BCS Group, the provider of internal control management software, consultancy and managed services for the financial services sector, and pioneers in the compliance and operational control solutions announces today that it is to list on the AIM market. The listing is expected to be completed subject to shareholder approval and will enable the Company to grow the business through the development and sale of new products and the expansion of its partner activities.
BCS Group is the result of a merger between two industry aligned and complimentary businesses - Iorbia (trading as B2B Systems), a software development and implementation business, and Buttonwood Tree (Buttonwood), a City-based business consultancy and managed services business.
Eighteen months prior to the merger both Iorbia and Buttonwood had been operating a successful joint venture company, VCM, which supplied and implemented operational control software into large investment banks. The merger brought a clearer proposition to the market and is instrumental in the acceleration of growth.
BCS Group is organised into two trading divisions, the Software Division and the Services Division. The Software Division develops applications that allow business managers to control many aspects of their operations in the context of an increasingly onerous regulatory environment. BCS Group have implemented a number of applications in the market, from Regulatory Control (BCS Regulationsâ¢) and Balance Sheet integrity (BCS Integrityâ¢) to Control Certification (BCS Certificationâ¢) modules to name a few, all of which are designed to mitigate the exposure of senior managers and directors to regulatory, financial and reputational risk. BCS Group owns the intellectual property for these applications and BCS ControlCentreâ¢, the underlying technology for these software applications.
The suite of control solutions will be of increasing importance to organisations given the powers granted to regulators such as the FSA and the passing of legislation such as the Sarbanes-Oxley Act in the US.
The Services Division incorporates a number of managed and consultancy based services including technical architecture, strategic change management, programme management, the support of BCS ControlCentreâ¢ implementations and a managed service providing annuity based market data and desk-top support services. BCS Group has over 40 consultants providing expertise across IT, operations, finance and risk to a number of leading international investment banks and financial services companies.
Nigel Walder, CEO of BCS Group Limited, said: "We are very excited about our transaction especially with the increasing interest in our control related solutions given the increasing demand due to the growing control pressures facing all regulated businesses. Our solutions are scaleable, agile and robust and we will strive to continue to build on our reputation of being rapid expeditors of our clients' issues."
Martin Preen, COO and MD of the Software Division said: "Senior business managers buy us because we analyse their issues quickly and deliver control solutions which make sense and deliver benefits. Most of us (within BCS) have been business managers ourselves and there is nothing more frustrating as identifying an issue, knowing the principles of what needs to change, but having projects that go into a deep black hole, cost a fortune and do not come out the other side. Our strong work ethic, agility and ability to work with senior management to get things done rapidly has led to the successful and exciting position that BCS Group is now in."