31 January, 2017

Bangladesh’s leading financial services provider selects IFS Applications


LankaBangla Finance Limited to deploy IFS Applications™ 9 for 1,300 employees to drive customer service efficiency

IFS, the global enterprise applications company, announces that LankaBangla Finance Limited (LBFL) has chosen to implement IFS Applications 9 to support mission-critical processes such as financials, procurement, inventory management, HR, and document management.

After an extensive evaluation process covering all major tier-one ERP vendors, IFS Applications was selected for its user-friendliness, robust local support, and successful track record in Bangladesh.

The solution will be deployed and rolled out across all LBFL branches and around 1,300 employees will be connected to the system giving management throughout the organization a complete view of resources and performance for quick and accurate decision-making.

IFS Applications will support business-critical processes such human resource management, which covers the strategic aspects of recruitment planning, recruitment, training and development, competency mapping and development. The solution also supports operational HR aspects such as time and attendance, payroll, employee administration, benefits, and expenses management.

IFS Applications will empower LBFL with the ability to monitor and map the employees’ complete hire-to-retire process. In addition, the IFS solution has built-in statutory functionality and features reports that are specific to enterprises in Bangladesh. IFS’s HR module will be seamlessly integrated with back-end finance modules such as general ledger and accounts payable and receivable.

“We were impressed with the capabilities of IFS Applications. Combined with the professionalism and commitment demonstrated by the IFS team gave us the confidence to select IFS Applications as the most fitting solution to achieve our objectives,” LBFL CEO & Managing Director Mr Md Nasir Uddin Chowdhury said. “We look forward to a rapid implementation and a long and fruitful collaboration with IFS.”

Mr. Asanga Marasinghe, Country Director for IFS in Bangladesh, added, “It is with pleasure that we embark on this implementation project together with LankaBangla Finance Limited. We are confident that IFS’s technology will bring about great improvements in efficiency, as well as greater visibility and integrity throughout the company’s operations. IFS understands very well the business challenges associated with such a large-scale implementation and we look forward to leveraging our long experience and local presence to deliver an outstanding solution that will meets the high standards of LBFL.”

About LankaBangla Finance Limited

LankaBangla Finance Limited started its journey long back in 1997 as a joint-venture financial institution with multinational collaboration having license from Bangladesh Bank under Financial Institution Act-1993. Now LankaBangla is the country’s leading provider of integrated financial services including Corporate Financial Services, Personal Financial Services, SME Financial Services, Stock Broking, Corporate Advisory and Wealth Management Services. LankaBangla is the market leader in the capital market services and has been giving all-out effort to develop an efficient, vibrant and transparent capital market in Bangladesh. Through our subsidiary LankaBangla Securities Limited, we are providing top notch broking services and leading the industry with cutting edge trading, top rated research and customer service. Another subsidiary, LankaBangla Investments Limited is a premier investment bank in the country providing corporate advisory, issue management and portfolio management services. The other subsidiary, LankaBangla Asset Management Company Limited is providing professional wealth management services. For more information visit: www.lankabangla.com

About IFS

IFS™ is a globally recognized leader in developing and delivering enterprise software for enterprise resource planning (ERP), enterprise asset management (EAM) and enterprise service management (ESM). Founded in 1983, IFS bring customers in targeted sectors closer to their business, helps them be more agile and prepare for what's next in their industry. IFS’s 2,800 employees support more than 1 million users worldwide from its network of local offices and through a growing ecosystem of partners. For more information, visit: IFSworld.com.

Follow us on Twitter: @ifsworld

Visit the IFS Blog on technology, innovation and creativity: http://blog.ifsworld.com/

Contact Information

Niroshani De Silva

Contact Niroshani De Silva