http://spectator01.businessspectator.com.au/news/2013/11/26/financial-services/supers-face-it-project-blowout
http://www.afr.com/p/technology/botched_it_project_costs_superannuation_7sKqjMy4TlQ10wPCdFBSwN
The IT development cost of building a superannuation administration platform was highlighted in the AFR and Business Apectator today. The industry superfund administration firm Superpartners, is in the news for a huge IT cost blow out trying to launch a new system to replace their current administration systems. It appears the new system will be delivered 4 years late and massively over budget.
It's not a completely fair comparison, as part of the $250m Superpartners will be spending will be used for data-migration, but it does highlight how much value the HUB24 IP actually provides. It's fair to say Superpartners could have saved themselves a lot of heartache by instead partnering with a recognised super administration leader and licensing the HUB24 technology instead of 'going it alone' .
Legacy upgrades like this are becoming extremely common in the industry and are a huge and expensive issue for many super administrators. With the Platform space pretty much locked down by the banks, there are very few independent alternatives to turn to should a provider wish to avoid Superpartners fate. HUB is exceptionally well positioned to benefit from shift. I would just prefer they license the technology, not sell the business. $60m appears very cheap when you look at how much Superpartners have just spent on something that doesn't work.
- Forums
- ASX - By Stock
- botched it project costs superannuation funds
http://spectator01.businessspectator.com.au/news/2013/11/26/finan...
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add HUB (ASX) to my watchlist
(20min delay)
|
|||||
Last
$63.04 |
Change
-0.760(1.19%) |
Mkt cap ! $5.160B |
Open | High | Low | Value | Volume |
$64.20 | $64.72 | $62.56 | $8.266M | 130.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 16 | $63.04 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$63.05 | 2 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 9 | 63.020 |
5 | 60 | 63.010 |
3 | 14 | 63.000 |
2 | 36 | 62.990 |
4 | 60 | 62.980 |
Price($) | Vol. | No. |
---|---|---|
63.040 | 11 | 2 |
63.050 | 9 | 1 |
63.090 | 38 | 2 |
63.100 | 1289 | 5 |
63.110 | 25 | 1 |
Last trade - 13.44pm 14/10/2024 (20 minute delay) ? |
Featured News
HUB (ASX) Chart |