March 1, 2023

Key-man risk drives Yenda to seek a secure digital registry

The Yenda Producers’ Co-operative Society Ltd is one of Australia’s oldest continuously operated co-operatives and one of its largest by annual turnover. Operating as a group, the co-operative provides professional services, advice and agricultural supplies such as fertilisers, chemicals, seeds and hardware.

Established in 1925, Yenda has a turnover of $147 million with 2,000 members.

Yenda ran their member management and rebate systems in-house on bespoke programmes for many years. This ‘of their time’ set-up was not broken but was part of antiquated systems that management was focused on modernising.

“Our clients run mature businesses that deserved a more professional service and solutions.” - Anthony Nehme, Company Secretary, Yenda.

After a decade-long search for the right system, it was BCCM who introduced Yenda to Syndex in 2022. Noting Syndex’s size, history with other co-ops and the data security on offer, Yenda knew their search to professionalise this part of their operations had come to an end.

Outmoded systems in need of an overhaul

Yenda’s original systems were designed and managed by an IT specialist 30 years ago. Once ‘cutting edge’ this system was aching with complexities and a heavy admin load, often only maintainable by its creator. This resulted in a key-man risk.

Member communication was predominantly paper-based, creating laborious and costly processing with a frustrating postal lag. Document storage, such as certificates and tax statements was also paper-based and therefore meant a manual retrieval, scan and email or post.

Peace of mind from efficiencies and automation

Yenda has enjoyed the instant benefits of using the Syndex platform. Yenda’s members have access to a member portal where they can see documents, certificates, statements, AGM notifications etc.

“We are reaching that point where no member calls to say ‘I have not received X’, it’s all in the portal.” - Nehme.

All communications are tracked in the portal and members can see their portfolio in their own time.

“With a recent rise in share capital limits the shares they hold are significant enough for members to need to be able to see their info quickly, now they can!” - Nehme.

The latest rebate and distribution process, which was once a mail-out exercise (estimated at $3-4 per member), was a slick digital experience that saved time, money and paper.

“With Syndex it’s easy to recover costs $ for $ through efficiencies, but for us, it’s more about the professionalism we can now offer to our members.” - Nehme.

Getting started, to tailored solutions

Yenda’s experience of joining Syndex was seamless; from discussion to signing an agreement, onboarding to training, over a few months. The Syndex team took time to understand the nuance of their data, such as how their point of sale records was reconciled.

The Syndex team looked at logjams in workflows and sought innovative solutions to offer efficiencies. Examples include taking the time to understand the ATO reporting requirements and collating appropriate reports for easy submission and understanding the information required as part of the rebate system. 

“We wanted automation in these processes, especially critical when timeframes require a quick turnaround.” - Nehme.

A new Yenda team administrator is now the new custodian of the data and uses the platform confidently following a few training workshops.

Yenda are looking to grow, having just entered a new region of North East Victoria. This aspect of their operations can now withstand additional members, complexities and scale up with ease.

‘We know there are additional Syndex services that we can tap into in the future.”

It’s a great system that has given us everything we need.”

Case Study

Search for more case studies in Insights.

Sign up to our investor newsletter

Sign up here and we’ll keep you informed of the latest investment offers and news, including exclusive opportunities, as they are listed.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.