Synergy to focus on transactions and payments market

Media Release, 27 February 2006

Following a wide-ranging review, New Zealand IT company Synergy has adopted a new strategic focus, based on its acknowledged market position as a leading provider of ‘industrial-strength' transaction and payment systems and services.

The new direction will involve a shift away from general IT services and a substantially increased focus on business transaction and payment solutions. Synergy already designs, builds and operates such systems in a wide variety of areas, including New Zealand's energy, banking (eg Kiwibank) and telecommunications markets, and online channels such as Fly Buys. In the government sector it delivers and supports government funding and payment systems such as student loans and allowances and hosts court fines and collections. It also runs its own transaction gateways for parking payments, passenger information and mobile banking services. Jim Donovan, who took over as Synergy's chief executive officer in mid-2005, said the company's goal of increasing growth had led to a review of overall strategy.

“The review made it obvious where our strengths lie. Market research and client feedback confirmed that we have outstanding people and systems. It also showed that the vast majority of our work involves industrial-strength business transactions and payments. It became clear that to achieve increased growth and profit, we needed to leverage off these strengths,” Mr Donovan said. Mr Donovan said Synergy's new direction is reflected in a reorganised structure based around delivery to clients. “We've implemented a new internal structure which focuses on clients rather than technical silos, we're no longer just providers of IT resources. Instead we can deliver whole-of-life solutions to our clients.” he said.

“Synergy will continue to build, design and implement mission-critical systems, manage and keep them operating,” Mr Donovan said. Another key part of Synergy's growth strategy is to further invest in the company's capability to support live business applications.

The company says it will continue to deliver its services to existing clients, but will have a tighter focus when it comes to new clients. Following a busy start to the year Synergy is actively recruiting staff across all areas of its operation.

Synergy was established in Lower Hutt in 1992 by David Irving and Chris Comber. Today Synergy has annual turnover exceeding $30 million, and employs around 200 staff in Auckland, Wellington, London and Singapore. MIS Magazine named Synergy one of New Zealand's top five strategic IT companies in 2005.