Maximise Digital ROI with TechnologyOne in Public Sector

Discover how public sector organisations can maximise ROI, improve efficiency, and transform finance processes using TechnologyOne solutions.

Unlocking Your Transformation Potential in Public Sector Finance

Recent research across Australia, New Zealand, and the United Kingdom reveals a compelling trend – digital transformation is one of the top five priorities for 38% of organisational leaders over the next five years.¹ Yet, the path to digital excellence isn’t always straightforward. In particular, public sector organisations face unique challenges to: 

1. Maximise the return on their digital investments.
2. Maintain financial governance standards.
3. Create minimal disruptions to daily business.

The Challenge

McKinsey & Company have identified that only one-third of organisations successfully sustain the financial and operational benefits of their digital investments over time.² This issue is particularly relevant for local government, healthcare, and educational institutions, where budget constraints often compete with the need for technological innovation and investment. 

Apart from budget, what else is holding organisations back? Our research indicates that many organisations in these sectors are either content with the status quo or limited by their current knowledge of what’s possible. While you can’t be what you can’t see, this mindset often prevents public sector organisations from unlocking the full potential of their enterprise systems.

The Promise of Transformation

However, the potential rewards are substantial. Organisations that have successfully navigated digital transformation challenges achieved:

• Up to 60% boost in productivity.²
• Up to 10% increase in revenue generation and cost savings.²
• Significant improvements in service delivery and stakeholder satisfaction.²

For public sector finance teams that Lánluas partners with, these benefits have translated into real-world impacts that matter, including:

• 60% reduction in process completion times.
• 70% reduction in communication overhead.
• Automation of over 40,000 individual events.
• Up to 79% reduction in system complexity.
• 50% improvement in IT response times.
• 191% ROI over 5 years from automated accounts payable processes.

Quick Wins: Transforming End-of-Year Processes

One of the most immediate opportunities for finance transformation lies in end-of-year (EOY) finance processes. For many users, EOY procedures have become a significant pain point – often unclear, fragmented, or simply not readily available. Our client conversations reveal a common challenge: the loss of critical procedural knowledge when key staff members depart, leading to increased stress, inefficiencies, and potential errors.

This challenge presents an immediate opportunity for improvement. By implementing structured EOY workflows, organisations can:

• Centralise and standardise EOY procedures.
• Reduce dependency on individual team members.
• Minimise the risk of errors and oversights.
• Create a repeatable, efficient process that saves time and reduces stress.

These improvements don’t require massive overhauls or significant investments in TechnologyOne. Instead, they leverage existing TechnologyOne system capabilities that many organisations already have but aren’t fully utilising. This represents a perfect ‘quick win’ opportunity for finance teams looking to demonstrate the value of digital transformation with TechnologyOne.

The Blueprint for Success

For finance leaders in local government, healthcare, and education, the path to maximising digital investments follows a clear pattern:

• Assessment: Begin with a thorough evaluation of your current TechnologyOne system utilisation.
• Strategy Development: Create a roadmap that aligns digital transformation with your organisation’s specific needs and constraints.
• Implementation: Execute changes systematically, with a focus on process automation and efficiency gains.
• Measurement: Track and quantify improvements to demonstrate ROI and maintain stakeholder support.

Impactful Partnerships

Often the journey to digital excellence in public sector finance requires more than just technology – it demands a strategic approach and often this requires independent TechnologyOne and industry expertise.

Here’s why:

• Objective Assessment: Independent consultants can provide unbiased evaluations of your current systems and processes, identifying opportunities that internal teams might overlook.
• Specialised Knowledge: Public sector organisations benefit from consultants who understand both the technical aspects of financial systems and the unique requirements of government and educational institutions, with many previously working in these sectors themselves.
• Experienced Support: Success stories show that achieving 100% buy-in and advocacy is possible when change is managed effectively, often this requires external support who are experienced in potential pitfalls and risk mitigation. 

Looking Ahead

As we move forward, the question for finance leaders in the public sector isn’t whether to embrace digital transformation, but how to do it effectively. The path to digital excellence begins with a single step – moving beyond the status quo and embracing the possibilities of true digital transformation.

Our guide for finance leaders is designed to help finance teams embrace digital transformation effectively by unlocking the full potential of their TechnologyOne investment. 

Why Partner With An Independent Consultancy Focussed On TechnologyOne

For more information, contact our team today.

References

¹ Top 5 issues facing Australian business leaders in 2024

² Digital Australia: Seizing opportunities from the Fourth Industrial Revolution