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As the use of technology continues to expand throughout many businesses and emerging technology solutions become mainstream, many businesses don’t have the skills and capabilities they need internally to achieve successful digital transformation projects. Therefore, they need to look outside the organisation to leverage the power of collaboration.

Historically, the term ‘collaboration’ referred to the management of teams within an organisation, particularly cross-functional teams. However, more recently, collaboration refers to assembling a team with the right skills, capabilities, and attitude, supported by a group productivity platform from the talent pool across a range of strategic partners. The most significant difference is that business leaders no longer expect that all the skills and capabilities required will be available internally, so those strategic partners are often found outside the organisation itself. Collaboration, therefore, has come to describe the effective execution of a partnership that spans both organisational and geographic boundaries. 

This matching of a capability base in diverse locations with an effective platform, turns collaboration into an ecosystem. A collaboration ecosystem empowers transformation project leaders to adjust the capability mix based on specific, short-term requirements.

This is a real and meaningful change in managing complex technical projects, especially digital transformation projects and cloud migration projects.

So-called ‘industrial mashups’ can create potentially unique business value by bringing together very different companies well known for their individual areas of expertise.[1] Businesses are increasingly understanding the importance of unlocking these opportunities and are aware of the need to partner. A separate Harvard Business Review research report in 2015, ‘Driving Digital Transformation: New Skills for Leaders, New Role for the CIO’, revealed that 75 per cent of businesses were not confident that their organisation possessed the digital acumen required to excel in this space.

This demonstrates that learning how to collaborate effectively is just as important as being willing to collaborate. The success of a digital transformation project will be affected by issues including lack of talent, change fatigue, going it alone, and going too slowly.[2]

When it comes to getting the right talent for digital transformation, the capability mix for each stage of the project is quite dynamic. For example, some specialist skills are only needed for some development stages, but they are critical to the success of the overall success of the project. It’s important to have all the required skills at the right competency level for every stage of the project. The solution is to build development partnerships with organisations that can deliver on the project requirements, at the time required.

Change fatigue includes the challenge of scarce resources being required to run legacy systems and processes while, at the same time, trying to deliver on generational change in systems and processes. Change fatigue can certainly be managed, and one way is to have a broader talent pool that can focus on keeping the business running.

Fewer businesses are determined to go it alone or go slowly. In a 2016 survey, Australian CEOs were found to be ahead of their global peers when considering strategic partnerships and 44 per cent of executives believe that going it alone will become a thing of the past.[3]

This is compelling evidence that the success of critical digital transformation projects, including cloud migration, may be determined by an organisation’s willingness to embrace this emerging definition of collaboration.

However, in practice, many projects have been crippled or failed to deliver the anticipated return on investment because businesses have diverted key resources to legacy systems at critical points in a digital migration development. Furthermore, projects are often descoped by internal teams. This can make the project look good in the rear-view mirror but leaves many of the expected business benefits unmet and benefits realisation deferred.

The best advice for organisations looking to achieve successful digital transformation projects is to set the roadmap upfront, allocate resources that won’t have to be de-allocated, and set realistic expectations for timeframes, benefits, and return on investment. The key to this is identifying and working with the right strategic partners.

RoZetta has an appreciation for participating in collaborative developments.  It delivered a collaborative development platform to nearly thirty universities throughout Australia. Peter Spicer, the RoZetta Head of Technology, has wide experience, across Australia and South East Asia, in partnering with clients on large technology projects.  RoZetta’s is committed to creating value for its clients, so that they, in turn, can create value their customers. 

Key links referenced in this article:

  • RoZetta Technology

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  • Harvard Business Review – Is Collaboration the New Innovation:

  • McKinsey Article – A CEO guide for avoiding the ten traps that derail digital transformations:

  • PwC – Perfect Match: Why it’s important to find the right digital partner:


[1] Harvard Business Review: Is Collaboration the New Innovation, 2016.

[2] McKinsey & Co.:  A CEO Guide for Avoiding the Ten Traps that Derail Digital Transformations, 2016.

