NSW Government Deploys Pega to Help Speed and Simplify Its Building Bond Management Processes
Pegasytems Inc. (NASDAQ: PEGA) announced a collaboration with the NSW Government to enhance the building bond management process via the Strata Hub. This initiative digitizes the Strata Building Bond and Inspections Scheme (SBBIS), providing greater transparency, efficiency, and real-time updates to developers, inspectors, and owners. The previous manual process involved cumbersome paperwork, while the new system, including the SBBIS Inspect app, streamlines reporting and communication, allowing for improved handling of bonds estimated at over $66.5 million for building defect repairs.
- Deployment of Strata Hub enhances efficiency in managing building bonds.
- Digital platform offers real-time updates and greater transparency for stakeholders.
- SBBIS Inspect app improves reporting speed and accuracy for inspectors.
- Significant funds in bonds ($66.5 million) are now better managed.
- None.
CAMBRIDGE, Mass., Oct. 7, 2021 /PRNewswire/ -- Pegasystems Inc. (NASDAQ: PEGA), the software company that crushes business complexity, today announced NSW Government has deployed Pega software to help significantly simplify its building bond management process through the newly created Strata Hub. By digitizing the Strata Building Bond and Inspections Scheme (SBBIS) with a new online site and mobile app, NSW Government is delivering unprecedented transparency, speed, and accountability for developers, inspectors, and building owners.
NSW Government requires developers to submit a bond equal to two percent of the building contract price on all newly constructed multi-story strata developments. This provides protection for the owners of new multi-story buildings by mandating funds be set aside up-front to cover costs of fixing defective work. However, the previous paper-based bond process system was slow and inefficient. For example, applicants had to fill out repetitive information into up to 35 manual forms and rely on the manual monitoring of timelines and due dates.
By digitizing processes with Pega Government Platform™, NSW Government is eliminating its time-consuming, paper-based operations – significantly improving the speed and efficiency of the entire building bond process with the following elements:
- The new SBBIS on the Strata Hub provides full online transparency into all claims, reports, and inspections for all parties involved while keeping everyone on track with real-time updates and deadline reminders. The system assists users on the front end by streamlining required data inputs and pre-filling known data, while also helping NSW Government on the back end with compliance support and improved cybersecurity
Pega also powers the newly launched SBBIS Inspect app, which integrates with the Strata Hub. The app – built on Pega Mobile® – is helping to streamline the way authorized NSW building inspectors complete their reports. Previously, inspectors would visit a site, take photos of defects (which can mean hundreds of images), and add them to a long manual report later. Now inspectors can capture all data and evidence on the spot, saving time and money while increasing report efficiency and accuracy. The app also supports offline working, meaning no disruption is caused when inspecting basements or other areas with minimal connectivity. Digitally managed processes also give more time back to inspectors who can shift their focus to high-risk compliance matters.
As part of the digitization, the Strata Hub enables parties to proceed through the financial agreements more quickly so building defects can be rectified, without having to go through expensive, complex, and lengthy legal claims. SBBIS currently holds more than
Quotes & Commentary
"Paper-based and disconnected transactions create frustrations for people as they take longer to process, delaying outcomes that in this case, have an impact on people's lives," said Rob Bollard, director, industry principal, public sector, APAC, Pegasystems. "With this upgrade, the Strata Hub is modernizing how claims are processed, creating more frictionless service, and ensuring results are achieved much quicker for all stakeholders."
"The SBBIS digitization is a part of a broader transformation strategy currently underway as we seek to increase efficiencies, build trust, and strengthen confidence in the building industry," said Rose Webb, fair trading commissioner, NSW Customer Service. "By doing so, we will provide better protection for new apartment owners against defective building work."
Supporting Resources
- Product Background: Pega Government Platform
- It's time to rethink enterprise modernization
- Government Customer Service
About Pegasystems
Pega delivers innovative software that crushes business complexity. From maximizing customer lifetime value to streamlining service to boosting efficiency, we help the world's leading brands solve problems fast and transform for tomorrow. Pega clients make better decisions and get work done with real-time AI and intelligent automation. And, since 1983, we've built our scalable architecture and low-code platform to stay ahead of rapid change. Our solutions save people time, so our clients' employees and customers can get back to what matters most. For more information on Pegasystems (NASDAQ: PEGA), visit www.pega.com.
Press Contact:
Jo Richardson
Pegasystems Inc.
Jo.Richardson@pega.com
Twitter: @pega
All trademarks are the property of their respective owners.
View original content to download multimedia:https://www.prnewswire.com/news-releases/nsw-government-deploys-pega-to-help-speed-and-simplify-its-building-bond-management-processes-301395152.html
SOURCE Pegasystems Inc.
FAQ
What is the NSW Government's recent initiative with Pegasystems?
How much money is managed by the SBBIS for building defect repairs?
What advantages does the Strata Hub provide?
What technology does the SBBIS Inspect app utilize?
