YORK-BASED CPP Group says it intends to develop its own IT platform as part of its redesign of its operating structure.
CPP announced in its interim results last month that it was creating “a more cost-effective and flexible platform that is focused on serving the future needs of the group.
“This is intended to enable the group’s strategy of developing new products and services that answer customer needs and concerns and deliver them increasingly through digital and mobile channels.
“As part of this, CPP recently completed an in-depth review of its current IT arrangements and likely needs over the coming years. The change in product and service focus drives a change in the group’s IT requirements.”
The group said the change would involve a one-time write-off of capitalised expenditure of £6.5 million, plus a cash payment that was being finalised with its current IT development partner.
“This payment will be met from the group’s existing financial resources.
“The operating and financial benefits of this change are important to the development of the business and will accrue from 2017 and beyond.”
CPP said it intended to develop its own IT platform, which will be built on its existing systems and be more relevant to CPP’s customers and its suite of products and services and also support the group’s growth internationally.
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