Coforge, a leading global IT solutions provider, has been chosen by Yorkshire Building Society, the UK’s second largest society, to develop its Share Plan website.
The new website will enable the Society to compete in the Share Plan market more effectively and develop new sales opportunities, particularly with large organisations. Coforge’ development of Yorkshire Building Society’s online presence will cement the Society’s position as a market leader in Share Plan administration.
The new web-based functionality will also incorporate international capabilities, which will help the Society achieve its ambitious plans to increase its share of the international market.
In their design, Coforge will ensure the new website has a greater visual impact especially for sales tools and static pages, featuring higher impact graphics, which will be attractive to both clients and their employees. The site will also reduce the level of manual resources required to process Share Plans, improving efficiency costs for the Society.
Working with Coforge to create a new website for our Share Plan business will enable us to more effectively defend our current share of this competitive market. The new site will also put us in a strong position to optimise the opportunities offered both in the UK and internationally.”said David Henderson, CIO of Yorkshire Building Soceity.
“Coforge has been chosen by Yorkshire Building Society for its superior solution and extensive capabilities in the area of website development and support. The agreement further establishes our expertise in being able to cater for the needs of the building societies sector.” said Ravi Pandey, UK Head of Coforge.
“It is very pleasing to see Yorkshire Building Society, a member of the BSA, and Coforge, a BSA Associate, working so closely together. I'm sure this relationship will bring widespread benefits to Yorkshire Building Society's members, and illustrates how well Coforge understand the needs of the building society sector in the current challenging economic conditions." said Adrian Coles, Director General of Building Societies Association.
Coforge has adopted a dual-shore delivery model for the completion of analysis, development and implementation of the new website. Onsite tasks include requirement capture, user interface specification and user acceptance testing support. Offshore tasks consist primarily of design, construction and system testing.
Coforge is a leading IT solutions organisation, servicing customers in North America, Europe, Asia and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions including Managed Services and Business Process Management to organisations in the Financial Services, Transportation, Retail, and Distribution and Government sectors.
Coforge’ software development processes are assessed at SEI CMMI – Level 5 Version 1.2. Coforge’ human resource processes are assessed at the highest-level of maturity at PCMM Level 5.
Further, Coforge has processes and systems for information security management certified in accordance to the ISO 27001 standard, and its facilities offering Managed Services conform to ISO 20000 standard of Service Management.
For further information, please visit www.coforgetech.com
About Yorkshire Building Society
Yorkshire Building Society is one of the largest building societies with 143 branches and 64 agencies across the UK. It is committed to mutuality and is determined to return real financial benefits to its members. Its purpose is to maximise long-term benefits for a growing membership.
For more information on Yorkshire Building Society, visit - www.ybs.co.uk
About the Savings Related Share Option Scheme (Sharesave)
What is Sharesave?
Sharesave, or the Savings Related Share Option Scheme, was first introduced by the government in 1980. It is a tax advantageous savings scheme combined with a share option designed to encourage employees to take a direct stake in their company enabling them to participate in its future.
A Sharesave scheme offers:
» A risk-free way for companies to reward and motivate employees
» An easy way for employees to save via direct salary deductions
» Guaranteed tax-free bonus rates
» Preferential employee share options - with up to 20% discount out the Share Incentive Plan (SIP)
What is a Share Incentive Plan (SIP) ?
The Share Incentive Plan (SIP) was first introduced in The Finance Act 2000 and initially referred to as the All Employee Share Ownership Plan (AESOP). SIPs have flexibility as part of their design.
SIPs can offer employees a combination of four types of shares:
Maximum amount for share purchase
£9,000 per tax year
How SIP works is determined by what suits a company best. For example, it is possible to offer all, or a combination of the above shares types and on a variety of frequencies.
Certain statements in this release are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on
our service contracts, the success of the companies / entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies and unauthorized use of our intellectual property and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.