Integrator KAZ Computer Services has entered into a deal which will see it develop a superannuation administration system for the Thai Government, and three superannuation schemes run by the Thai Farmers Bank.
KAZ managing director Peter Kazacos said the new deal would enable the company to take advantage of other outsourcing opportunities in the Asia-Pacific region.
"Once the system is in place, we will be taking on 1.4 million members from day one," Kazacos said. "It will also give us critical mass in order to extend our services throughout Thailand."
According to Kazacos, the company has taken advantage of skills in the business processing arena which KAZ scored through the acquisition of AusData.
"We are using the skills in the superannuation and business processing arena," Kazacos said.
The deal has given rise to a joint venture company comprised of KAZ, the Thai Government Pension Fund and the Thai Farmers Bank. The newly formed company will be 51 per cent owned by the Thai Farmers Bank, with 30 per cent going to the Thai Government Pension Fund, while the remaining 19 per cent will be owned by KAZ.
Under the terms of the joint venture, KAZ will be responsible for the development of the operations software for the new administration system, as well as the supply and implementation of associated image and workflow systems.
The new deal will also see the ASX-listed company secure, supply and support all computer and imaging hardware required to run the environment, including AS/400s, scanners, workstations, printers and the establishment of technical infrastructure to manage all aspects of the operation.
Kazacos hopes this Thai success will leave the company well positioned to tender for Australian IT outsourcing opportunities.