HESTA has announced it will bring its key finance systems, including its general ledger, in-house as part of a “digital transformation project”.
The local super fund said the move, which will be pushed through by TechnologyOne’s SaaS, will streamline financial reporting and “create a better business partnering experience”.
“Partnering with TechnologyOne will help us to drive this initiative that supports the continuous improvement of the efficiency and effectiveness of our operations,” HESTA CFO, Megan Bolton, said.
“That ultimately benefits HESTA members.”
TechnologyOne chief executive Ed Chung added that the COVID pandemic has encouraged change and innovation within the financial services sector.
“There are many organisations, in the financial services sector especially, for whom the application of modern, natively-integrated SaaS based technologies can offer increase productivity, improve resilience and deliver stronger cybersecurity,” he said.
“Many organisations like HESTA are taking the opportunity to ‘build back better’ and we are proud to be working with one of the country’s most well-respected super funds on this important digital transformation journey.”
The project is expected to be completed later this year.
The ifa Excellence Awards are back in 2021 and nominations are now open! This prestigious accolade recognises exceptional professionals within the financial advice industry, shining a light on the outstanding achievements from the nation's best and brightest. If this sounds like you or someone you know, then nominate today for the ifa Excellence Awards 2021!
Dimensional has announced the launch of one of the first local funds to apply an ESG filter to emerging markets. ...
Prime Minister Scott Morrison has said reinstating JobKeeper would not be a solution to the immediate assistance required by business in the...