16th October 2020 – Advanced, the third largest British software and services company in the UK, announced today that it has acquired Mitrefinch, a global provider of workforce management solutions. It is Advanced’s second acquisition of 2020 following the
acquisition of Tikit a global legal, accounting and professional services software business in March
and the third since it received an investment from funds advised by BC Partners and Vista Equity
Partners to accelerate growth in August 2019. The deal marks an exit for leading mid-market private
equity investor LDC, which first backed Mitrefinch in 2016.
This latest deal boosts Advanced’s market share in HCM, and further strengthens its offering with
Cloud HR at its core, by offering a complete digital HR lifecycle from recruitment to retirement and
full management of the employee journey, while further supporting the company’s ambition to
become the number one provider of business software solutions in the UK and broadening its global
Established in 1979, Mitrefinch provides user-friendly, cutting edge products across integrated time
and attendance, payroll, HR and access control with sophisticated analytic capability. They help
some 4,400 customers in over 80 countries to increase productivity, profitability and manage their
workforce effectively, solving the complexities of managing time. With businesses losing an
estimated £80bn a year in wasted time, Mitrefinch helps organisations spend their time on what
matters most, with customers across all industries, including some of the UK’s largest
manufacturing, transport, retail and construction organisations.
Gordon Wilson, CEO of Advanced comments: “The innovative workforce management solutions
developed by Mitrefinch are an exceptional fit with our existing best of breed Cloud HR solution.
We’ve seen the impact of Covid-19 change the future of workforce management and shifting
workforce expectations, leaving companies facing uncertainties with regards to resourcing and
staffing. Digital technology provides accuracy of data to enable rapid decision-making in shifting
market conditions which is a vital tool for companies managing shift patterns and measuring critical
Matt Jenkins, CEO of Mitrefinch adds: “Mitrefinch has a strong reputation for developing
transformative products that help companies solve the complexities of managing time. Our solutions
will integrate with Advanced’s Financial Management Systems (FMS) as well as their full suite of
HCM solutions, enabling businesses to accelerate technology adoption. Covid-19 has accelerated
digital disruption in the HCM sector and we’re excited to be part of Advanced’s journey in disrupting
the market further.”
The acquisition of Mitrefinch underpins Advanced’s commitment to its Cloud-first strategy and
extends its Cloud HR offering to its enlarged customer base. Cloud HR provides a centralized
engine for HR departments and offers automation for manual processes and now integrated time
and attendance, payroll, HR and access control – solutions.
We are the third largest British software and services company in the UK. We help organizations
create the right digital foundations that drive productivity, insight and innovation – all while
remaining safe, secure and compliant.
We enable our customers to achieve increased efficiencies, savings and growth opportunities
through focused, right-first-time software solutions that evolve with the changing needs of their
business and the markets they operate in.
Our solutions for both commercial and public sector organizations simplify business challenges and
deliver immediate value, positively impacting millions of people’s lives.
We have a strong track record in helping our customers journey to the Cloud. We manage private,
public and hybrid Cloud environments as well as deliver sector specific Cloud-based solutions and
services. We are certified partners with Amazon Web Services (AWS) and Microsoft, and have
achieved the highest levels of accreditations.
Our Cloud solutions are used by organizations of all shapes and sizes including Highways England,
Performing Rights Society (PRS) and Aspire Furniture