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SCHI has multi-entity reporting with MYOB Advanced Business

15 May 2024

The Sunshine Coast Health Institute (SCHI) needed a financial management solution that was innovative, asset rich and highly transparent and for this reason they chose MYOB Advanced. 

The SCHI is a joint venture among the Sunshine Coast Hospital and Health Service, the University of the Sunshine Coast, TAFE Queensland and Griffith University. They needed a robust and collaborative financial management solution in meet audit requirements

No problems, just required a clear plan 

“We were not fixing any issues, fortunately,” jokes Anne Merry, Principal Finance Officer at SCHI. “As the project was years in the making we had a very clear list of requirements.”

As a joint venture SCHI needed to be able to apportion costs to each of their partners and provide clean, transparent and auditable financial records. Their partners also needed to be able to easily access this information. 

In addition, they needed to able to generate financial statements at different cadences as each partner had different reporting periods. They also had a unique requirement to align their chart of accounts with the Queensland Health department. As a government-funded project the eventual solution needed to meet Australian Government regulations.  

Government approved, multi-entity and in the cloud 

The key requirements of SCHI were that both software and vendor were Government approved. As one of a few cloud-based ERP solutions that met Australian data sovereignty laws, SCHI chose MYOB Advanced Business. 

“We were really pleased that Advanced met all our requirements. We liked that MYOB are an Australian company with local support.” 

- Anne Merry, Principal Finance Officer, SCHI

With their partners in multiple locations across the Sunshine Coast area, browser-based access makes it easy and seamless for them to access data.  

Detailed product costing achieved 

Using MYOB Advanced’s multi-entity functionality SCHI can apportion costs to different cost centres for each joint venture partner so they have visibility into their contribution. In addition, they can see all costs associated with the whole project. 

Anne adds: “I think it’s made collaboration on the project so much easier because there is transparency into all the costs so there is no doubt or reason for mistrusting information.” 

Adopting a cloud solution also meant they’ve avoided numerous infrastructure costs and responsibilities, reducing both a financial and resource burden for the project. 

"It’s so easy for us to manage the project because Advanced has been customised to our requirements." 

Before MYOB Advanced Business

After MYOB Advanced Business

Complex multi-entity cost management requirement 

Required cloud-access for multiple partners 

Feature rich asset register was vital 

Needed tailored solution to meet government requirements  

Clean, accurate and auditable reporting 

Cloud software saves costs, improves access 

Tailored solution to meet joint venture requirements 

Feature rich financial management solution 

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