The news that systemsync has got over £800,000 of angel funding should delight anyone wishing to see auto-enrolment work for our SMEs and micros. It’s going to be good news for payroll software companies and good news for pension providers.
The digital plumber
SystemSync is a digital plumber, providing the pipes through which people’s data can flow so that the right money goes to the right place at the right time. They make sure that the pipes don’t leak or worse rupture, spilling personal data all over the net.
My personal experience of working with Will Lovegrove , the architect of the deal and genius plumber, has been a happy one. So far, he has overseen much of the development work on PAPDIS, working with the CIPP and tPR as well as a group of providers and payroll software houses.
PAPDIS is the file format we hope will become a data standard. to use the plumbing analogy PAPDIS ensures that what goes into the system has the right ingredients, SystemSync makes sure that these ingredients come out the other end of the pipe just as needed.
Will has given of his time for nothing to make PAPDIS happen. I hope PAPDIS will be the launchpad for his wider aim to make auto-enrolment happen for everyone.
Three immediate benefits from systemsync’s work.
The new technology means that there can be an integrated approach to data transfer, reducing risk to payroll software company and improving efficiency. The investment they make in adopting systemsync’s approach is repaid in lower ongoing costs and lower operational risk.
For payroll bureaux, managed and in-house payrolls, systemsync’s plumbing means that data can be exported at a push of a button. The laborious processes of creating CSV files and exporting them manually to pension providers could be a thing of the past.
It means that insurers have data that is delivered to them in a format they can recognise so that they get things right first time. The expensive difficult work of unpicking data errors can be much reduced, IGCs and master trustees should be breathing a sigh of relief.
But best of all, systemsync can now deliver the means to make sure those who work for SMEs and Micros can share in the auto-enrolment revolution just as those who work in the larger companies are doing. Technology democratises good practice and systemsync demonstrate that process.
Democratising best practice
Just as we at pension playpen are using technology to ensure that smaller employers can make informed choices on the workplace pension, systemsync’s software will enable their data managers to provide a quality of service you’d expect if you worked in a FTSE100 company.
No one should get left behind. In all my dealings with Will, I have sensed I am working with someone who is not thinking about how things are, but how they should be. In the Pension Bib meetings, Will has become a touchstone for best practice and has shown an absolute commitment to making sure auto-enrolment is done right.
When I spoke to Will last night, we were clear that we work to the same purpose, to make sure auto-enrolment delivers the best pension outcomes to its participants. While we may be front of house selling best practice in pensions, Will is busy as stage manager.
While we pour out the ingredients , Will is managing the plumbing.
We should be very happy, grateful and supportive. Well done Will and your team. I hope that your “plumbing” is adopted by all payroll software providers , benefits payroll managers whether in-house or agents and enables insurers and master trusts to continue providing auto-enrolment services for decades to come.
A video and a press release!
Here’s press release announcing the deal and Will’s brilliant take on how auto-enrolment did for the Third Reich
Systemsync solutions ltd is pleased to announce an initial investment of over £800k from a small group of angel investors to complete product development, and start delivery following commercial launch.
Systemsync solution ltd’s Data Integration Platform, addresses the iPAAS (Integration
Platform as a Service) market, allowing clients to easily integrate disparate IT systems within and between organisations. Being Cloud-based, and including high levels of data encryption,the Data Integration Platform is particularly suited to high volume integration in markets where regulation and commercial sensitivity is key, as well as for smaller and medium-sized organisations who cannot afford the cost and complexity of more traditional data integration solutions.
Systemsync Solutions Ltd was founded by CEO Will Lovegrove and two colleagues as a spinout from their previous business Release Consulting Ltd, which has provided outsourced software development and support services to major music industry clients for over 8 years.
Eight additional staff are also moving from Release Consulting Ltd to systemsync solutions ltd following this initial investment.
Systemsync solutions ltd has the UK’s auto-enrollment pension market as its initial application area. Having identified a significant gap in the market, they started developing the software over 12 months ago and it is now in beta tests with several Payroll Software and Pension
The software will enable low cost, easy, safe and secure transmission of millions of individual’s pension data from either Cloud-hosted or Desktop Payroll Software applications to the multiple pension providers who offer workplace pension schemes to UK businesses. As part of developing this market opportunity, systemsync solutions Ltd has worked alongside The Pensions Regulator, The Chartered Institute of Payroll Professionals and major players in the market to define The PAPDIS data standard for this market.
Will Lovegrove said that
“We have worked hard for over a year to create this product and
position ourselves into an initial, large, marketplace. We are very pleased to have attracted several high profile investors for this initial round to take us through to establishing a strong foothold in the market, and much appreciate their confidence in our business”.
The team has been working over the past 5 months with Alwyn Welch, former CEO and
senior executive at Aircom, Parity, Unisys and Cap Gemini. Welch, who has now joined
systemsync as Non-Exec Chairman, commented “ I am really pleased to be joining Will and his team in this very exciting company, building an iPAAS product that has application across many sectors”.
For further information please contact:
Will Lovegrove, CEO, on firstname.lastname@example.org or 07515 721603
Alwyn Welch, Non-Exec Chairman, on email@example.com