[3] PwC: Perfect match: Why it’s important to find the right digital partner, 2016.







Australia’s world-leading position in tracking and interpreting big data to create fairer, better-quality markets to be amplified
Capital Markets CRC and SIRCA’s innovation in data analysis, technologies, products and solutions, including the Thomson Reuters Tick History product, the SMARTS Trade Surveillance system and Lorica Health’s claims analytics, is already transforming capital markets, health markets, energy markets and property markets
Merger further amplifies impact of revolutionary Industrial PhD program and of participating Australian Universities

14th June 2018: Two Australian research centres already responsible for some of the biggest innovations in making stock exchanges, health markets and energy markets fairer, more efficient and less able to be manipulated are to merge, creating a global translational research powerhouse based in Sydney.

From the revolutionary Tick History solution created and run for Thomson Reuters, which transformed the transparency of trading and market surveillance, and the SMARTS Trade Surveillance system, which was sold to Nasdaq in 2010, through to Lorica Health’s claims analytics platform and the MQDashboard, Capital Markets CRC ( and SIRCA ( already have successfully launched multiple world-leading innovations.

In addition to advanced analytics and creating new technologies, both organisations provide world-leading translational research and training opportunities for PhD students, teams and university partners; actionable insights and solutions for industrial partners; and impressive proof of the success of the Federal Government’s CRC program.

Federal Minister, the Hon. Craig Laundy announced the planned merger of CMCRC and SIRCA, highlighting the significant benefits of the combined ability to create new big data analytic technologies and solutions to better manage the growing volume and complexity of market data.

“It’s not just vertical integration, it’s horizontal integration at the same time, which will provide some real grunt, especially when it comes to data and data analytics, training PhD students, and collaboration with industry,” Minister Laundy said.

“What this merger will deliver to this country moving forward, not just for the PhD students moving up and out into the world, and the benefits that we’ll have as a country moving forward, is limited only by your imagination. You’re the sort of people we in government wish we could find more of to back.”

The new not-for-profit global hub to be based in Sydney will:

    • significantly increase the scale and capacity to :

  • deliver world-leading translational research and industry engagement, resulting in solutions, products and new companies that will enhance the fairness and efficiency of global markets (or “Market Quality”)

  • develop and provide relevant global data and advanced tools to promote and enable financial research and innovation, particularly by member universities.

  • expand the world’s largest cross-disciplinary industrial PhD program producing future R&D leaders in data science, finance, market quality and market design

  • bring together and leverage a community of around 70 industry partners, 50 universities, over 250 experts and 12 companies in our corporate family;

  • provide expert teams who will deliver value to industry by solving their problems and generating impact and outcomes for our university partners and students.

The new entity combines a track record of demonstrable success in translational research and bringing innovation to capital and securities markets, health markets, energy markets, facilities management, digital assets, supply chain logistics and financial research.

CMCRC Chair Dr David Skellern said the merger strengthens Australia’s leadership position in translational research into how data can be leveraged to improve markets.

“This merger consolidates two of the leading translational research organisations in the area of market structures and regulation, data intelligence (mining, analytics, visualisation and utilisation), technology development and innovation to solve many of the biggest problems facing government, business and consumers,” Dr Skellern said.

“The Federal Government’s National Science and Innovation Agency has set out the challenge Australia faces in moving from the bottom rung of nations in university-to-industry collaboration. CMCRC has been a shining light in the movement to change that status quo and this merger means increased scale and capability to make a far greater impact.”

SIRCA Chair Andrew Macpherson said that SIRCA had been extremely successful in serving the needs of a large number of universities over the past 21 years and in providing some of the largest and most innovative data services to global corporate clients, such as the Thomson Reuters Tick History Product.

“By joining forces with CMCRC, SIRCA achieves not only a continuation of delivery of the SIRCA mission but a significant expansion of its scale and capability to bring new benefits to members, and the wider university and industry sectors we serve,” Mr Macpherson said.

