Thomas Murray releases SupplierSelect software to Australian and New Zealand markets

Today marks an exciting development at Thomas Murray IDS Australia and New Zealand, as we announce the Australian release of our multi-purpose software tool SupplierSelect for Financial Services (SupplierSelect). SupplierSelect is suitable for Australian Superannuation Funds with in-house investment teams and will help them appoint, monitor, and manage financial services providers. It is designed for business leaders as it provides audited transparent decision making.

My colleagues and I have been uniquely privileged to see a wide range of Fund operational challenges on a regular basis. One that is very familiar to us is an Institutional investor making major procurement decisions or monitoring key service providers with the use of an in-house spreadsheet. The administrative challenges of drafting, issuing, re-issuing, and scoring complex due diligence questionnaires and policy reviews can be formidable.

In response to this growing client need, our London team have developed a software tool to help with this task. It is now in its third major iteration which has been in constant development for the past ten years, constantly improving with client feedback. It is already making inroads in financial services across the world and is killing off the dreaded spreadsheet one client at a time!

One of our Australian Superannuation clients, Equipsuper recently used SupplierSelect for the first time to manage a recent tender. “SupplierSelect made it really easy to conduct our recent IT tender. From streamlined invitation and communication management to simple and efficient tender processing,” said Mary Nottle, Head of Technology at Equipsuper. “I personally found it intuitive when setting up our project online and had complete visibility of responses and changes at all stages of the RFP lifecycle.”


One of the features I particularly like is its robust audit trail and transparency. These make for a very level playing field for both evaluators and respondents. I can see it being utilised by Funds for any procurement or governance situation, from Investment Manager Operational Due Diligence to proactively monitoring their Administrators.

Over time I am finding that some well-resourced Funds wanted the tools to centrally manage repeatable events in-house, without the expense of a consultant-run RFP. By utilising SupplierSelect, questions can easily be reused across projects and our global clients are enjoying the efficiency and compliance improvements it offers. SupplierSelect can be easily white labelled and quickly implemented nicely meets their APRA / Board / ASIC governance and reporting requirements.

Thomas Murray IDS (TMIDS) was established in 1994 and has its headquarters in the UK (London) and has offices in Australia (Melbourne), Canada (Toronto), Hong Kong, and the USA (New York). They provide benchmarking, monitoring, selection and customised advisory services for institutional investors, focusing on costs, risks, and operational performance associated with service providers.

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Adam Zani is Director, Thomas Murray IDS Australia and New Zealand.

For further information, or to request a demonstration of SupplierSelect feel free to contact Adam on +61 (0)404 882 373, or email him at azani@ids.thomasmurray.com



Tags: SupplierSelect for Financial ServicesFundsInstitutional investorsprocurementmonitoringdue diligencequestionnairesAustralian Superannuation FundsEquipsuperRFPprocurement softwaregovernance