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.