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Index Ventures, the Geneva, London and Jersey-based venture capital firm, has selected Touchstone Group to implement Microsoft Dynamics GP v10 as part of a project to enhance its financial management systems.
Index Ventures, which has invested in over 100 companies across Europe and the US including BetFair, Lovefilm and Skype, selected Touchstone due to its strong track record on delivering Microsoft Dynamics GP solutions, particularly in the financial services sector.
Over the last 28 years Touchstone has installed business accounting solutions for some 135 organisations within the financial services sector including banks, insurance companies, Private Equity, and Venture Capital firms such as Index Ventures.
Touchstone’s involvement was part of a broader overhaul of Index Ventures’ accounting process and sees Microsoft Dynamics GP replace a number of existing accounting packages into one consolidated system. The new installation introduced a common chart of accounts for Index Ventures across its Group.
The new system provides a full audit trail providing analysis and reclassification of management fees across funds. It also provides consolidated reporting in chosen currencies which can be easily distributed to management. This is supported by a powerful reporting tool that allows excellent drill-down of information.
“Touchstone’s knowledge of the technology, of our business and of the Venture Capital sector helped deliver a solution that was tailor-made for us,” said Daniel O’Hanlon, CIO at Index Ventures.
“Having all our ledgers in one accounting system gives us consolidated processing and report production across our entire business. Our decision to speak to Touchstone was based on a recommendation. They didn’t try to sell us some new technology. They listened to our requirements and came up with a solution. They knew what they were talking about.”
As part of the project, Index Ventures has also signed up for Touchstone’s Managed Services solution from partner organisation Insite providing hosting, management and support for the new business system. The managed services means that Index Ventures can concentrate on its core business, safe in the knowledge that its business systems are being monitored 24/7 using best practise techniques.
Commenting on this latest successful implementation Tory Cassie, GP Business Development Manager from Touchstone said: “This deal with Index Ventures is a further endorsement of our ability to provide business accounting solutions to the financial sector. Part of our success has been down to the leading business accounting software we select and implemented for our clients to ensure they get the very best solution available.”
“But what sets us apart is the expertise and know-how we have in-house to implement solutions for the financial sector.”
Touchstone is Microsoft’s leading UK Microsoft Dynamics GP Partner with experience gained from more than 300 successful implementation projects including Comic Relief, Irish Taxation Institute, Liquid Capital Markets and Thomson Directories.