SOURCE: Microgen

Microgen

February 01, 2011 08:30 ET

Meritus Gets Out of the Starting Blocks With Microgen 5Series

Upfront Investment in Software Set to Drive Growth and Provide Company With Operational Control

LONDON--(Marketwire - February 1, 2011) - Microgen Financial Systems (LSE: MCGN) today announced that Meritus Trust Company Limited (Meritus), a newly formed Trust company in Bermuda, has selected Microgen 5Series, its market-leading Trust and Corporate Administration software. In order to increase its competitiveness within the industry, Meritus recognizes the value of investing in software that automates key business functions and that gives it the flexibility and control needed from day one. The implementation of Microgen 5Series will enable Meritus to reduce operational risk, avoid information duplication and more importantly remove any constraints on the company's ambitious growth plans.

Microgen 5Series is an easy to use and modern solution that Bermuda-based Meritus has been able to configure to meet its business needs, rather than the business having to adjust to the way the software has been designed. Its flexible architecture will ensure that as the company evolves, the system can simply be adapted by business users to accommodate their evolving requirements. With its modern architecture and intuitive design Microgen 5Series is much simpler to implement, learn and use compared to older, more cumbersome systems on the market. As a start-up Meritus was also attracted by the annual licence fee payment model for the solution. This makes for a financially easier way for smaller companies to access the professional and modern IT systems they need to effectively challenge their competitors.

"The regulatory landscape in which we operate is complex and we wanted to invest now in Microgen 5Series to ensure that we had the right level of control across the business. Ensuring that our business processes are well defined gives us the confidence that we're adhering to best practice across the organization at all times," said Michelle Wolfe, Managing Director, Meritus. "All too often software vendors have prohibitive cost structures that lead to many new companies muddling along with Excel spreadsheets which is time intensive and prone to risk. We didn't want to operate that way and it's great that Microgen is making flexible and professional software accessible to businesses regardless of their size."

Meritus evaluated a number of technology solutions. It found Microgen 5Series to be the most functionality rich, intuitive and flexible and was therefore the solution that was best placed to meet its business needs. In addition, Microgen has intricate knowledge of the Caribbean market place, already working with 35 companies in the region and many more globally.

"The Meritus board has a lot of experience and understands the business value of investing in software that demonstrates to the market and potential clients that it is a professional, modern and forward thinking company. This is especially important in such a competitive environment and undoubtedly Microgen 5Series will help to establish the company," said Simon Baines, Managing Director, Microgen Financial Systems Division.

About Microgen:

Founded in 1974 and listed on the LSE (MCGN) since 1983, Microgen is an established leader in the delivery of software, solutions and consultancy services. The Group implements bespoke applications, product software solutions for the world's largest financial institutions, multi-national corporations and public sector organizations.

The Group's portfolio of proven products and solutions enables the intelligent application of technology in a range of sectors including financial services, energy, asset & wealth management, commercial, transport & logistics and public sector.

The Group has offices in Fleet and London in the UK, and international offices in the United States, South Africa, Poland, and Guernsey. For more information, please visit www.microgen.com.

About Meritus

Meritus Trust Company Limited ("Meritus") was formed in March 2010 with one simple objective -- to provide unparalleled fiduciary services to select groups of ultra-high-net-worth ("UHNW") international families.

With this objective in mind, Bermuda's top trust, accounting and legal professionals came together to form the nucleus of our dedicated and motivated fiduciary team. To ensure stability and continuity, the founders are all Shareholders and directors of Meritus.

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Copyright ©Microgen Wealth Management Systems Limited 2011
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Contact Information

  • For further information please contact:
    North America:
    Meghan Gardner
    Version 2.0 Communications
    +1 857 222 2864
    Email Contact

    Europe and the Rest of the World:
    Sophie Hodgson
    Speed
    +44 20 7842 3200
    Email Contact

    For more information please contact:
    Meritus Trust Company Limited
    8 Par-La-Ville Road
    Mintflower Place, 2nd Floor
    Hamilton HM 08, Bermuda

    PO Box HM 1436
    Hamilton HM FX, Bermuda

    Tel: 441 405 9870
    Fax: 441 405 9871
    Email Contact
    www.meritustrust.com