Tuesday, May 13, 2014

Leading Bangladeshi property developer Rangs Properties selects IFS Applications

IFS, the global enterprise applications company, announces that Rangs Properties Limited, a leading property developer in Bangladesh, has chosen IFS Applications™ to streamline business operations across its nation-wide property projects.

Rangs Properties Ltd, a sister concern of RANGS GROUP, builds apartments and commercial complexes in prime locations. The company was looking to expand and upgrade its existing business solutions, which were a mixture of home-grown systems and accounting packages, in order to improve operational efficiency throughout the entire organization. Due to the rapid development of housing and infrastructure projects in the country, Rangs Properties needed a robust and agile business system. The company opted to extend its existing IFS solution because of the benefits realized to date, the agility of IFS Applications to accommodate change in the future, and the speed with which IFS could be implemented across the wider organization.

By deploying a project-based solution from IFS, Rangs Properties will benefit from enhanced visibility of finance and inventory by projects, improved project planning, estimating, variation controls, collaboration and sub-contracting, as well as site and asset management. With IFS Applications as its central business system, Rangs Properties is well positioned to drive business expansion by quickly adapting to changing market demands.

Rangs Properties Ltd will implement a project-based solution with functionality for financials, project management including sub-contracting and estimating, distribution, HR, document management, and business analytics. The solution will be rolled out at the Rangs Group head office in Tejgoan, Dhaka as well as at 18 additional sites. The implementation will be carried out by IFS consultants working in close collaboration with the Dhaka-based implementation partner BiTS (Brac IT Services).

“We found that IFS met our expectations in terms of functionality and deployment,” said Syed Sazzad Ali, Deputy General Manager, Head Of IT, Rangs Group. “Furthermore, the IFS consultants’ understanding of the property development industry, as well as the attractive features and user-friendliness of IFS Applications 8, were other main criteria for our selection. Rangs Properties Ltd is the third company in the Rangs Group to implement IFS Applications and we are happy to continue the success story and the great relationship we have built while implementing the first two companies.”

Commenting on the customer win was Zahid Khan, Head of Operations, IFS Bangladesh, "Property development is one of the most dynamic business domains in Bangladesh and one in which IFS is able to  offer comprehensive system support. As one of the country’s top five property development and marketing companies, Rangs Properties is an excellent reference for IFS in this industry. We are convinced that IFS Applications will support Rangs Properties’ business-critical processes and we look forward to a successful implementation project.”

About IFS

IFS™ is a globally recognized leader in developing and delivering business software that helps companies increase agility in three core areas: enterprise resource planning (ERP), enterprise asset management (EAM), and enterprise service management (ESM). Using deep industry-focused expertise, IFS empowers customers in targeted sectors to become as agile as their thinking. IFS is a public company (XSTO: IFS) that was founded in 1983, and currently has over 2,600 employees. IFS supports more than 2,200 customers worldwide from local offices and through partners in more than 60 countries. For more information visit: www.ifsworld.com.

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Contact Information

Vice President, Corporate Communications Oliver Pilgerstorfer

Phone: 44 1494 428900

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Head of IR Frédéric Guigues

Phone: +46 8 58 78 45 00

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