HPAL wins $20m imaging contract with CBA

Stan Beer
Friday, 03 December 2004 08:00

IT Industry - Development

HPAL (ASX:HPA) has signed a two + one year contract to provide imaging services to the Commonwealth Bank of Australia, in a deal worth more than $20 million.

The project involves the scanning of CBA branch documents as part of the CommSee initiative, which is one of the largest imaging projects ever undertaken in Australia.

HPA will coordinate the uplift of documents from every CBA branch and loan centre; and undertake the preparation, scanning and indexing of documents, before passing these images back to the bank. The project involves the processing and imaging more than 100 million pages. HPA will perform the tasks across five branches, with all processing to be completed by 30 June 2005.

HPA will also carry out the ongoing imaging of retail and home loan documents.

Revenue from the initial project is expected to be worth around $20 million and ongoing revenue will be more than $2 million per year.

HPA was awarded the contract after a detailed tender process.

"We are extremely pleased to secure this important contract, which offers such enormous opportunities for both the Commonwealth Bank and HPA," said HPA managing director, Terry Daly. "We expect that the imaging market in general will continue to grow as organisations realise the value to be gained from digitising business information."