Towry Law wins industry award for best use of IT Thursday 22 March 2001 PDF Print Towry Law, the leading independent financial adviser has won the 'Best use of IT in insurance' prize at the Financial Sector Technology awards. The prize was presented to Managing Director, Miles Standish and Chief Operating Officer, Keith Webb at the ceremony held on 8th March at the Landmark Hotel in London. The award is further evidence of the success of Towry Law's strategy to become a virtual operations company by using third party experts to manage its non-core business activities. In 1999 Towry Law formed a ten-year partnership with CMG Admiral in the UK to deliver management consultancy and business-focused technology applications to provide efficient independent financial services, whilst it has concentrated on the provision of financial services. Towry Law's revenues have grown from £23 million in 1998 to £61 million in 2000. The award recognises the significant successes that the partnership has achieved in a number of areas. Firstly, the overhaul of its core IT systems. This has delivered Towry Law considerable cost-savings, increased resilience, a robust platform to move forward, and an enterprise-wide view of business activity from a management perspective. Secondly, the implementation of an end-to-end Life & Pensions solution that enables it to manage client accounts from point-of-sale through to the back office, in a seamless end-to-end process. This has resulted in annual cost savings of approximately £1m, as support staff can manage more financial consultants; marketing campaigns are conducted more effectively and commission and fee handling is managed more efficiently. And, lastly, looking to the future the award recognises how Towry Law is responding to the potential of eCommerce. With Stakeholder Pensions becoming available in April 2001, CMG Admiral has redeveloped and recently launched Towry Law's web site. It is now capable of exploiting business-to-consumer opportunities driven by the sub '1% world'. Keith Webb, Chief Operating Officer, Towry Law, commented; "Towry Law is thrilled to have won this award. We have always seen the application of IT as a major strategic differentiator. So, to get recognition from the industry for the hard work we have carried out with CMG Admiral gives us a great boost." Ken McCarthy, Managing Director, CMG Admiral Financial Services said; "This award recognises the partnership that has been established between Towry Law and CMG Admiral and the tremendous work that has been undertaken in re-engineering the Life and Pensions industries supply chain." CMG Admiral Enquiries: Imogen Beck, CMG Admiral, Parnell House, 25 Wilton Road, London, SW1V 1LW. Tel 020 7592 4755, Fax 020 7592 4157, Email: firstname.lastname@example.org James Read/Richard Moore, Citigate Technology, Tel: 01604 232223, Fax: 01604 234501, 7 Albion Place, Northampton, NN1 1UD, Email: email@example.com or firstname.lastname@example.org Background to CMG Admiral CMG Admiral is part of the CMG group and represents the combined UK business of CMG and Admiral. With over 3500 staff throughout the UK CMG Admiral offers the strength to deliver global solutions locally. CMG Admiral is focused on enabling clients to gain maximum advantage from technological innovation. CMG Admiral provides a pragmatic, partnership approach and is committed to building long term relationships with clients. CMG is a global Information & Communications Technology (ICT) group, with leading positions in the provision of business information solutions and mobile messaging and billing products. Through management consultancy, systems development & integration, software applications and outsourcing, CMG helps organisations to build secure ICT infrastructures that enable the adoption of new business models for electronic and mobile commerce. Established in 1964, CMG is headquartered in London and Hoofddorp (near Amsterdam) and now implements and supports applications for customers worldwide from bases in 16 countries. CMG has proven knowledge, solutions and products across a wide spectrum of markets, including finance, transport, telecommunications, media, petrochemicals, utilities, retail, manufacturing and government agencies. The Group also provides outsourced business services ranging from payroll processing, call centres and networked systems to infrastructure management, application maintenance and hosting. CMG Wireless Data Solutions has established a leading position in wireless messaging and gateway products, mobile Internet and e-mail, cell broadcast and customer care & billing systems. These products are provided to mobile telecommunication operators and service providers worldwide from offices in Europe, the Americas and Asia Pacific. CMG works alongside its customers in long term relationships to generate success for them. Through the quality of its services, products and professionally committed people, CMG adds value to its customers' businesses. This creates a basis for the Group's sustained success. CMG is listed on both the London Stock Exchange (FTSE 100 and techMARK 100) and Amsterdam Exchanges (AEX Midcap). http://www.cmg.co.uk This press release was distributed by ResponseSource Press Release Wire on behalf of Citigate Dewe Rogerson in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.