Bunting Pty Ltd
Bunting Pty Ltd (ABN 64 096 255 668) was founded in March 2001 as a project management and advisory business following the dotcom crash (2000-2001), which emphasised the importance of evolution to rapidly changing circumstances. The need for agile flexibility has since been emphasised by the Global Financial Crisis in 2008 and current impacts of USA's trade protection policies.
Our evolutionary pivots since 2001, consultancy → product development → SaaS → investment, have been very successful.
eGov Pty Ltd (eGrants.com)
▲ August 2006: eGrants first client wins a minister's achievement award 👍
► L-R: Minister for Environment, Project Director (Community Water Grants), Department of the Environment Secretary
One of our first ventures was eGov Pty Ltd, founded in 2006. eGov bootstrapped, developed and operated eGrants.com, a very successful software as a service (SaaS) operation.
- eGrants provided support services on a fixed price per transaction basis (with a total expenditure cap) to Federal government grant programs with budgets totalling almost AUD 1 billion and thousands of applicants and managed grants. It was a full service, end-to-end system including online applications, automated assessment, automated contracting and funding, online progress reporting and acquittal as well as management reporting.
Users had single signon management of their applications and contracts across multiple programs and multiple departments.
- eGrants achieved a 99.5% compliance rate and a 95% satisfied or very satisfied rating by users. 👍
- Automation of most functions increased integrity, eliminated errors, slashed processing times and increased the performance of grant program administration (projects per case manager) by around 10 times.
- eGrants was certified compliant with the Payment Card Industry Data Security Standard (PCI/DSS) and audited daily against that standard by a certified external security firm.
- eGrants assured uptime with log shipping of data across multiple hosts with automated failover. ☑️
Some of the most important environmental and economic relief, recovery and stimulus programs supported by eGrants included:
- Community Water Grants (CWG), a $260 million drought relief program -
eGrants supported all 3 funding rounds of this program (Round 1: 1,750 projects, $61.5 million, Round 2 and Round 3: $200 million).
In addition to the main functions of a grant management program, eGrants supported specialist assessments of projects by a panel of 50 engineers in 5 companies. It also provided project geocoding, environmental geodata for project locations, and a location-based rainwater tank model.
- A $336.1 million Green Vouchers for Schools program (9,612 schools), which went live the day after the user database and configuration were signed off (on schedule), but was cancelled shortly afterward as a result of a change of government in 2007.
- The Regional and Local Community Infrastructure Program (RLCIP) - eGrants supported the first 2 allocated funding rounds, which injected $350 million in the form of 4,658 infrastructure projects for 565 local governments and the ACT at the depth of the Global Financial Crisis.
For Round 3 (1,353 projects) our client used an in-house portfolio management system purchased from a US multinational which, according to an ANAO report, underperformed eGrants in functionality, productivity and performance.
On RLCIP, we were asked "when can you go live?" - at the depth of the GFC time was of the essence. Our response was "the day after you sign the contract". eGrants went live with full production capacity the day after the contract was signed. 👍
eGrants was designed, built, operated, configured for each program and funding round, continuously developed and supported (back office, client and user help desk, and on clients' sites) by just 2 people, Lloyd Bunting and Anita Eglitis. This was achieved by applying the same emphasis on automation, productivity and quality to our own operations that we applied to our clients' operations.
From 2001-2010 our investment portfolio was made up of cash and ASX-listed bank and technology stocks supporting our consultancy and project work and, from 2006, our eGov business.
The purposes of our portfolio at that time included:
- funding continuing product improvement and new product development,
- meeting significant capital backing requirements of client service contracts, government procurement panels and commercial property leases,
- funding "payment on milestone" and "payment delay" projects and other business risks,
- funding for acquisition of furniture and equipment, trademarks and premium domain names, and
- providing cashflow assurance for employment of contractors and staff, commercial property leases, software licences, technology service contracts (eg hosting, security audit), insurance and accountancy services.
However the Global Financial Crisis of 2007-2009 created a need and opportunity to put those assets to a more productive use: investing in the US market recovery.
Around 2010, with the AUD above parity with the USD and US technology stocks at low valuations, we focused our investment on technology stocks listed on NASDAQ and NYSE, retaining a few ASX-listed stocks.
We have also invested in Australia's entrepreneurs and their tech startups via Australia's first tech startup incubator Pollenizer (which unfortunately went to zero in 2017) and the AUD 10 million Sydney Angels Sidecar Fund which has been successful.
Investment is now a significant focus of our company, providing capital and cashflow necessary to develop, launch and grow new businesses.
Current Product Development
Our product development interests include investment management systems (backroominvestor) and, in conjunction with Techseeder, domestic solar energy management.
Lloyd Bunting, Founder
Lloyd is the founder of Bunting Pty Ltd and eGov Pty Ltd (eGrants.com).
Lloyd has degrees in business and investment (BBus, MBA), and is a retired FAICD (Foundation Fellow), FASA/FCPA and MACS.
Anita Eglitis, Techseeder
Anita is the founder of Techseeder Pty Ltd and CEO of eGov Pty Ltd (eGrants.com). As eGov CEO she arranged and signed the company's first million-dollar contract (the Federal government's first Software as a Service contract).
Anita is an economist and former senior executive at ANZ Bank and Victorian State Government as head of its Project Governance and Review Group. Her economics degrees include an MA from Cambridge University.