IQ Business Group is hoping to attract Australia’s superannuation industry to a cloud solution, with the launch of its iqCloud platform. The solution has been crafted to comply with the industry’s regulatory requirements, including security and privacy, risk, and audit rules. Running at Sydney and Melbourne data centres, …
Don't see the point
I can't understand why anyone would bother. The Australian superannuation industry is massive with seemingly never-ending inflows of cash due to the 9% compulsory contribution (that may well be increased in time to 12%) and is therefore capable of rolling its own (either in house or customising) rather than clouding it up with unknown consequences and no point of differentiation. This is what is offered...
The iqCloud is able to offer a number of IQBG solutions:
iqBoard -Trustee and sub-committee Board Papers and Meeting Management
iqClaims - Case Management for Insurance Claims
iqDQ - Data Quality Analysis and Management
iqArchive - A data archive solution for legacy systems
iqSBR - A Standard Business Reporting translator
No real information could be found on the sight by searching for these "offerings" other than that iqBoard is built on Sharepoint. Great, can't wait.
Dear "Anonymous Coward",
The reason companies are bothering with a solution like this is that:
- it offers tremendous productivity improvements around the secretariat processes of managing Boards and Committees
- how a company manages it's Board meetings is not a high priority point of differentiation for the company
- the Superannuation industry is highly regulated and most existing "cloud" providers do not meet the stringent requirements
These are just a few reasons why it makes sense to utilise the "cloud" model of shared infrastructure and a solution such as iqBoard. It would be much more expensive for Superannuation Funds to do it themselves.
Just because there are compulsory inflows to Superannuation is no excuse for companies to be flagrant in their spending.
CEO, The IQ Business Group