Microgen 5Series Trust Administration
Microgen 5Series is a software solution designed to assist Trust and Corporate Service Providers, Wealth Management Companies and Fiduciary Service Providers with their core business operations. Specifically, it provides functions to:
- enable details of clients and their structures (e.g. trusts, underlying companies, foundations etc.) to be maintained;
- produce the administrative documentation associated with the set up and maintenance of these types of client structures;
- keep accounting records for clients and their associated structures;
- record details of investments and the associated transactions; and
- provide mechanisms for generating invoices to their clients for the provision of these services.
Microgen 5Series is made up of a number of integrated modules which reduce the duplication errors typically associated with multiple systems, and the increased level of automation achievable enables staff to spend more time on “value-added” activities. With a wide range of user definable parameters to facilitate flexibility, the system can be easily configured to reflect your business and processes.
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Reduce costs: increased automation improves operational efficiency and reduces errors and costs associated with manual processing
Improve control: workflow processes guide staff through their day to day work and provide management with a clear, real-time view of the business
Retain clients and grow business: improved customer service achieved through enhanced management control, reliable and consistent data and comprehensive reporting
Improve flexibility and agility: react quickly to changing market and compliance/KYC requirements through user configurable options
Safeguard client data: functional and data access controls help to ensure sensitive client data is protected
Statutory Module: The Statutory module is the central repository for all client and mandate data. It automatically produces client structure diagrams, client documents, forms and minutes. User-defined fields and workflow are included.
Financial Module: The multi-entity, multi-currency, Financial Module provides a general ledger facility to hold both Client Accounts information and Trust Company Account(s).
Portfolio Module: The Portfolio Module captures details of investments held by any entity in Microgen 5Series. Each entity can have their assets assigned to a single portfolio, or split between multiple portfolios.
Time and Expenses Module: The Time and Expenses Module provides the facility for employees to capture both chargeable and non-chargeable time. Expenses or disbursements relating to client based work can also be captured on the timesheet.
Billing Module: The Billing Module generates fee notes, records payments, creates credit notes and tracks debtor positions.
Microgen 5Series Secure Web Portal: a highly secure online client servicing tool that provides an online view of a user-defined subset of data & documents from Microgen 5Series Trust.
“With over 20 years’ experience, we knew that our business needed to keep the competitive edge in this fast-moving financial market and there wasn’t an off-the-shelf solution that satisfied our requirements. Microgen not only completely understood our business needs but was able to demonstrate the flexibility and ease of configuration of Microgen 5Series; exactly what we required,” said, CEO, Canadian Trust Company. “The strong track record, stability and experience that Microgen has in the financial market supported our final decision.”
“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 organisation at all times. 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.”
Managing Director, Bermuda Trust Company.
“Lots of companies are held back by their IT infrastructure so we wanted to invest upfront in a system that is agile enough to support the big ambitions we have for our business. Putting a system in place now means we won’t be distracted further down the line by legacy IT. Technology creates commercial advantage and that’s something we’re keen to exploit. Microgen’s support of STEP demonstrated to us that they were the right calibre of company to be working with. And we were correct – it was just a matter of weeks from install to users fully trained.”
Director, Swiss Trust Company
“In this market, outstanding customer service is absolutely key to client retention. It was becoming increasingly clear that over time a legacy IT environment would not enable us to drive the company forward and would restrict our efforts to offer exceptional client management alongside more dynamic services. Collaborating with Microgen will enable us to remove multiple systems and migrate data into one central source. This will provide us with a “clean sheet,‟ underpinned by a best in class solution, from which we can streamline our business and create a platform for growth.”
Chief Financial Officer, Global Trust Company .
