BRITAIN'S largest privately owned software company has expanded its business acquisitions to boost its Bournemouth-based financial management systems division. Iris software has taken over Kent-based 5 Star Computer Systems Limited, a leading reseller and partner in its multi-award-winning financial management system for mid-sized organisations, Iris Exchequer.
The deal, for an undisclosed sum, sees 5 Star join the growing portfolio of the Iris Accounting and Business Solutions Division which comprises the mid-market ERP systems, Exchequer and Chorus and the project management solutions, Iris Projectminder and Iris Sharpowl. The division has headquarters in Bournemouth with offices in Brighton, Barnstaple, West Bromwich and Norwich.
Created in 1994 and currently employing 25 people, 5 Star Computer Systems provides a consultancy service to medium-sized companies using business accounting systems in South East England, including the Exchequer system, which is currently seeing sales increase by 15 per cent year on year. Founders, Andrew and Graeme Clarke will remain with 5 Star.
Exchequer has been rated the best mid-range software product for business by the Institute of Chartered Accountants in England and Wales (ICAEW 2006) and is the three-times winner and current holder of the title Financial Software Provider of the Year in the FD's Excellence Awards held in association with the CBI. Its customer retention rates are 95 per cent year on year.
Stuart Dawson, managing director of Iris Accounting and Business Solutions said: "We are delighted that 5 Star is joining forces with IRIS as they have been the number one reseller of IRIS Exchequer for some years and a valued business partner since 1999. Their expertise in the implementation, support and bespoke development of the Exchequer product will be invaluable moving forward. Customers are already benefiting from the expansion of the Iris Group allowing them to implement fully integrated specialist systems from a single vendor with Exchequer at the heart of the system.
"As always, our emphasis will be very much on ensuring business as usual' for the customer base."
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