NOW Finance is a leading, Australian owned, non-bank lender providing simple, data-driven personal loans. Their business is based in Melbourne with offices in Sydney, Brisbane and Perth, servicing customers across all states and territories in Australia. They believe in the power of no-fuss lending solutions, built on sophisticated data and AI capabilities with products that are designed to help people improve their lives and stay in control.
NOW Finance offers flexible loans for customers looking to consolidate debt, improve their homes, go on holiday, finance a new car, and more. NOW Finance is a subsidiary of Wingate, a finance and investment house specializing in property, global equities, consumer finance and private equity.
Qubix was engaged to implement Oracle NetSuite Planning and Budgeting (PBCS) levering the NSPB Framework to provide a solution for their Revenue & Expenses, Balance Sheet and Cash, Salary & Wages, Debt & Capital, Assets, and Financial Reporting.
Data was seamlessly integrated from their NetSuite ERP solution with the standard NSPB adaptor. We used our NSPB implementation method and pre-built assets to accelerate the project, deploying in just 12 weeks.
"Now Finance was looking for a future proof budgeting solution to grow with the business. Our brief was to move our complex and unmanageable Excel spreadsheet into the NetSuite Planning and Budgeting tool. The Qubix team took on our challenge and then some and helped to create for us bespoke amortisation calculations and a planning and budgeting tool which is fit for purpose with the ability to enhance and expand as the business grows and changes."
Qubix worked closely with NOW Finance to review their existing complicated spreadsheet. They were using a spreadsheet-based model to:
We guided the client through a process of identifying the key business requirements and capturing that information and logic in a new requirements template that was used as a reference point to validate the design and solution build. Through this process, we transformed and improved the way NOW Finance would operate without the constraints of excel driving the solution.
We then approached the requirements with a multi-dimensional design and tree structure of dependency tracking. A separate cube for amortization schedules helped to achieve complex matrix-based calculations, and a standardized naming and order of measures for each module will make future maintenance and enhancements easy.
Qubix experts worked with NOW Finance to test the solutions early through showcasing and then hands-on testing, demonstrating the solution and comparing it to the requirements, to ensure the solution worked as expected.
The deployment was carefully planned, migrating all aspects of the solution and data while enabling the production integration. Post validation testing was done to check the solution behaved in the same way as the test environment.
"The project went off without a hitch. Weekly checkpoints and hard work by both teams in the build and planning phases meant for a smooth transition from Build to UAT and UAT to go live. Thanks again Qubix team all your efforts are very much appreciated."
We support Now Finance through our Managed Services Team, providing coverage if they have issues, questions or require minor changes to the solution.
Why did NOW Finance choose Qubix?
" The Qubix project team led by Prateek Jampani supported the Now Finance team through the entire project, they always made themselves available to help, offered great insight on the build and genuinely learned about the business to ensure the provided solution fits the need of Now Finance. "
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