Benefits

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AS THE INDUSTRY EXPERTS IN PROCUREMENT, WE PROVIDE OUR MEMBERS WITH WIDE-RANGING BENEFITS: 

1.OPTIMISE SAVINGS

MUTUAL MARKETPLACE IS ALL ABOUT GETTING THE BEST DEAL FOR OUR CREDIT UNION PARTNERS.

REDUCED INPUT TAX CREDIT (RITC) SAVINGS
Because Mutual Marketpalce is a procurement specialist created for the credit union industry, we enable partner credit unions to fully utilise the RITC savings. You could get a $3.50 saving for every $10 in GST paid on any procurement expenses incurred through Mutual Marketplace.

ECONOMIES OF SCALE & EXPERTISE
With our extensive network of suppliers, we can achieve discount rates well beyond the capabilities of a single credit union.

FY19 RESULTS
Across the Mutual Marketplace customer group, there was an aggregated procurement spend of $131 million.
This delivered $18 million in contract savings to our current credit union customers. This does not include the GST savings of 75%.
That’s an average 13% saving to our customers.

2. REDUCE RISK

OUR COMPLIANCE SPECIALISTS ENSURE BEST PRACTICE FOR OUR CUSTOMERS.
In an ever-changing financial landscape, the hazards of non-compliance are many and varied. With services including invoice processing, milestone management and payment reconciliations, our customers enjoy a reduced risk of non-compliance, providing greater peace of mind.

In an ever-changing financial landscape, the hazards of non-compliance are many and varied. With services including invoice processing, milestone management and payment reconciliations, our customers enjoy a reduced risk of non-compliance, providing greater peace of mind.

APRA COMPLIANCE
Given the outcome of the Royal Banking commission report released in 2019, APRA are increasing their regulation of the Australian financial system. For instance, with the introduction of APRA Prudential Standard CPS 234 around the threat of cyber-attacks, CPS 231 addressing the outsourcing of a ‘material business activity’, plus ensuring the Modern Slavery Act is respected and followed along the supply chain, compliance is becoming increasingly complex.

IS IT WORTH RISKING YOUR REPUTATION WITH NON-COMPLIANCE?
A reputation that’s taken years to build can be tarnished in an instant with a compliance oversight. That’s where our dedicated team of compliance experts can save you a lot of hassle and pain.

3. EXPERTISE & BEST PRACTICE

TAKE ADVANTAGE OF OUR FULL OUTSOURCE PROCUREMENT SUPPORT SERVICES.
Currently in the Australian credit union industry, dozens of different companies and staff are used to manage the many procurement practices. This siloed approach leaves each executive manager and procurement officer to do a lot of the leg work, joining the dots on their own and missing out on opportunities.

Our dedicated team of experts provide beneficial insights and efficiencies, all the while ensuring adherence to procurement best practice, saving you valuable time, resources and money.