Staffware, a business process automation company, has been awarded a contract valued in excess of lb1 million in conjunction with EDS for the Commonwealth Bank Group of Australia (CBGA). The bank, Australia`s largest financial services company, plans to deploy Web-enabled workflow systems across the entire organisation.
The workflow system is expected to improve efficiencies in the group`s processing capabilities. With the group already at world`s best practice for loans processing, this robust, scalable and flexible platform will facilitate self-service functionality for customers into the loans application, funds management and insurance processes.
Russell Scrimshaw, Head of Technology, Operations and Procurement for the group, said: "This Web-enabled workflow contract will enable us to be global, around the clock and paperless. For example, a piece of correspondence will be scanned when received and then accessible for any bank-related operation. For us, it means improved efficiencies across functions including account access, settlement and credit checks and for the customer, it means simpler, easier and faster service."
John O`Connell, Chair and CEO of Staffware Plc, stated: "We are delighted that CBGA and EDS have selected our workflow technology to spearhead the drive to achieve higher levels of customer service. This new solution can be delivered through any channel, be it a branch, the Internet, over the telephone or at an ATM. At the same time, it will improve the bank`s cost to income ratios.
"The system will enable an end-to-end view of many functions of the Commonwealth Group, from loan and credit card applications to merchant and retail applications. It will improve the visibility and management of all stages in these processes.
"Internet technology is revolutionising the banking industry and we have proved Staffware can play an integral role in assisting organisations looking to move their business processes online, with our Web-based workflow processes."
Staffware and EDS have worked together previously, especially in UK Government, providing opportunities for organisations looking to improve speed-to-market for new products, cost management and ongoing productivity improvements. This latest contract extends that relationship into other vertical markets and geographical areas.
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Staffware is the founder of the business process automation industry specialising in workflow automation and e-business solutions. Staffware`s software, which automates, manages and streamlines entire business processes, already has 1.5 million licensed users across the world in industries including banking, insurance, telecommunications, utilities and government for their Enterprise wide applications.
Managing the process of e-business, Staffware also develops integrated solutions for the e-CRM, e-banking, e-procurement and new product development markets. This enables its customers and partners to achieve measurable benefits from its solutions spanning enterprise and Internet applications globally.
Staffware is one of Europe's Top 500 fastest growth entrepreneurial companies, according to a GrowthPlus Survey. In addition, Staffware was listed in the Top 5 of UK Entrepreneurial Software Companies; 5th on the Employment Index and 4th in terms of revenue growth.
Staffware employs over 400 people worldwide with offices in 19 countries supported by a global network of partners covering all major business centres of the world. It has grown six-fold in the last five years.
Commonwealth Bank Group of Australia
Based on domestic operations, the Commonwealth Bank Group is Australia`s largest financial services company. It is the leader in domestic retail banking (customers, outlets, lending, deposits) and in both wholesale and retail asset management and third in life insurance assets.
It is an international company, operating in Europe, the US, Asia and the Pacific. The offshore operations largely concentrate on institutional banking, insurance and managed funds businesses.
The group is Australia`s leading provider of traditional and online financial services, with more than 135 000 outlets servicing about 10 million customers, of whom more than one million access online facilities through Netbank, ComSec and other online funds management and business banking services.
The group is Australia`s largest fund manager with $79 billion in funds under management (as at last reporting date, 31 December 2000).
More than 250 million cheques and vouchers are processed each year, including those for the Reserve Bank of Australia. Over 17 1/2 million customer banking and loan accounts are maintained.
The integration of the Colonial businesses into the Commonwealth Bank was successfully completed in June 2001, 12 months after the Bank`s acquisition of Colonial Ltd. This has provided the bank with a more diversified mix of business operations and revenue streams.
The bank is in the top 10 capitalised stocks on the ASX and is also included in the Morgan Stanley international stock index, the MSCI.
EDS
EDS, the leading global services company, provides strategy, implementation and hosting for clients managing the business and technology complexities of the digital economy.
EDS brings together the world`s best technologies to address critical client business imperatives. It helps clients eliminate boundaries, collaborate in new ways, establish their customers` trust and continuously seek improvement. EDS, with its management consulting subsidiary, AT Kearney, serves the world`s leading companies and governments in 55 countries.
EDS reported revenues of $19.2 billion in 2000. The company`s stock is traded on the New York Stock Exchange (NYSE: EDS) and the London Stock Exchange. Learn more at www.eds.com
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