McCormick Harris Insurance
McCormick Harris Insurance (MHI) is an insurance broking business that has grown from one site in Bendigo to multiple office locations and thousands of clients across Australia's east coast.
Previously, each office had to manually receipt payments, physically depositing cheques and cash, then be reconciled and overseen by the finance manager in the head office.
"The manual process wasn't convenient for our clients or our staff. We were worried about accuracy and we wanted to centralise payments so staff in all offices could focus on servicing clients," explains Tony McCormick, Managing Director, MHI.
When his previous bank closed down several regional and suburban branches, he decided to look for a better solution.
"We'd been talking with Macquarie for a few years, and we'd got to a stage where they provided us with the perfect client payment solution for clients and our needs," recalls Tony.
MPP, Macquarie's automated payment reconciliation system, was a key part of that solution. "The transition was perfect – it integrated with our management system, and we started seeing the benefits almost immediately."
The Macquarie difference
Tony estimates savings of at least "half a staff member – and that's conservative." Over the years, we have continued to grow and add offices without adding to the administration burden.
As other banks close branches, MPP provides us with an excellent payment solution that suits the needs of us and our clients perfectly.
"If I looked at all the savings, including time, we'd be miles in front of where we were." He says giving clients different options for payment also helped to improve customer service and reduce time spent chasing payments or serving clients in the offices that had to come in to only make a payment. It also gives the finance manager the flexibility to work from home or any office as needed which allows for great flexibility.
Tony estimates about 1,000 payments a month are made through the network. "The great thing about this system is we can keep growing in both client and office numbers and not have any concerns about changing the way our clients pay us."