Kiwibank makes the move to independent financial management

In 2002, Kiwibank was created as a subsidiary of New Zealand Post, and was migrated to the Unit4 Business World (UBW) ERP system as part of the NZPost Group in 2014.

A project was undertaken in 2020 with Agilyx to migrate Kiwibank into its own independent environment.

Logo of Kiwibank 2022
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Industry

Finance

Company Size

2500+

Headquarters

Wellington, NZ

The Challenge

In 2002, Kiwibank was created as a subsidiary of New Zealand Post, and was migrated to the Unit4 Business World (UBW) ERP system as part of the NZPost Group in 2014.

Since then, Kiwibank has undergone business changes which required their financial records to be independent from the NZPost Group. A project was undertaken in 2020 with Agilyx to migrate Kiwibank into its own independent environment.

Kiwibank’s goal was to redevelop their interfaces to run directly between their network and their UBW environment (without routing via the NZPost network) and to implement new solutions for exchange rate management, electronic supplier invoice processing and data warehousing.

The Solution

The project has fostered superior timeliness and increased the accuracy of work flows and information. With Finance these improvements in place, management is now able to focus intently on real business exceptions as opposed to routine activity. Agilyx has provided a platform that has resulted in greater consistency and predictability in financial performance, HR & Payroll Projects Budgeting Procurement thus building the board’s faith in managerial decision making. This enhanced trust in financial feasibility has in turn allowed the executive team to focus intently on maximising opportunities and continue the growth of the company.

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Key Takeaways

400% reduction in system down time

60% decrease in time spent looking after stack

“Our new and independent ERP system has streamlined the way we support the business and freed the team up to focus on providing further value deeper into the business. ”

– Blair Bradley, Head of Finance – Operations and Expenditure, Kiwibank

The Results

Agilyx was able to deliver a completely independent ERP solution for Kiwibank, giving them full control over their systems. This was achieved without downtime or adverse user impact, and without any manual requirements of recreating configurations or reloading transactions.

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