Silica, one of South Africa's leading financial services, technology and business process outsourcing (BPO) providers, has signed to upgrade to DST's AWD10, which will assist the company in improving its business processes by integrating and automating its Third Party Administration (TPA) business.
The upgrade is part of a continuous collaboration to help Silica achieve increased customer service and profitability levels while quickly taking advantage of opportunities in the market.
The business process management (BPM) solution from DST is currently used by Silica's TPA business to handle applications for new investments, transfers, and investor administration on behalf of its clients. AWD10 will underpin a single Web-based user interface, integrated with Silica's underlying administration systems, as well as a central business rules repository.
It will also enable the display of more comprehensive client and instruction information for administrators and external parties such as Silica's clients and intermediaries. This, in turn, will allow these parties to initialise instructions and capture data, as well as track the status of in-flight work.
Michael Prentice, CEO at Silica, commented: “We really value our relationship with DST; they are fully committed to understanding our business as well as helping us to achieve our goals. We are looking forward to deploying the new version of the solution, as it will enable us to deliver a totally new investor and IFA experience and enable Silica to take on new clients more quickly and efficiently, and ultimately optimise our operations.”
Tony Armour, Managing Director of Business Process Solutions at DST, said: “We believe the key advantage of AWD has always been about empowering our clients to manage their processes in a timely and efficient manner. By implementing AWD10, we are confident that Silica will be able to experience the cost competitiveness, speed and agility required to achieve their goals, while benefiting from the expertise, breadth of capabilities and inherent security of a global leader in financial services solutions. Through collaborating closely with our clients, we are able to identify opportunities for AWD to help harness the right resources and technology to deliver optimised process efficiency and customer service.”
DST is a leading provider of software and services to many of the world's best known financial, utilities, telecoms and communications institutions. It is a wholly-owned subsidiary of DST Systems, and serves more than 400 client organisations from 16 offices to support its growing client base.
AWD, its business process management (BPM) application, is a scalable and proven solution which can help organisations to reduce the cost of managing work, improve regulatory compliance and provide better customer service. There are now over 100 000 AWD users within the DST family of companies, partners and clients.
For more information, please visit: dstglobalsolutions.com/awd.
The above information and comments may include forward-looking statements that respect the businesses referenced and their affiliates. Such information and comments are based on views as of today and will not be updated unless required by law. Actual actions or results could differ. A number of factors (including those set forth in the latest DST Systems, Inc. Form 10-K or 10-Q filed with the US Securities and Exchange Commission) could affect future actions or results and should be considered in evaluating any forward-looking comment.