Syncsoft’s recent successes creates an industry software brain drain

12 January 2009

Wealth management and pensions’ administration software provider SyncSoft has created an industry brain drain over the past six months as a result of its recent successes in the market which have been primarily based on their market leading XPlatform and CapitalX application.

SyncSoft’s new CapitalX wealth management solution has been architected on the latest Microsoft technology as an Internet scale application, adopting an end-to-end Service Oriented Architecture. CapitalX is a complete rebuild of Syncsoft’s market leading Capital administration system, adopting the best of Capital’s proven design features but also introducing a new wave of functional and technical innovations. Amongst the many features that set CapitalX ahead of competitor systems is its unique scale and performance ability with recent independent tests at IBM’s Lab’s in St Leonards establishing CapitalX’s ability to support 10 million members with 3,000 concurrent administrators.

Syncsoft recently finalised an agreement with SuperPartners to replace eight software systems with CapitalX. CapitalX will provide SuperPartners with a new level of efficiency encompassing core administration, data warehousing, customer relationship management, business intelligence and a range of other fully integrated features in a single integrated scalable platform.

The Superpartners project provided a good business basis in 2008 for Syncsoft to supplement its existing extensive skill base with additional highly regarded technical and subject matter experts in the industry, resulting in the company’s headcount growing from 60 to over 90 FTE at a time when competitors are shedding staff.

“Once word got out into the market about CapitalX and SuperPartners, SyncSoft had the luxury of selecting the very best people. In the main, the people that have joined SyncSoft have come from our direct industry competitors or specialised IT firms.” “The new people joining Syncsoft bring with them either many years of financial services experience or deep technical knowledge in the latest Microsoft technologies, and in some cases, both skill sets. It is also pleasing to see the number of former Syncsoft people rejoining the company, and bringing with them experience gained elsewhere, for this exciting phase in the company’s growth”. Said Rory Wainer, Managing Director of SyncSoft.

Some of the recent people to rejoin SyncSoft include:
• Chris Shallcross who rejoined SyncSoft after he gained valuable experience working on wrap platforms. Chris is a key developer in the CapitalX development team.
• Mary Gale who rejoins Syncsoft as a senior Business Analyst after a year’s absence at a start-up software company. Mary is responsible for ensuring CapitalX legislative compliance.
• Chris Padget has rejoined SyncSoft, taking over responsibility for the XPlatform development and brings with him recent experience from a start up industry competitor and from a leading Microsoft consulting firm.

SyncSoft has also been fortunate in recruiting some new staff having extremely valuable industry experience from both software companies and from industry superannuation funds. These include:

• Xuan Nguyen and Dmitri Girski joined SyncSoft’s CapitalX team from a wrap systems provider and they bring extensive insurance and financial services experience.
• Helen Shi brings the CapitalX team valuable financial services and web design experience gained from a leading superannuation software supplier.
• Carl James and Kylie Taylor join our growing customer support team and bring with them years of experience gained with a major retail wealth management software supplier.
• Caterina Toaldo joined SyncSoft from a major industry super fund and brings with her over 12 years of experience in the superannuation industry.

“It has certainly an exciting time for SyncSoft with the company growing at an unprecedented rate and defying the global financial crisis while others in our field of business are contracting or even selling their business. And we have further plans for growth that include additional software products and a possible acquisition.” Advised Wainer.

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