TDR Capital

About TDR Capital

TDR Capital is a leading private equity firm, founded in 2002 by Manjit Dale and Stephen Robertson. TDR have delivered excellent returns for investors, investing in businesses such as Virgin Trains, Pizza Express and Center Parcs, managing their risk effectively and generating value. They currently manage funds and corporate entities totalling €4.7 billion and have completed transactions with an aggregate value in excess of €15 billion.

The issue

TDR’s finance function was previously supported by an associated hedge fund. With no control over their reports and information, they identified the need for an in-house accounting and reporting system. With assistance from 3rd party consultants, 4VCO, the Finance Team met with various providers. All stakeholders within the selection process felt PS Financials was both flexible and the most suitable for a Private Equity firm: “PS Financials is ideal for a Private Equity firm as it enables us to easily combine information for all of our funds and entities in one place.”

The solution

PS Financials was the ideal solution for TDR Capital as it met their complex accounting and reporting requirements; including the ability to utilise multiple currencies and manage several companies, entities and funds. The reports available have given TDR full financial visibility of their multi-layered organisation, with no manual work required.

Despite their varying levels of accounting and IT knowledge, the Finance Team have found PS Financials user-friendly and easy to navigate, which was another important criteria within the selection process.

The implementation

TDR were extremely pleased with the PS Financials Team: “The consultants’ knowledge was very impressive. They knew the system intricately and were able to answer any questions we had straight away.” Because of the consultants’ in depth knowledge, any concerns were resolved instantly making the implementation a smooth and straightforward process.

The benefits

TDR have found PS Financials very easy to learn: “The system is user friendly and caters to various levels of accounting knowledge. Different members of the Team are able to use the software to carry out various tasks. For example, the Accounts Assistant can post invoices and expense claims, whilst the Financial Director uses the software to easily run reports on-demand.” The user acceptance of PS Financials has been excellent. The support provided by PS Financials has been well received: “We have had great experience with the Support Team who are extremely helpful and knowledgeable.” Working closely with PS Financials has meant TDR have been able to suggest enhancements to the software, in line with the requirements of the Private Equity sector.

TDR Capital can easily handle multiple companies, with the ability to manage several funds concurrently:

“PS Financials enables us to account for and report against all entities simultaneously.” Finance users can analyse and report on information instantly, using the inbuilt enquiry facilities. This has saved TDR time as they are able to respond to queries quickly whilst managing their funds and entities efficiently. The benefits of the multi-currency capabilities in PS Financials are also praised: “The facilities are great. We are able to easily post multi-currency transactions and assign different currencies to specific accounts.”

All of TDR Capital’s finances are now managed from one central point – a key requirement. Integrating PS Financials with their existing software packages, such as Vision Q&A, has meant their use of reports has been maximised. “With PS Financials, we have now simplified our processes and can view our data in real time.”

The future

TDR Capital are extremely pleased with PS Financials: “Having used PS Financials for a number of years, we find that it works very well for us.” TDR have recently completed a major system upgrade project, which demonstrates their confidence in PS Financials as a key business management solution for the future.