|By Business Wire||
|October 3, 2012 04:30 AM EDT||
Microgen PLC (LSE:MCGN), developer and implementer of enterprise software for some of the world’s largest organisations, announced today that Guernsey Mint Refined Limited (“Guernsey Mint Refined”), a precious metal and commodity investment service provider, has chosen Microgen 5Series Portfolio Administrator to manage its precious metals investment business. Microgen 5Series provides a modern system with comprehensive investment and accounting capabilities combined with a highly secure web portal to enable Guernsey Mint Refined to rapidly grow its business.
Microgen 5Series offers a complete solution that allows Guernsey Mint Refined customers’ trade instructions to be captured through the Microgen 5Series Secure Web Portal. These instructions are fed automatically into Guernsey Mint Refined’s order management system and then into Microgen 5Series Portfolio Administrator for accounting and record keeping. In addition, Microgen 5Series offers an open architecture to facilitate integration with multiple Guernsey Mint Refined systems. This allows Straight Through Processing (‘STP’) which increases operational efficiency and reduces the volume of errors compared to typical manual data processing.
Investing in technology at a time of significant planned business expansion meant that Guernsey Mint Refined needed total confidence in its software supplier, both in terms of financial stability and ability, to deliver a solution successfully. Microgen’s financial strength as a UK PLC, its long track record of successful implementations and its local presence in Guernsey ensured that Guernsey Mint Refined had total peace of mind.
“As a start-up business we could ill afford a lengthy and complex IT systems project. The combination of an intuitive, modern system with an out-of-the-box core configuration enabled us to complete the deployment of Microgen 5Series in just six weeks. This enabled us to continue to focus on our customers without distractions at a key time for the business.” said Robin Newbould, Managing Director of Guernsey Mint Refined. “As the business expands we will take advantage of the flexible nature of Microgen 5Series to mould the solution to our business needs and processes as and when those change.”
“We are delighted that Guernsey Mint Refined has chosen Microgen 5Series Portfolio Administrator and Microgen 5Series Secure Web Portal to support its operations from the outset. This choice will enable Guernsey Mint Refined to avoid the error that many companies make, initially relying on spreadsheets and manual processing which can restrict business growth leading to a much more complex transition to a proper software package.” commented Simon Baines, Managing Director of Microgen Financial Systems. “Guernsey Mint Refined was also attracted by the Microgen annual licence fee model which removes the often inhibiting large up-front purchase cost for software. This enables the company to invest wisely in a high quality product early on in the life of its business.”
About Guernsey Mint Refined
Guernsey Mint Refined provides its clients with everything they need to invest in physical bullion, unallocated ounces and exchange traded commodities – holding their cash and assets in a portfolio with all of the expertise they would expect from a company regulated by, and registered with, the Guernsey Financial Services Commission.
The business prides itself on the excellence of its service and its innovation: clients have the opportunity to trade in precious metal and commodity investments with a hitherto unknown level of price transparency, robustness of process and clarity of reporting.
Based in Guernsey, the company was established at the start of 2012 by experienced offshore financial market professionals who work alongside an affiliated family business that has a history stretching back to 1887.
Microgen develops and implements enterprise software for some of the world’s largest organisations. Its high performance software and detailed understanding of specific markets enable customers to quickly realise business value from their investment in technology.
Microgen Financial Systems Division delivers a wide portfolio of back office processing software to the banking, wealth management and energy sectors. For trust administrators through to major fund and asset management organisations, Microgen provides solutions for front and back office administration, performance measurement/analytics and fund & product design. Microgen’s unique product set plus experienced domain expertise helps organisations continuously adapt to market conditions and the increasingly stringent accounting and regulatory requirements they face. Microgen helps organisations meet the demands of asset class diversification and liability-driven investing.
Microgen Aptitude, the Group’s High Performance Enterprise Application Platform, processes large volumes of transactions and data at unparalleled speed – in environments where complex business rules apply, such as the financial services and digital media sectors.
Headquartered in London the company was founded 40 years ago and has been listed on the LSE for 30 years.