IFS Maven Equity Finance invests £750K in workforce management system firm Corporate Modelling Services

Glasgow-based specialist workforce optimisation software provider, Corporate Modelling Services, has secured £750,000 in equity funding from the Investment Fund for Scotland, managed by Maven Capital Partners and delivered by the British Business Bank.

CMS helps clients to boost their back office operational efficiency and improve the end customer experience through the implementation of a suite of workforce optimisation technologies, delivered through its platform, OPX. 

The software currently supports organisations with multiple tools; two of which are – task allocation, ensuring the correctly skilled staff are working on the most suitable jobs at the right time, and employee time analysis.

By providing a system for effective management of resources and service demand, OPX says it can enhance customer operations and sit alongside or integrate with other software solutions, automating the data exchange between them.

Applicable across a range of sectors including financial services, utilities, telecommunications, government entities and retail, OPX can service clients of scale with up to 60,000 users.

The funding will allow the business to invest further in its platform, enhancing its capabilities and building out further AI functionality into its modular software suite. Funding will also support its growing sales function to service global operators, including current opportunities in the US, as well as embarking on a number of international partnerships to expand its customer reach. 

Craig McGill, Investment Manager at Maven, says: “CMS has built an impressive platform that can transform many businesses across different industries. Alex and the senior team are all highly driven, experienced individuals with a genuine entrepreneurial focus and we look forward to supporting the business as it enters this exciting next phase of growth.”

Alex Allan CEO at CMS, says: “I am delighted to be working with Maven. We didn’t want a passive investor and it was clear from the early conversations with Craig and the team at Maven that their market experience and contact base will help accelerate our growth, which in turn will allow us to deliver better customer experience, accelerate our AI technology roadmap and develop new markets.”

Mark Sterritt, Director, Nations and Regions Funds, at the British Business Bank, says: “The Investment Fund for Scotland was set up to support a nation of entrepreneurs, reflecting the critical role access to finance plays at every stage of their journey.”

“Technology continues to be a high growth sector for the Scottish economy and CMS is a great example of a business using specialist software to help companies all over the world to work more effectively and efficiently. We look forward to playing a part in the firm’s future growth.”

2024 RTIH INNOVATION AWARDS

Workforce optimisation technology is a key focus area for the sixth edition of the RTIH Innovation Awards, which is now open for entries.

The awards, sponsored by CADS, 3D Cloud, Brightpearl by Sage’s Lightning 50, and Retail Technology Show 2025, celebrate global tech innovation in a fast moving omnichannel world.

Key 2024 dates

Friday, 25th October: Award entry deadline 

Tuesday, 29th October: 2024 shortlist revealed

30th October-6th November: Judging days

Thursday, 21st November: Winners announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ in Central London.