CTS is organised as a global business supporting all Computershare’s
technology needs. Its role includes the support of existing systems
as well as the ongoing development and implementation of innovative
technologies to achieve further efficiencies and cost savings throughout
our businesses.
THE YEAR IN REVIEW
This has been an intense year for CTS with a wide range of applications
delivered into the global businesses. The level of our activity
over the year has resulted in a marginal increase in technology
costs (3.3%) over last year. Similarly, numbers of full-time employees
were up 5% on last year, many of whom were part of the acquisition
of EFA International in Canada. Staff turnover remains at a satisfactory
level of less than one per cent.
As a result of this investment, the implementation of our technologies
is providing our businesses throughout the world with the means
for gaining efficiencies and savings that are eminently sustainable.
The most significant systems implementations during the year include:
- Four key migrations of businesses onto Computershare technologies
were completed in Hong Kong, USA, Canada and South Africa. Systems
servicing those regions were developed to meet local requirements
and to interface with local settlement systems. The completion of
migrations in Canada and the USA has largely eliminated our exposure
to external bureau fees and means that the bulk of our businesses
are now operating on a common platform and are presented via a common
web interface to both clients and their shareholders.
- The launch and ongoing roll out of our new options management
and dealing platform in the UK, USA and Australia. Through fully
integrated web and IVR interfaces, Computershare can now offer
global companies and their employees the ability to view and exercise
options, sell resulting shares and receive multi-currency payment.
- Supporting the options platform and other initiatives, CTS
continues to develop the fully integrated dealing system which
interfaces with our proprietary order routing and management technology
to place buy or sell orders through the appropriate international
market. The dealing system supports multi-currency payment and
facilitates settlement of transactions in the appropriate market.
This significant development continues to evolve from its initial
implementation in the USA and has recently been implemented in
the UK. The system is accessed by a number of products which are
offered in a straight-throughprocessing environment through the
web, IVR and requests received by operations staff.
- A new global product, PORTIS, delivers a consolidated global
register view to companies whose share registers are split across
countries as a result of multiple listings. This unique web-based
tool was developed as a result of the needs of our global clients
and utilises global infrastructure, all possible due to Computershare’s
common technology platform.
- In continued rationalisation efforts, CTS implemented a new
fixed interest management and administration system in Australia
and New Zealand. This enhanced system has already opened up a
more lucrative market for our existing businesses.
- InvestorPhone uses a range of our technologies to provide efficient
and effective services to shareholders. It significantly enhances
the management and efficiency for incoming and outgoing telephone
calls. This service was first implemented in the US and later
in Australia. Plans are well advanced to implement this service
in the UK later in calendar year 2003.
- Significant R&D spend continued on three crucial developments
that bring sustainable efficiency gains into our businesses during
the course of the year. Workflow, Document Storage Systems (DSS)
and Electronic Data Capture (EDC) are now implemented globally.
Workflow and DSS cater for the ‘white paper’ needs of our businesses
(letters from shareholders etc) while EDC delivers high volume
scanning capabilities for the processing needs of medium to large
companies.
- Markets Technology, the group that provides a variety of technology
solutions to stock exchanges, regulators and brokers has had a
successful year that was augmented by the purchase of the assets
of a key competitor. Full details of this group are contained
in a separate section of this Concise Annual Report.
FOCUS FOR THE COMING YEAR
- To continue to control IT costs and where appropriate make
permanent reductions.
- To ensure that technology delivers the full potential of our
global model to issuers, their employees and their shareholders.
- To further finesse our employee plan technologies.
- To continue to web-enable applications for both issuers and
investors and refine the services that are currently deployed.
- To maintain the investment in our staff and ensure they have
the tools and knowledge they require.
- To review and enhance our global data communications network.
- To constantly monitor resource levels to ensure that we can
continue to deliver benefits to the business while remaining sensitive
to costs for our shareholders.
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