“Both CMCRC and SIRCA have the same mission – to enhance the research outputs of the Australian economy by developing, delivering and enhancing the industrial research collaborations, research infrastructure and capabilities and connectedness of universities, industry and government, making markets better and unlocking value in data.

“Both CMCRC and SIRCA have proven track records in building global solutions leveraging data, analytics and technology. As a single entity, our ability to continue our expansion into markets like health, energy and property is exponentially increased. By creating market efficiencies across these markets at a global level, we will increase the value for end users and identify ways that providers can optimise their cost base.”

The CMCRC will continue to deliver on all of its obligations to the Commonwealth and participants under the Cooperative Research Centres Program, and SIRCA will continue to provide access to global data and tools to its member base.

The combined organisation’s headquarters will be co-located with a new data research and technology community across three floors in Sydney, with branches in China and Europe supporting a global network of over 70 industry partners across five continents.

The merger is subject to finalisation of due diligence verification and legal approvals, which the Boards expect to complete quickly.

Media Contact: LJ Loch 0488 038 555 or via


SIRCA ( was founded in 1997 by a group of collaborating Australian and New Zealand universities as a not for profit company to support the needs of academic researchers, in a world where data volumes were accelerating dramatically. RoZetta Technology is the commercial arm of SIRCA and is a world leader in a number of areas of technology related to financial services including understanding financial instrument data structures, managing the ingestion of significant financial market-data streams and managing large-scale archival financial market data sets.


CMCRC was established in 2001 and has grown to become a leading international translational research institute with over 60 industry partners in 5 continents and operating a globally leading industrial PhD program currently developing over 100 future R&D leaders. CMCRC is supported by the Department of Industry and Science’s Cooperative Research Centre Program (

CMCRC is sustained and refreshed by developing, funding and growing a number of high-profile successes including Thomson Reuters Tick History; SMARTS Stock Market Surveillance acquired by NASDAQ in 2010; Lorica Health (advanced claims analytics solutions and services for the healthcare sector ( ). Other portfolio companies include: Ordermentum (, CIM Environmental (, Digicash
(, Infinigold (, Dealmax ( and Market Quality Dashboard (






Craig Laundy and David Wright are joined by David Sharp, CEO of Securities Industry Research Centre of Asia-Pacific (SIRCA) and RoZetta Technology

Craig Laundy, Federal Minister, has announced RoZetta’s parent company, Securities Industry Research Centre of Asia-Pacific (SIRCA) and Capital Market Cooperative Research Centre (CMCRC), Australia’s world-leading translational research institute, have agreed to merge to create a leading global data science and technology hub.  The merged entity will have a demonstrable record in successfully delivering innovation to a broad range of market sectors including capital and securities markets, health, energy, facilities management, digital assets, supply chain logistics and financial research markets.

The merger delivers significantly more scale to support:

  • World leading data and analytics solutions leading to innovation that result in disruptive products and processes;
  • New companies that will emerge to enhance the fairness and efficiency of global markets for all participants;
  • Expansion of the world’s largest cross-disciplinary industrial PhD Program producing the future R&D leaders in data-science, finance, health, market quality and market design;
  • A community of around 70 industry partners, 50 Universities, more than 250 experts in their fields and 12 companies in our corporate family;
  • A resource pool of over 300 professionals, expert in big data management and advanced analytics;
  • Expert consulting team who will create value for clients by identifying, and resolving, waste and inefficiencies in processes, systemic errors and non-compliant behaviours.

SIRCA / RoZetta and CMCRC have both transformed global industries with successful initiatives including the Tick History product (now part of Thomson Reuters) and CMCRC’s SMARTS product (now part of NASDAQ.) These products transformed the way global capital markets operate.

Companies already fostered by these organisations include health analytics leader Lorica Health and data services company RoZetta Technologies. The new entity will continue to translate the benefits of advanced data management and data analytics into measurable benefits for clients. The new entity will bring together complementary skill sets in cloud centric big data platform solutions combined with advanced data analytics and product development skills.

This new entity will be a real centre of excellence for analytical innovation.


David Sharp, CEO, RoZetta Technology and SIRCA



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