QMV Super Solutions is an Australian business consultancy that provides services to superannuation and wealth companies. Their services fall within five key areas - platform management, operations, change management, quality management, and business services. They help clients with challenges like compliance, reporting, business processes, program management, data quality, and new business integration.
2. INTRODUCTION
We are anAustralian Business Consultancy
with specialist skills and experience within
the administration systems and processes
used by Australian superannuation and
wealth companies.
In essence, at QMV we manage projects
and deliver complete programs of work for
our clients.
Our services fall within five key areas. Let’s
explore them in detail.
3. PLATFORM
1. Configuration Management
Many changes happen in the superannuation industry; some small,
some large. Regardless of the magnitude, every change impacts a technology
or system.Therefore, understanding the impacts on the configuration is
critical. If overlooked, even a small change can significantly compromise a
process or data integrity with the chance of further impacts affecting
customer satisfaction and business reputation.
QMV are experts in configuring applications and technology to align
outcomes with the business rules of the fund.We can implement a full
configuration management plan to ensure that any system change is
controlled and well considered, prior to the impact on the production
environment.
4. PLATFORM
2. Platform Review
QMV has operational experience and excellent relationships
with the major platform vendors in the Australian market. As such we
can partner with clients to review their current technology against the market
leaders.
Often our clients’ current platform doesn’t effectively support their business
objectives.
The technology may be:
• Unable to support new business acquisition
• Expensive to change or upgrade
• A poor fit with target architecture framework and new componentry
A QMV Platform Review identifies and evaluates technology options that will
increase efficiency and enable innovation in and alignment with the business
strategy.
5. OPERATIONS
1. Compliance Service
In a highly regulated industry subject to frequent change,
compliance is paramount.An error within administration
records can translate into a significant event or breach.These
situations require remediation and notification to the impacted members
which can be costly in both time and reputation.
QMV Compliance services include:
• Analysis of legislative changes and/or the fund rules in order to understand
the impacts on the membership
• Building requirements for the change so that technology, operational,
product and marketing teams can execute the change in a cohesive fashion
• Impact assessment – we review the technology, processes, customers (both
internal and external) to identify the remediation and mitigation actions,
following a breach
Our compliance service enables the fund to take a proactive approach to
validating the ongoing integrity of the administration records, enabling a
measurable confidence in their reporting.
6. OPERATIONS
2. Reporting
In the highly regulated superannuation space, reporting accuracy
is a critical business process. Many funds rely on manual and inefficient
processes to collate data from disparate sources and transform that data into
a specified format.These processes carry a high risk and not repeatable.
QMV provides a service to review and streamline reporting functionality
within an organisation.We review the current state and deliver a central
repository that integrates with core administration systems. We make the
process more efficient, streamlined and repeatable, saving time and costs for
the business at each reporting cycle and delivering a more accurate set of
reports for every requirement.
7. OPERATIONS
3. Business Process Review
We find many operational practices are unclear, undefined, manual,
single-point sensitive and not repeatable.
QMV’s Business Process Review (BPR) is a review of the administration services
and business processes provided by a superannuation administrator to:
• Understand the current state of the administration business
• Assess the scale of their business operations
• Understand the allocation of resources and resource cost per administrative
process
• Identify processes, operational and technologies requiring improvement; and
• Establish readiness for an uplift of services, operational impacts and
technology changes.
Our BPR will uncover areas of inefficiency and opportunity for improvement in your
operations and provide you with the evidence, impact assessment and options to
completely re-engineer or incrementally improve your services. It guarantees the
business acceptance and integration of new technology.
8. CHANGE
1. Program Management Office
Support
A key challenge for any superannuation business with a busy
change program is to manage the dynamics of demand, capacity and
business delivery. A common response is to set up a specialist Program
ManagementOffice (PMO) focused on combining the disciplines of delivery
with the specialist knowledge and experience of local and industry rules.
QMV provides a range of services for complementing your PMO in times
where demand exceeds capacity.Whether it’s for specific specialist roles
within an existing team or full responsibility for the delivery, requiring a
complete project team, QMV can provide the experience and talent to work
within your PMO.
QMV also provides a range of review and advice services to assess the health of
in-flight projects. From pre-project concept design and business case definition,
through to delivery and post implementation review which ensure your project
achieves a successful result.
9. CHANGE
2. Change Management
Organisations face many changes ranging from the introduction
of new processes and technology to enterprise-wide business
transformation.The business impacts of these changes are often
misunderstood and underestimated.
