range of devices. As a result, all employees are working more efficiently and the solution supports our flexible working strategy.”
These changes have supported significant enhancements in the products and services offered by RBF to its members. These enhancements have contributed to RBF receiving the top Platinum rating from ratings agency SuperRatings and the Conexus Financial 2015 Small Fund of the Year award.
The legal and regulatory environment in which superannuation funds operate has become increasingly demanding and complex. RBF needs to meet a rigorous array of both internal governance and regulatory compliance obligations, where the costs and ramifications of non-compliance are enormous. Accredited to most applicable security and governance standards, including ISO, ISEA SOC1 and AT101 SOC2, TechnologyOne’s SaaS solution meets all major regulatory obligations.
Adopting the solution is also helping RBF reduce risk in other ways. Shifting to the cloud has enabled the organisation to future-proof its IT infrastructure – it now seamlessly upgrades as enhancements, fixes and new features become available, and can easily scale to meet future business requirements.
“TechnologyOne’s cloud solution has reduced IT risk for us, as we now have redundancy built in at every level without having to manage the infrastructure ourselves,” says Ms Giltjes.
A TechnologyOne customer for more than 20 years, RBF is familiar with the company’s approach.
“We trusted TechnologyOne to make the migration process fast and painless, and it was,” says Ms Giltjes. “For example, workflows did not need to be completely modified for users – instead, they were improved via back-end functions, without disrupting processes. At the same time, the system proved very easy to use.
“Thanks to TechnologyOne’s technical experience and expertise, our migration to the cloud has been quick and easy, improving workflows and processes in a way that is still being felt 12 months later.”
About Retirement Benefits Fund Tasmania
Retirements Benefits Fund (RBF) Tasmania has managed superannuation schemes for Tasmanian public sector employees since 1904. The state’s largest superannuation fund, it manages more than $5.7 billion in investments and provides retirement benefits and income products to 76,000 current and former state service employees and their partners. RBF employs more than 90 employees in Hobart and Launceston.
In mid-2015, the Tasmanian State Government entered into a Memorandum of Understanding with RBF and the soon-to-be-merged funds Tasplan and Quadrant with a view to creating a single Tasmanian superannuation fund responsible for the accumulation accounts and members of Quadrant, Tasplan and RBF.Retirement Benefits Fund Tasmania website
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