Zavanti talks to MAB Corporation Melbourne, Australia.
MAB Corporation have been working with Zavanti International for close to ten years. As MAB expanded, they needed more sophisticated software to organise and manage their increasing project list and legal responsibilities. Zavanti International talks to Thomas Delbosc at MAB about the efficiencies they've experienced through using Zavanti software.
Q1: What were the business demands that made you seek out a new software solution?
MAB Corporation has been in expansion now for close to ten years, growing to own over 80 legal entities. Our accounting software was functional but not brilliant. There was a lot of duplication of effort in the system from initial input to final accounts. As with any growing company, our processes become more intricate and demanded more ability to organise, compare and extract data. We were previously using a spreadsheet-based solution
which not only was more time-consuming, but also meant there was more chance for inputing and maintenance errors.
Ensuring our business processes supported our growth was a key priority, so we tendered for software with advanced report and accounting functions. Zavanti was our chosen solution based on their complex custom reporting capabilities and comprehensive accounts payable system. The system is centralised, so we’re able to keep closer control of our investments and base our corporate decisions on real-time information. Zavanti software has proven invaluable in this instance.
Q2: What are the main benefits of Zavanti software to MAB?
For us, it's that the modules all talk to each other. The integrated nature of the software reduces time spent interpreting a situation, and increases our ability to make clear and confident business decisions. Specifically, a key feature of the financial management module is the system of authorities and budget limitations. Being able to predefine the limits of authority has meant we are more efficient in our accounts payable and budgeting
processes. The system offers increased control in one central system providing timely and accurate information. This is clearly the way to go for a growing company.
Q3: Can you give us a specific example of how Zavanti have helped you gain efficiencies in your business?
Our end-of-year accounts. Before Zavanti, we used a system that was mainly spreadsheet based that constituted a lot of manual input and verification. Much of this is now completed automatically, and compiling reports and information takes half the time and energy than previously; in short, it just saves money. With regards to our accounting procedures we are have much greater functionality available than with our previous systems.
Perhaps one of the greatest benefits we ve noticed from the change in our processes is the increasing confidence our shareholders have in the business. With improved governance mechanisms in place, we are able to make confident business decisions.
Q4: Do you have any words of advice when choosing a software provider?
Theres two things that we look for when selecting software. Firstly, the software needs to be ready to go, we like to know that other organisations are already using it successfully and that all the bugs have been ironed out. Secondly, the software must have scale. Our company is growing and we need to know that our software solutions can grow with us, regardless of how many extra projects we take on.
Q5: What does the future look like for MAB Corporation?
We've got a $2bn pipeline of property development projects to deliver over the next decade, so we need robust systems to support the business. Our working relationship with Zavanti is great and we receive good support whenever we need it. The nice thing is that IT isn't a key issue for us right now - it used to be a problem area, but now it just works, our processes and systems run smoothly, and we can get the data that we need quickly and efficiently, so it lets us focus on our core business.
MAB Corporation (MAB) is a privately owned Australian property development company operating out of the Melbourne area. MAB has activities in residential, retail, industrial and commercial developments, as well as a funds management business with approximately $250 million under management.