Australian job advertiser Seek successfully completes platform migration
Australian job advertiser Seek has successfully completed its multi-year migration to a centralized tech platform, on schedule and within budget. The CEO of Seek, Ian Narev, credits his former boss at Commonwealth Bank, Ralph Norris, for the smooth transition.
Narev, who previously held a senior position at Australia’s largest bank, witnessed Norris oversee a similar overhaul of their operations. Seek’s CEO freely admits to implementing Norris’s approach, which involved replacing outdated core systems at a cost of hundreds of millions of dollars. Narev became CEO of Commonwealth Bank in 2011 before eventually taking the helm at Seek a decade later.
One of the key factors behind Seek’s platform unification was the unwavering focus and organizational alignment, learned from Norris’s example. Narev humbly acknowledges that he simply “copied and pasted” the successful strategy. Despite Seek’s shares slipping following a cut in full-year earnings guidance, Narev remains optimistic about the company’s future prospects.
The reinvestment made by Seek in simplifying processes and reducing costs has positioned the company well for future growth. Narev emphasizes the collective effort involved in the migration, stating, “I’m not a big believer in CEOs talking about their legacies because 1,000 people were involved in this. Now it’s a matter of extracting every benefit we possibly can over years.”
With the completion of its platform unification, Seek is expected to reap the benefits in the coming years, ensuring its continued success in the job advertising market.
Analyst comment
Positive news: Australian job advertiser Seek successfully completed its migration to a centralized tech platform on schedule and within budget, following the approach implemented by former Commonwealth Bank CEO Ralph Norris. Seek’s CEO Narev credits Norris for the smooth transition and believes that the company’s reinvestment in simplifying processes and reducing costs has positioned it well for future growth. Despite a slip in shares, Narev remains optimistic about Seek’s prospects and expects to see the benefits of the platform unification in the coming years.
