The Hong Kong-based Sun Hung Kai Financial Group is now managing its compensation programmes through Varicent SPM,the flagship programme of Varicent Software, a Canadian technology firm.

 Varicent partnered with Beans Factory, which provides e-business solutions and information integration services in Asia, to implement the programme and automate Sun Hung Kai’s compensation processes.

"We knew we needed a solution that was robust enough to handle the complexity of our compensation models, but we didn't want to have to rely on IT services whenever we make changes," said Kevin Tai, chief operating officer of Sun Hung Kai’s wealth management unit.

"Varicent SPM lets us manage the compensation process without requiring deep technical skills, which means we can significantly improve productivity as well as time-to-market," Mr Tai added.

Sun Hung Kai Financial has approximately $6.45 billion (HK$50 billion) in assets under management, custody and/or advice, and more than HK$11 billion of shareholders' equity. The group’s branch and office network covers over 60 locations in Hong Kong, Macau, China and Singapore.