Much of our work has involved fixing problems that arise after something
new has been implemented. QMV’s Change Management service ensures a
proactive and rigorous process is implemented to prepare and manage
change in a planned and comprehensive way. By taking this approach our
clients can gain a better understanding of the impact of any change across
their organisation.We ensure a positive experience during the period of
change by gathering requirements from all business units, identifying
customer impacts and ensuring all stakeholders are informed and
operationally prepared for the change.
In a nutshell we make change more predictable and ensure positive business
outcomes
10. QUALITY
1. Quality Management Planning
Businesses have many quality control measures but often haven’t
embraced embedding quality assurance within their business processes,
change methods or business reporting. As such they are exposed to greater
risk of failure. QMV has the operational experience to implement quality
assurance across the business operations.
Our Quality Management Planning service establishes an organisation-wide
quality management focus that includes both quality assurance and quality
control measures to ensure process variations are measured and rectified.
QMV’s quality management service ensures that quality is considered as a part
of every process and creates a framework to set and measure quality metrics as
a part of BAU operations.
11. QUALITY
2. Data Services
QMV Data Services are aimed at improving, maintaining and
reporting on operational data quality.
Investigate, a data methodology and platform developed by QMV, is used to
establish a regular and repeatable data quality assessment that is actively
managed to identify, quantity and resolve data problems.
The Investigate platform can be made operational at any point in time, from
new business start-up, ongoing operations and transfer of business.
12. QUALITY
3.Testing
Outsourcing is a popular choice for testing however companies
need to carefully balance cost benefits and quality outcomes.
Recent reforms have changed the way organisations need to structure their
testing.This increased regulatory focus means that testing needs to be fully
integrated ensuring collaboration between in-house and external providers to
mitigate any risks associated with errors and not delivering on time.
In addition, a rigorous testing framework needs to be aligned to each phase
of the SDLC.
QMV provide a full range of testing services, from test experts to a complete
testing team. Our focus is on developing a test framework for your organisation,
test plan implementation and testing staff strategies to deliver a complete
testing approach that guarantees quality and compliance.
13. QUALITY
4. Due Diligence
QMV provides a specific service to support organisations through
a merger and acquisition process.We are experienced in making an
objective assessment of a fund’s strengths based on current-state processes,
policies and technical systems.
We identify the benefits of the merge by assessing the following for both
the acquired and parent companies:
• Product and service capability
• Efficiency and cost effectiveness of existing operations
• Growth capability
The outcome of our due diligence service enables the acquirer to define a future
target state, with a complete view of gaps, impacts, issues and risks that could
affect the business.
14. BUSINESS
1. Tender Support
QMV’s extensive knowledge of the superannuation and wealth
management industry, along with our capability to deliver business
transformation, makes us a viable partner when it comes to managing
a tender process.
QMV’sTender Support service is a three-step process that helps our clients make
the right choice:
• We define an agreed set of success criteria that govern the decision making
process.These criteria are critical for aligning the operational requirements with
the best-suited supplier.
• We develop a list of requirements that represents the future needs of the
superannuation administration platform and integrating systems, with particular
focus on:
– Service Capability, the platform must be able to administer the three key
Superannuation/Retirement Products – Defined Benefit, Accumulation and Pensions, within the
required service level agreements.
– Efficiencies the new platform must deliver – keeping the cost of administration competitive.
– New Business transition capability – enabling growth for the fund.
• We manage and evaluate the tender responses against agreed criteria and
requirements and recommend a preferred supplier
15. BUSINESS
2. New Business
QMV provides a service to support aTrustee’s growth strategy for
their fund. Regardless if it is an acquisition, successor fund transfer,
migration or platform consolidation, the technical processes of the
transition can be managed through QMV’s proprietary Evolve data transition
methodology.
QMV’s New Business service incorporates all end-to-end aspects of migrating
the complete operations of an administration business to a new provider. This
includes:
• Negotiations with transitioning between old and new suppliers (insurers,
advisers, administrators)
• Migration of administration data and processes using Evolve methodology
• Post-migration warranty support (hyper care)
• Ongoing support and maintenance
The outcome for our client is the successful implementation of the new business
(fund, employer and group of members) within the shortest timeframe, without
compromising the business reputation or the long term quality of the ongoing
administration services.
16. QMV Super Solutions specialise in the delivery of world-
class technology and business solutions for the
superannuation and wealth management industry.
With a fresh approach to solving complex process
issues, our tailored solutions are delivered by a bright
young team who are experts in their fields and focused
on delivering innovative results.
Get in touch if you’d like to find out more:
sayhi@qmvsupersolutions.com