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How Tandia moved away from Excel-based financial reporting

by Simon Goble on November 16, 2015

Topics: Financial Reporting

As a product of a large merger between two credit unions, Tandia had to revolutionise its financial reporting to become more efficient and increase its analytical capability. It chose BankBI to provide its financial performance software.

Download the case study to find out how Tandia moved away from Excel-based  financial reporting

Before becoming Tandia, Teachers Credit Union and Prosperity One Credit Union, as two separate organisations, had seven branches each and used Excel for financial reporting. Although spreadsheets were becoming increasingly complex and it took several days to produce reports, this method provided actionable financial insights.

However, after the merger, Excel became obsolete. With two separate banking systems for the previously independents credit unions, it became an imposing challenge to consolidate data and extract meaningful metrics. Reporting took not just days, but weeks, meaning management did not have the information available to make strategic decisions.

Tandia, as a credit union that administers nearly CAD 1billion in assets and prides itself on helping members build a healthy and prosperous future, realised it needed a new means of reporting.

After turning to BankBI for assistance, Tandia now have a unified reporting system that enables managers to analyze exactly the information they need, at month-end and during the month using daily movement reports. The credit union is ready to add further branches and facilitate future mergers.

To find out how Tandia seamlessly abandoned Excel and overcame its financial reporting challenges, download our case study.

Read the case study

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