{"id":11974,"date":"2012-05-09T10:52:21","date_gmt":"2012-05-09T08:52:21","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=11974"},"modified":"2012-05-09T11:44:12","modified_gmt":"2012-05-09T09:44:12","slug":"jse-to-rewrite-back-office-programme","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/11974\/jse-to-rewrite-back-office-programme\/","title":{"rendered":"JSE to rewrite back office programme"},"content":{"rendered":"

The JSE Ltd<\/a> says it will need to completely rewrite a component of its long-delayed System Replacement Programme (SRP), used for its back office and not trading purposes.<\/p>\n

The group says it has completed a technical analysis of SRP which indicates that it is \u201ctechnically desirable to completely rewrite the Market Services Solution (MSS) component of SRP, which is one of the five components of SRP.<\/p>\n

\u201cWe are currently considering our options following the technical recommendations, both in relation to MSS and any impact on the other components of SRP,\u201d the JSE said.<\/p>\n

Financially speaking, the group notes that the carrying value in respect of SRP as a whole, is approximately R158 million. \u201cAs a result of the technical analysis, we anticipate impairment to SRP of at least R60 million, which is the carrying value of the MSS component, to be reflected in the interim financial results for the period ending June 2012,\u201d it said.<\/p>\n

The JSE added that the total extent of any impairments will be determined following the group\u2019s decision on the options available.<\/p>\n

Last month Humphrey Borkum<\/a>, chairman of JSE Limited alluded to his scepticism of the ease of implementation of new IT projects. \u201cSomehow I\u2019ve always related these to projects in the construction industry which invariably seem to come in later than scheduled, with unforeseen cost overruns and long snag lists. The Gautrain is a good example,” he said.<\/p>\n

\u201cThis was certainly the case with our Systems Replacement Project aimed at replacing the JSE\u2019s current back office (BDA) system. After extensive testing our software did not fully meet our requirements – hence the impairment and delay of implementation,\u201d he added.<\/p>\n

The chair also highlighted strong 2011 financial results, in which the JSE turned R3.3 trillion in the 249 trading days of 2011 and increases its dividend to 250c per share, from 210 cents, despite taking an impairment of R223 million on software development.<\/p>\n","protected":false},"excerpt":{"rendered":"

The JSE Ltd says it will need to completely rewrite a component of its long-delayed System Replacement Programme (SRP), used for its back office and not trading purposes.<\/p>\n","protected":false},"author":9,"featured_media":4797,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[25,2712,175,2711,2710],"class_list":["post-11974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-active","tag-humphrey-borkum","tag-jse","tag-srp","tag-system-replacement-programme"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/11974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=11974"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/11974\/revisions"}],"predecessor-version":[{"id":11980,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/11974\/revisions\/11980"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/4797"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=11974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=11974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=11974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}