The ClickSuper Service is a Clearing House for superannuation, other payroll deductions, payment of employee salaries and ATO payroll related payments. The software also supports the Payment Adviser Service and Bill Exchange Service (see Sections 2.6 and 2.7 respectively for further details regarding these services).
ClickSuper been delivering Clearing House services to payroll groups and their employer clients in Australia for 6 years. ClickSuper supports 26 of the largest 30 Australian payroll groups. ClickSuper has been issued the appropriate AFS Licence (337805) which allows it to operate Clearing House services for employers.
The Company’s Board and management team have experience in superannuation and financial services, in particular superannuation and technologies. This has, the Directors believe, resulted in a superior offering to, and understanding of, the superannuation market.
The ClickSuper technology has been embedded in many payroll providers’ software which can be utilised by their employer clients. The operating and compliance processes to support business and integration of these into employer’s payroll software is critical to successful operations. Development of operating procedures, automation of payments and reconciliation processes and other operating procedures have been running efficiently for a number of years.
The Group’s data is stored in high security data centres operated by a third party provider.
The Group has undertaken considerable development to facilitate the offering of SuperStream compliant software for ClickSuper to support payroll groups, their employer client employers, superannuation funds and their default fund employers via the Clearing House for the Australian marke market through the development of a web based compliance system which provides management of the compliance tasks.
Further details on Superstream’s requirements are set out in Section 2.1 (a).
Capital expenditure on the Group to date has largly been focused on:
- Acquisition of the appropriate AFS Licence;
- Development of the legal structures for offering ClickSuper;
- Development of relationships with payroll groups;
- Development of own technology solution;
- Development of operating processes to support ClickSuper; and
- Applications for international patents.