Australia’s Queensland Treasury Corporation (QTC), the Queensland Government's central financing authority, has gone live on Wolters Kluwer’s integrated OneSumX Finance, Risk, and Regulatory Reporting platform. QTC chose the solution to further enhance the authority’s strategic data and reporting capabilities while advancing its technology capability to meet market demand for their products and services.
The OneSumX solution provides QTC a fully integrated data environment with the necessary controls to interrogate, verify, and review information across the spectrum of their business. It takes on data from the organization’s strategic Core, Treasury, Finance, and third party systems to enable a full framework for reconciled reporting across risk and finance. The organization also chose OneSumX for its ability to provide detailed data management and risk calculation, supporting Market, Credit and Liquidity Risk, as well as Asset and Liability Management. The authority will also take advantage of the trading subledger functionality, full audit trail, user workflow management and data workflow management functionality.
Philip Noble, chief executive of QTC, believes OneSumX will allow QTC to manage increasing demands from clients and meet the additional reporting requirements of the State. “Wolters Kluwer’s experts and consultants consistently demonstrate the knowledge, technical expertise, understanding and flexibility to meet our targeted outcomes,” he said. “We have worked together in true partnership to achieve these outcomes and longer-term benefits for the business under our prescribed budget and challenging deadlines.”
James Stewart, managing director of Asia Pacific for Wolters Kluwer’s Finance, Risk & Reporting business said, “Queensland Treasury Corporation aims to sustainably keep in step with market reporting requirements while also conforming to its target of a value product set for their clients using a best in class operating model and control framework. Leveraging on our local and global implementation experience, the Wolters Kluwer team worked closely with the QTC experts to establish a robust solution designed to fulfill QTC’s needs for the long term.”
“From the start, Queensland Treasury Corporation was forward-looking and anticipated that reporting requirements would grow,” noted David Rule, account manager for Wolters Kluwer’s Finance, Risk & Reporting business in Australia and New Zealand. “As such, QTC was keen to engage a software firm that could implement a holistic solution to meet their developing needs. This milestone is a testament to their vision and we are proud to have helped bring that about.”
Wolters Kluwer Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer which provides legal, finance, risk and compliance professionals and small business owners with a broad spectrum of solutions, services and expertise needed to help manage myriad governance, risk and compliance needs in dynamic markets and regulatory environments. The division’s prominent brands include: AuthenticWeb™, Bankers Systems®, BizFilings®, Capital Changes, CASH Suite™, CT Corporation, CT Lien Solutions, ComplianceOne®, Corsearch, Expere®, GainsKeeper®, LegalVIEW®, OneSumX®, Passport®, TyMetrix® 360, Uniform Forms™, VMP® Mortgage Solutions and Wiz®.
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2015 annual revenues of €4.2 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.
QTC provides a range of financial services to the State of Queensland and its public sector entities, including local government. It is an authorised issuer of High Quality Liquid Assets (HQLA’s) to institutional and individual investors.