PPSR: a workaround in progress
After two and a half weeks of frustration and delay, the Insolvency and Trustee Service of Australia, which manages the new Personal Property Security Register, now claims that most problems have been resolved, and that both the accessibility and the performance of the PPSR have "improved significantly". However, users of the service are still being hampered by a series of workarounds. For example, it's still necessary to search the data migrated from the Australian Securities and Investments Commission three ways - by company name, Australian Company Number and Australian Business Number.It could take months of work to resolve this problem completely.It is also expected to be at least a month before users of the service will be able to pay using American Express, which wasn't included in the system's original design.In addition, the PPSR is also not yet fully populated. While a number of property security registers have already loaded up their data, there is a two-year window for all data regarding existing assets to be loaded on to the PPSR.Data detailing personal property over which there is a security that has been bought on or since January 30 must, however, be loaded on to the PPSR immediately.Such was the sluggishness of the system when it first kicked off that Veda waived PPSR fees for its clients for the first few days of operation.Some organisations loading up data on to the new platform reported it taking several hours to load up batches of data, and the search function repeatedly stalled, leaving users with no option but to start searches again - which led to the system being further overloaded.The $A33 million PPSR was built by Fujitsu and had first been slated to go live in May 2011. That was then postponed to October last year, and again until January 2012, when it was finally turned on.The delay has stripped the Government of the $3.5 million in revenue it had budgeted to receive this year. (The PPSR, which has been built on a cost-recovery basis, was expected to bring in $5 million of receipts each year, and was expected to pay for itself by the end of 2014-15.) Asked to respond to reports that Fujitsu had been asked to speed up the search capability of the database, the company provided the following response, via a spokeswoman."Fujitsu has been working closely with the Attorney General's Department on the implementation and public release of the PPSR. The PPSR is a complex project that involves many parties for the supply of information, the integration of the systems, and the underlying network and systems infrastructure."Our relationship with the Attorney General's Department requires Fujitsu to consult with the Department before providing any further information about the PPSR."The Attorney General's Department has yet to respond to a series of questions provided over a week ago regarding the operation and upgrade of the PPSR.Moses Samaha, head of commercial risk for Veda, acknowledged that the first week of the PPSR had been "exceptionally challenging", but said that the system