Synchronised Software will reduce the licence fees for its Capital member admin system by roughly 20 per cent for 2009/10, an action the company attributes to the scale gained by taking on Superpartners as a client.
Superpartners is targeting a January 2010 live date for CapitalX, SyncSoft’s newly-developed platform, as part of a $70 million investment in its core administration systems bankrolled by major clients/owners AustralianSuper, Cbus, HESTA, HostPlus and MTAA Super.
Indian-owned Tata Consulting Services will be responsible for transferring data on Superpartners’ six million member accounts and 700,000 employers from the administrator’s eight legacy systems in to CapitalX, as well as a yet-to-be-announced ‘enterprise resource planning solution’ (basically an accounting platform, for which SAP is widely expected to be the vendor).
SyncSoft managing director, Rory Wainer, said there would be 10 million accounts on either CapitalX or older versions of Capital following the implementation at Superpartners, meaning cost recovery at each client fund would occur at a lower number of members, allowing for significant reductions in licence fees.
Wainer said CapitalX would facilitate fully electronic contributions from day one, and Superpartners chief executive Greg Camm hoped a more user-friendly system would encourage employers to play ball.
“Superpartners processes about $1 billion in superannuation contributions every month, and over 80 per cent of these are paper based. We’re aiming to be 100 per cent electronic by 2011. We receive about 80 tonnes of paper mail every year, and by promoting online contributions we’ll make an impact beyond just efficiency for its own sake,” he said.