Australian owned and operated foreign exchange retailer, Travel Money Group, has implemented the GTS Analytics solution from IMX Software to provide its management team with accurate and timely financial and performance reports wherever they are. Travel Money Group operates in 100+ locations across Australia and New Zealand.
The software-as-a-service solution automates the process of extracting management reports from the IMX back-office system that Travel Money Group uses to run its business. Using GTS Analytics, Travel Money Group is able to extract reporting information from the IMX back-office on a scheduled, near real-time basis and easily distribute it to managers at head-office and regional offices.
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Managers are able to see key financial and performance metrics consolidated for all operations in Australia and New Zealand or view consolidated data for regional offices. The GTS Analytics dashboard is displayed on a large LCD screen at Travel Money Group’s head-office, and managers can also access it at any place they have an Internet connection using their PCs or tablet computers. Reports can also be distributed as PDF or Excel files via email.
Says Dion Jensen, General Manager at Travel Money Group: “Before we implemented GTS Analytics, producing management reports was a time-consuming and error-prone manual process that involved extracting data from the IMX back-office and recapturing it in Excel spreadsheets.
“GTS Analytics has eliminated this cumbersome process, giving us a near-real-time view of branch stock positions, at the consolidated and regional level. We have more timely access to information and the ability to make better and faster business decisions, based on activities at our branches and movements in the currency markets.”
With GTS Analytics, Travel Money Group executives have an at-a-glance view of the company’s foreign positions and local currency equivalents, along with the amount of currency traded. The dashboard keeps them up to date with currency inventory information so that they can react quickly when a currency is running low or goes out of stock. They also have a clear view of the company’s exposure to various currencies across all Travel Money Group branches.
Managers also have a near real-time view of foreign cash trading metrics – for example, transaction count, turnover, margin, average gross profit and average transaction value – across the buy and sell directions for each currency. They can view these metrics, for all products, at the consolidated, regional and individual branch levels as well as view metrics for the previous day of trade or the month to date. Key performance indicators allow managers to compare metrics to the previous year so that they can track their performance more accurately.
Jensen adds: “Now, stakeholders can see key information in the form of rich, visually attractive reports when they need it and wherever they are because they don’t need to depend on the accounts department to manually collate and distribute the data. Automating reports has saved us a great deal of time and money.”
“Retail forex businesses need to be able to monitor business performance at a glance and on the move,” says Marijan Miocic, IMX Product Director. “GTS Analytics provides organisations like Travel Money Group easy access to key business metrics so they can make better and faster decisions.”