IMP Software, specialists in provision of Multi-Academy Trust (MAT) budgeting and financial management software, are toasting success after a flurry of new customers took them past the 1,000-school milestone – less than three years after the company was formed.
Exeter-based IMP is now working with 119 MATs, comprising 1,008 schools, which are reaping the benefits of its award-winning IMP Planner system. The MAT-led budgeting, forecasting and reporting tool is being implemented by Trusts of all sizes overseeing primary, secondary and special schools across England.
Co-founder Will Jordan described the landmark as a “huge team accomplishment” for a company which was founded in 2019 and whose customer base and team – from nine to 25 people – has more than doubled in the past 12 months, despite the ongoing global pandemic.
“Financial management has always been a hot topic in the education sector and Covid-19 has further changed the landscape for academies and Trusts in terms of budget monitoring and financial viability,” Will said. “MATs are required to co-ordinate their planning and budgeting processes, apply discipline in financial management, and prepare monthly budget monitoring reports. If a Trust lacks the appropriate software or processes to easily produce adequate accounts, they are directed to address this. IMP Planner is proven to take away the pain points for MATs, providing the budget position for the Trust as well as the position of individual academies, and brings both time and cost efficiencies.”
With the Department for Education, which oversees MATs, stressing this month its vision for all schools to join MATs, Will said this would likely bring further opportunity for IMP Software. “We are currently supporting MATs which are growing, and also MATs which are coming together through merger, and all this is underpinned by first-class advice on budget planning and resource optimisation and exemplary customer support”, he explained. “This has been made possible by recruiting a team of MAT finance system experts and, most importantly, by establishing ourselves as the only provider in the budget planning and financial management space that has a solution designed specifically for MATs.”
Whilst IMP Software has developed an enviable reputation as a trusted education partner its impact goes far beyond its customer base. Next month the company will announce the winners of the inaugural MAT Finance Awards, which it proudly sponsors and has convened, giving multi-academy trust finance professionals the opportunity to celebrate their hard work, share best practice and showcase their impact.
“It is almost exactly 12 months ago that we first had the idea to set up the awards given the gap we perceived for MAT finance leaders, teams and wider Trust champions to be recognised and rewarded through such an awards scheme,” Will said. “The online awards evening on 15th December is one that we are looking forward to immensely. We have been overwhelmed by the response and this has only increased our aspiration for these awards to become a permanent fixture in the education events calendar.”