Sydney, 7 March 2006 -DST International (DSTi) - the leader in business solutions for the financial services industry - today announced that Colonial First State will upgrade to HiPortfolio/3, the leading investment management platform, in a move designed to improve operational processes and efficiencies.
Colonial First State has responsibility for the management and administration of over A$100 billion globally as at 31 December 2005.
In addition to the HiPortfolio/3 upgrade, Colonial First State will implement a number of new HiPortfolio modules to gain greater functionality in its accounting and tax reporting operations, according to Chief Financial Officer, Henry Capra.
"The upgrade to HiPortfolio/3 will provide more flexibility and add to the efficiency of our business. HiPortfolio/3 and the new modules will enhance system security to further strengthen the effectiveness of our operational processes. It will also give us better reporting and greater data extraction capabilities," Mr Capra said.
The decision to upgrade followed an evaluation of other solution providers against HiPortfolio/3.
DSTi Australia and New Zealand CEO Ian Mathieson said: "Colonial First State's move to HiPortfolio/3 reflects the business value it brings to their operations as a flexible solution that supports global and local accounting requirements. HiPortfolio has been adding value to Colonial First State's business for some time. We are proud they have extended their commitment to our scalable solution as their business continues to grow."