Media Release
TOWER Automates Enterprise Performance Management
with PeopleSoft Balanced Scorecard
Auckland, 11 December 2001 – TOWER Corporation expects to improve overall organisational performance thanks to its
implementation of PeopleSoft Balanced Scorecard. Balanced Scorecard, a major component of PeopleSoft’s Enterprise
Performance Management (EPM) suite, provides detailed information and ‘at a glance’ details of how divisions and
individuals within them are performing, developing and learning.
TOWER’s implementation of Balanced Scorecard commenced in September in a phased rollout across the corporation’s eight
subsidiary companies in New Zealand and Australia. The system delivers strong return on investment through simplified
production processes and ensuring accuracy and timeliness in reporting. Phase one of the project will affect 150
employees but over two years TOWER’s entire workforce in New Zealand and Australia will have access to the system. Aside
from financial analysis, the system also evaluates customer interaction, company operations, and the learning and growth
of employees in a fully standardised environment that ensures all subsidiaries can conform to the corporate standard.
This means reduced resource requirements.
TOWER Financial Services’ Group Manager of Business Systems, David Hannah, says, “Up-scaling to a completely automated
mechanism for managing and measuring performance represents major advantages in providing an enhanced overall
performance picture of TOWER for senior management.”
“Over the past four years Balanced Scorecard has become a critical component of TOWER’s performance metrics. Now, with
the incentive to regularly set concrete targets for performance in the financial, organisational, employee and customer
areas and the means to continually and promptly measure results, the ability to add value has been significantly
increased.”
“The key advantage of an automated Balanced Scorecard tool is the ability to evaluate and rationalise performance-based
data from across the organisation and integrate findings with strategic management objectives in a time-critical
manner,” continues David. “Implementing PeopleSoft Balanced Scorecard will empower senior management to utilise the
information gathered and ensure it is effectively filtered down through staff levels.”
TOWER previously used a manual, paper and spreadsheet-based form of the Balanced Scorecard, developed in-house and
implemented in 1996. Although it provided a comprehensive insight into performance across the company, the lengthy
process of collating materials and statistics often resulted in reports that were produced too late to provide full
value.
“The move to a completely automated version of Balance Scorecard will not only provide more accurate and timely data
updates, but with a phased introduction of the system, all subsidiaries will maintain an equivalent level of automation
and consistency,” says David Webster, Managing Director New Zealand and Australia.
Completion of a fully automated Balanced Scorecard across all subsidiaries is expected in 2002. PeopleSoft will provide
most external consulting and support services.
About TOWER
TOWER Group has been one of the fastest growing financial services businesses in Australasia for more than 10 years.
Through a successful policy of organic growth and strategic acquisitions and mergers, TOWER has established itself as
one of New Zealand's most dynamic companies. It currently has NZ$22.1 billion in-group assets under management.
TOWER continues to rapidly expand its activities and build its position as a strong competitor in insurance, savings and
investment, asset management and trustee services markets.
Within the past six years, TOWER has also developed a strong and growing presence in the Australian market. Today, over
70 percent of TOWER’s revenues are generated from outside New Zealand.
About PeopleSoft Inc.
PeopleSoft (Nasdaq: PSFT) is the world's leading provider of collaborative enterprise software. PeopleSoft pure Internet
software enables organisations to reduce costs and increase productivity through collaboration with their customers,
suppliers, and employees. PeopleSoft's integrated, best-of-breed applications include Customer Relationship Management,
Enterprise Service Automation, Supply Chain Management, Human Resources Management, Financial Management, and Enterprise
Performance Management. More than 4,700 organisations in 107 countries run on PeopleSoft software. For more information,
visit us at www.peoplesoft.com.
PeopleSoft began operations in Asia Pacific in 1993 and now has offices in Sydney, Melbourne, Canberra, Perth, Brisbane,
Adelaide, Auckland, Wellington, Singapore, Hong Kong, Malaysia and Taiwan. Its customers include AAP, AMP, ANZ,
Australian National University, Australian Stock Exchange, Bangkok General Hospital, Coles Myer, Department of Defence,
Eastern Energy, Ford, Foxtel, Government of Singapore Investments Corporation, HSBC Holdings, John Fairfax Holdings,
Mass Transit Railway Corporation (MTRC) Hong Kong, National Mutual Health Insurance, NZ Police, NZ Post, UNITEC, Reserve
Bank of Australia, Reding Paper Products, Transfield Pty Ltd, University of NSW, Hewlett-Packard, Citibank, AMD, DBS
Bank, PSA Corporation, Singapore Ministry of Finance, Morrison Express, Singtel, Starhub, Tenaga Nasional, Telekom
Malaysia and Swire Properties.
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