As QSuper transitions to providing superannuation (retirement fund) management for a broader range of customers, the demands of a more competitive market suggested the need for change. “We wanted to improve operational efficiencies, primarily by streamlining our back-office functions and reducing cost,” says Scott Edie, manager of application, technology, and security architecture. “The overarching business goal is to become close with our customers.”
As Mr. Edie explains, QSuper’s challenges include application silos created by various business functions running separate operations and point-to-point interfaces that made for a brittle integration infrastructure and disjointed communications. “Every time we want to change something, it becomes very difficult. The architecture brings a lot of complexity, and we risk either not delivering solutions for the business or delaying their delivery,” he says.
“There are really two costs related to disjointed communication channels. The first is that it affects customer experience, which leads to loss of customers. And the second is inefficiencies in communications, which means we might end up sending multiple communications when there’s only a need to send one. At the end of the day, that just adds cost.”
“The partnership with TIBCO provides a solid foundation for our services-oriented architecture, which means we can deliver better service to the customer,” says Mr. Edie. The company implemented TIBCO ActiveMatrix BusinessWorks™ integration platform and TIBCO ActiveMatrix® BPM business process management software. “TIBCO allows us to drive excellence in delivery of customer service and efficiencies in back-office processing,” he says.
Flexibility, Efficiency, Visibility, and Reduced Cost
“Our services-oriented architecture is much more flexible than the old brittle integration architecture we had,” says Edie “There’s been a marked improvement in the way we respond to changing conditions and deliver new products and services. The flexibility to change processes is critical because we have a changing regulatory environment. When the regulation changes, we need to change the way we manage our clients. We now get much better solutions, and the cost of delivering them goes down, plus our time to market, our responsiveness, is much better.”
QSuper has been able to eliminate functional silos. “Reducing the footprint of IT within our organization reduces our overarching management costs,” says Edie. “Visibility is extremely important. It allows us to control what gets delivered throughout all of our development and production environments so that everything complies with the defined standards.”
Better Customer Experience and Retention
“The delivery of a single view of the customer will markedly improve our customer experience. It will provide that authoritative source of information to support personalization and drive down cost,” says Edie. “It will make processing of member requests more efficient, and customer retention will improve because we’ll be able to deliver a more seamless experience. We can make sure that our member is receiving their communications on their preferred communication channel.”
“The foundation we have with the integration platform is going to allow us to drive towards greater personalization for our members,” says Mr. Edie. “We can also undertake a number of transformational initiatives, such as expanding our product set to include QSuper-branded products from third-party providers and integrating our advisory and superannuation businesses to support retirement adequacy for our members.”