AIM listed Mattioli Woods plc (AIM: MTW.L), the fast growing specialist pensions administrator and consultancy is to invest in new time recording and client billing systems, which will allow its business to achieve significant operational efficiencies.
Touchstone Group has been awarded the £125,000 contract based on its “easy to adopt and use” approach. The project includes the supply of SunSystems for Mattioli Woods’ commission accounting requirements and Time@Work for its time recording and invoicing.
Mattioli Woods employs 95 people, including 13 consultants, and its funds under trusteeship now total over £750 million. The business is primarily fee-based and strong growth means it now administers around 1,500 pension schemes for clients throughout the UK.
Nathan Imlach, Mattioli Woods’ Finance Director, comments, “Our existing software did not offer sufficient capacity for our projected growth. We chose to work with Touchstone Group, following a detailed tender process, because they clearly understood our business and the potential productivity improvements available to us. The solution which Touchstone Group has designed will give us powerful management information across the entire organisation, and will support our decision making with real-time data. The new systems will also allow us to enhance the information we provide to our clients.”
Adrian McNay, Group Board Director, Touchstone Group, comments, “We have worked closely with Mattioli Woods to tailor a solution to its specific needs, and have built an excellent relationship with the team. We are at the beginning of the implementation stages and very much look forward to guiding Mattioli Woods through each phase of the “go live” process.’
Imlach concludes, ‘We are confident this investment can pay for itself within 12-18 months through a number of efficiency improvements, and expect to achieve these with the assistance of Touchstone Group’s consultants. I very much look forward to the new systems going live and to us continuing the positive relationship with Touchstone.”