RMB Asset Management International Ltd (RMB), a wholly owned subsidiary of the FirstRand Group (one of South Africa’s largest financial services institutions), has engaged the IT consultancy and software solution services of Touchstone Group, to implement an integrated Infor FMS SunSystems procurement and finance system.
The new finance and accounting software will allow RMB to centralise its finance function to achieve stronger management information, greater visibility, increased flexibility and efficiency to the business while the procurement functionality will support centralised purchase ordering processes.
Jonathan Barnard, a Senior Accountant at RMB comments, “We currently have three offices across London and Kent that liaise on a regular basis with each other, as well as South Africa; this requires a significant amount of manual coordination to ensure administrative accuracy and efficiency. Having opened their third office in the West End in February 2007, the need to centralise the purchase ledger within the finance department was increasingly unavoidable. Infor FMS SunSystems allows us to control our processes in-house across our different businesses and offices thus maintaining our level of central control and visibility whilst increasing our opportunities to work flexibly.”
RMB selected Touchstone Group following a competitive three-way pitch process on the basis of its expertise in the financial services industry and experience in implementing and supporting Infor SMS SunSystems, as well as its focus on flexibility. As Barnard explains, “It is very important that we are able to transfer all financial data across our international offices as and when it is needed; Touchstone Group recognised this and offered a solution that was tailored around our flexible needs, ensuring that we have a system which will allow us all the benefits we are looking for, at a highly cost effective price.”
Barnard continues, “It was very clear to us from the outset that getting the technology and the administrative processes across the entire organisation correctly implemented would be key to ensure we continue to meet our customers’ expectations on an international level. In addition to our experience in this sector, our relationship with Touchstone Group and through the implementation of the Infor FMS SunSystems’ technology we have ensured that all of these expectations have been achieved.”
Barnard concludes, “The implementation of any new product or solution is never entirely smooth, however Touchstone Group’s understanding of our business objectives has assisted in moving the project forward at crucial times. Working with Touchstone Group has been a positive experience and we are enjoying real benefits since rolling out the entire solution in January 2007.”
Adrian McNay, Group Board Director, Touchstone Group, adds, “We believe that our expertise and acute understanding of the financial sector and the new regulations arising within it, can fundamentally aid RMB’s operations to deal with today’s demands as well as its future requirements and business growth.”