Guernsey Mint Strikes Gold with Microgen 5Series

London - 4 October 2012

Microgen PLC (LSE:MCGN), developer and implementer of enterprise software for some of the world’s largest organisations, have announced 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.”

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