StArbiter - I mean the sort of package provided by the suppliers whose adds you see if you enter "alumni package" in Google.... Abattia, Youralumni, SubHub, Interology.
I believe that most of the major school MIS suppliers in the UK (including Serco) will offer supported integration with, and possibly re-sell, one or other of these offerings (or have their own in-house "alumni" functionality in their products). If your alumni database functionality is integrated with your school MIS, annual leavers migrations, putting your sixth form on your alumni site before they leave, reporting CVA ("contextual value added"), matching work experience opportunities provided by alumni with aspirations of current students, etc ... all become much easier.
Hope that helps!