Based in Jersey, Dominion Corporate Group (DCG) have a corporate client base and provide a very different range of services to the traditional trust company. We have been working with them since 2003.
"I think I must have seen nearly every offshore system at one point or another. There are certain basic requirements for all of them, but Troika's real advantage for us is its intranet service (FISH). Effectively, FISH has become our staff's principle system. It's a great way to optimise client service by providing information, real-time and company-wide."
James Coyle, Head of Information Technology, DCG
Background
Jersey's well-established legal framework has allowed the development of an almost bewildering number of new investment vehicles across multiple jurisdictions. DCG provide Jersey Property Unit Trusts (JPUT), Limited Partnerships(LP), Fund Administration as well as corporate trust and company services. They also provide administration services for companies in Luxembourg, Delaware, Cayman Islands and the British Virgin Islands.
Our brief
- To provide a multi-currency bookkeeping and client accounting system for a range of offshore investment vehicles, with full training and local installation support.
- To provide an intranet service for all key information systems across the organisation.
- To develop Troika in consultation with DCG staff to provide administration services for a range of investment vehicles.
- To increase the efficiency of repetitive and time-consuming tasks such as annual returns production.
Our solution
DCG use Troika's wealth management module for their accounts production and bookkeeping; the time and billing module for time recording and the administration module for company secretarial services.
In addition, FISH links to DCG's internal company bookkeeping system to give client managers a full view of their client's data, as well as vital information about DCG's relationship with that client. Future developments already planned include implementation of new intranet reporting and additional enhancements to the diary system.
The result
thewealthworks now has some local Jersey support staff to assist DCG in training and day-to-day queries, as well as the central expert support and development services.
James Coyle says: "It was important that any system we adopted could keep pace with the way DCG itself is growing. Troika uses standard Microsoft tools so we have no real 'future proofing' concerns, but we also wanted a system with locally based support, which thewealthworks were able to provide."
thewealthworks are also delivering some changes to the system which mean DCG's company secretarial team can better record information on unit trusts and partnerships. Jersey has just introduced the legal framework for foundations and Troika should be well placed to be able to handle this new structure.
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