Software on-line for MPF-related tasks
Cable & Wireless HKT is introducing a one-stop business solution service which allows local companies to calculate their MPF contributions through the Internet.
Among the software on offer will be programs to assist the transfer of data from the employer to the retirement scheme providers, as well as information services to enable employers and employees to learn more about MPF details. These include information on calculation of the fund portfolio, fund switching mechanisms and regulatory reports.
'We can be the bridge between the trustees, the companies, and the employees,' said C & W HKT's director of corporate sales, Tommy Chung. 'We are not moving into the running of the MPF, rather we are facilitators doing applications and business solutions development to link the three parties.' Mr Chung said the service was targeted at small and medium- sized companies, which might not have the accounting capabilities to handle MPF-related work. Fees for the sevices are estimated to range between $1,000 and $10,000 per month, depending on the number of accessing terminals and applications used.
Mr Chung said the Intelligent Enterprise service repositions C & W HKT as an application service provider (ASP) - allowing customers to use complicated software over the Internet.
An application service provider is a supplier who makes applications available to subscribers over netwloks. ASPs offer software programs, host Web pages and e- mail and use servers linked to the Internet to host applications. They are also seen as another stage in the progress of outsourcing as a way of deploying business applications.
The ASP market is relatively new and according to an industry group they are expected to grow rapidly with multi-billion dollar sales annually.
'We are offering not only the telecommunications service, but also applications tailored to customer's needs,' he said.
Intelligent Enterprise officially launched in mid-1999 and has roughly 100 corporate clients. Mr Chung expects the number of users to grow rapidly, as the December 1 MPF start date nears. He added that his sales division oversees 6,000 corporate clients and government agencies.
The MPF functions offered through the Intelligent Enterprise Website are part of an 'umbrella' of human resource management solutions. Mr Chung said the system had been designed to be flexible. Users can access other payroll and accounting applications on the site.
'The MPF is just part of the employer's overall operations. We are also providing the integrating service so they can incorporate the MPF element into their day-to-day operations.'
