Silica Financial Administration Solution, a leading retail investment software developer and third party administration services provider, has contracted international secure electronic document delivery specialist Striata to provide a secure, SARS-compliant email service to its clients.
Based in Johannesburg, Silica generates a variety of documents ranging from statements, client letters, commission reports and income distribution summaries to broker summaries, transaction statements, tax certificates and client packs.
Veronica Haupt, head of e-billing Sales at the Johannesburg office of Striata, says Silica’s existing solution could not provide SARS-compliant encryption and faced challenges with the validation of delivery reports and rejection of e-mails.
“Striata’s international reach through its offices in London, New York and Sydney and its capability to provide detailed tracking and reporting statistics, including the percentage of emails delivered and reasons for non-delivery, were compelling factors for Silica,” says Haupt.
“We are able to easily resend undelivered emails, update changed email addresses and to resend emails to customers who phone in to the customer call centre. Our longstanding relationship with many ISPs both locally and internationally ensures that emails are not rejected as spam and that a very high overall percentage of email delivery is achieved.”
Haupt adds that through “white listing” and the tight control and management of “tarpitting” and other email challenges, Striata maximises successful delivery of documents.
Silica will have access to the Striata online reporting tool to track all documents sent on its behalf. The solution will be hosted at Striata’s Rosebank offices where extensive Internet support and operational infrastructure is available.
“Our first project for Silica will be to generate and send monthly consolidated statements in PDF format for one of their major clients using Striata Secure PDF,” adds Haupt. “A number of other consolidated statement projects are scheduled to follow as well as a project through which certain of Silica’s clients will be able to securely access and display statement information via a web portal secure format.”
As a specialist investment third party administration and technology solutions business, Silica has a strong established brand and reputation for delivering fund administration solutions. It has a material share of the retail investment market in Southern Africa and is fast making inroads into other markets.
"Secure, reliable and tax-compliant email delivery that can be accurately tracked and monitored is critical to our operations,” says Silica director Alan Raubenheimer. “To best service our clients, investors and brokers we needed a technologically advanced solution from a company that has international experience and a solid track record. Striata delivers 25 million messages per month, has an 8-year history and provides detailed reporting on delivery and activity.”