The local super fund said the move, which will be pushed through by TechnologyOne’s SaaS, will streamline financial reporting and “create a better business partnering experience”.
“Partnering with TechnologyOne will help us to drive this initiative that supports the continuous improvement of the efficiency and effectiveness of our operations,” HESTA CFO, Megan Bolton, said.
“That ultimately benefits HESTA members.”
TechnologyOne chief executive Ed Chung added that the COVID pandemic has encouraged change and innovation within the financial services sector.
“There are many organisations, in the financial services sector especially, for whom the application of modern, natively-integrated SaaS based technologies can offer increase productivity, improve resilience and deliver stronger cybersecurity,” he said.
“Many organisations like HESTA are taking the opportunity to ‘build back better’ and we are proud to be working with one of the country’s most well-respected super funds on this important digital transformation journey.”
The project is expected to be completed later this year.
Neil Griffiths
Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.
Neil is also the host of the ifa show podcast.
