Toyota Financial Services Australia wanted to continue using established business procedures but move away from manual processes and find a more efficient and flexible way to work. Protecht allowed them to streamline their work and continuously improve their processes.
The challenge
The Toyota team were using spreadsheets, Word documents, email and databases to collect and store data. Reporting would take a long time to complete as information was collated from multiple sources and fed into a spreadsheet to produce a final report.
The Toyota team reached a “light bulb” moment when they realised they were reaching a critical mass of volume very quickly with the amount of data and reports they were collecting.
They were replacing Lotus Notes and needed a system that would run reports quickly and smoothly without having to manually trawl through hundreds of files to run a report.
How Protecht helped
“One of our key pillars at Toyota is continuous improvement."
Craig Greenwood, Chief Compliance Officer, Toyota Financial Services Australia
Toyota had a working process in place before utilizing Protecht ERM. Now there is increased control and ownership around the business processes both within his team and across the business. The manual processes have been automated and are now more efficient.
Sample Risk Culture Dashboard from Protect ERM, as used by Toyota
Key benefits to Toyota
The major benefits to Toyota included:
- Reduced human error
- Highly visual reporting
- Time savings
- Automating and consolidating many processes
- A stronger audit trail for auditors
- Improved record management system
- User ability to define system capability
“You have better, fast visual reporting of data and you have greatly reduced human error. It is quicker to pick up information like incidents or trend analysis."
Making the decision
Why did Toyota pick Protecht?
“When choosing a supplier we found that some GRC tools weren’t actually GRC tools - one vendor was all WHS, one of them had such a poor interface and they were quite a big vendor. Some were far too complicated for what we were after.”
Cost was a consideration too. Protecht offered a good value and a good quality solution. And importantly, Toyota found that other vendors didn’t have the flexibility to build a new module and would charge for any additional modules.
“The big thing that you have provided is that the tool is simple and the support that we’ve had has been really good. It has always been timely and efficient, which made it pretty easy for us to get started”.
Protecht plugged the initial system in and worked together with the Toyota team on the initial modules.
“But then literally within the first month we were putting out other registers such as Access Requests, Audit Checks, Legal Requests and more… Evidently, other parts of the business are now using Protecht.”
Sample Audit Register metrics from Protecht ERM, as used by Toyota
Would they recommend us?
Toyota are clear: “We would recommend Protecht. It started as a fairly simple tool but it actually worked, and I think that’s really important. I’d rather have something that’s simple that the users can understand and also does the job it’s meant to do". They also feel that the support provided by the Protecht team in overcoming some of the initial issues has been remarkable.
“We have about 12 modules being used and another half a dozen on the go. I always envisaged that it wouldn’t just be purely a Risk & Compliance tool and other areas such as Finance, Collections, and Wholesale teams would use it for their own business functions and we are now starting to see that happen with Protecht.”
About Toyota Financial Services
Toyota Financial Services Australia’s number one priority is customer satisfaction. With over 30 years’ experience in the market, an extensive network of regional offices and as a leader within the worldwide Toyota Financial Services group, they understand their customers’ needs. Their partnership with the Toyota dealer network means that throughout Australia, Toyota Finance is ready to help.