Superannuation fund Statewide has entered into an agreement with Bravura Solutions to introduce new software, as well as extend an existing product license.
"We were looking for a single platform to administer our current products, that would also grow to accommodate future additions," Statewide chief executive Frances Magill said.
Implementation of Bravura's Sonata Pensions and Sonata Investments recently began at Statewide, with the development and implementation of Sonata SuperB to follow, in the next financial year.
Statewide will be the first superannuation trust recipient of the solution, according to Bravura.
Increased functionality will promote significant benefits across core products such as superannuation, pensions, unit trusts and online services, and meet Statewide's administrative and reporting requirements, Bravura said.
"A number of other companies are also in the process of upgrading from their current legacy systems, to benefit from increased operational efficiency and decreased total cost," Bravura chief executive and managing director Iain Dunstan said.
Sonata SuperB will cater for defined benefit and contribution corporate superannuation plans, with the addition of service-orientated architecture benefits, Bravura said.
Sonata Pensions and Sonata Investments will also allow companies to achieve significant cost savings and quality improvements, Dunstan said.
