For every great achievement, there are unquantifiable sacrifices which often continue because there is a constant yearning for improvement. Again, great businesses begin small and people hardly bother about their origins, forgetting that a lot of other start-ups with them at the time they began no longer exist.
The story of Simplex Business Solution’s Prime Application Integrated Business Solution (IBS) started some 18 years ago; today, it has remained relevant in the business IT solution space. In this post, we bring you a concise story of how IBS emerged on the Software landscape, how it has steadily maintained positive growth and what is on the horizon.
WHAT IS IBS?
IBS means Integrated Business Solution. It is an Enterprise Resource Planning (ERP) solution designed for businesses across different sectors to help manage their business processes and transactions from inception to conclusion of a given service delivery.
IBS means Integrated Business Solution. It is an Enterprise Resource Planning (ERP) solution designed for businesses across different sectors to help manage their business processes and transactions from inception to conclusion of a given service delivery.
HOW WAS IBS CONCEIVED?
This road, travelled close to two decades, started with specific solution targeted at specific business problem. IBS kicked off with Fixed Asset software(Fawin). At the time most firms were calculating depreciation and fixed asset transactions manually.This was a big challenge especially for companies with a handful of assets acquired at different times over the years. Fawin solved this challenge and much more.
This road, travelled close to two decades, started with specific solution targeted at specific business problem. IBS kicked off with Fixed Asset software(Fawin). At the time most firms were calculating depreciation and fixed asset transactions manually.This was a big challenge especially for companies with a handful of assets acquired at different times over the years. Fawin solved this challenge and much more.
As time went by, there arose the need to have Fixed Asset post accounting data into the General Ledger (GL). Also, there were various GL Systems being used by companies at the time. Thus, we developed standard Fawin to GL interfaces and it worked like magic. It was so good that we had customers use Fawin as an automated journal posting for pre-payments like upfront salary/allowance, pre-paid rents etcetera. During this process, we discovered that most GL systems in use at the time had over a 1001 defects. We had to come up with our own GL to address the various customer needs in addition to the various shortcomings in the available G/L systems.
We therefore started out with a GL system that provided robust features for our customers and also fully integrated with our Fixed Asset software. At this point, it became apparent that what we conceived was far bigger than what we were executing. This was the beginning of IBS’ ERP journey.
THE GROWTH OF IBS
The delivery of the GL system opened a new horizon–users kept coming up with different needs: Cashbook Management, Reconciliation, Payroll, Inventory, Investment, and more.
The delivery of the GL system opened a new horizon–users kept coming up with different needs: Cashbook Management, Reconciliation, Payroll, Inventory, Investment, and more.
We equally realised that the GL was primarily a base, not an end in itself. Accountants form only 5-10% or less of employees in an organisation; meanwhile every organisational process has an accounting implication. Now, the BIG question was: How would a front office staff who studied Humanities (English for example) be able to capture a transaction and represent same in credit & debit accurately?
This was a very big challenge in the industry then and still is today. Our goal was to create solutions that would bridge this gap and this led to the creation of different modules to fit different business operations.
- The Cash Book Module was developed to address all the needs of an organisation that revolved around payments and receipts.
- Moneytor+, the Investment Application, was added to handle the 3 main classes of investment and ensure that every transaction captured gets posted to the GL seamlessly without the user even knowing.
- Multiplan: In year 2000, just as the Millennium bug came and eventually fizzled out, we saw the need for a software for the Life Insurance Industry. This led to the development of Multiplan–another major addition to IBS. It was a huge project that took almost 3 years to complete.
- Then came the boom in the Leasing Industry in Nigeria in late 2003 and early 2004; but there were very limited software, if any, to completely manage lease requirements. Simplex LeaseTrack provided the solution.
- The re-enactment of the Pension Industry Law early 2006 saw PFAs in need of applications that would combine Pension Management, Investment & Accounting. IBS was ready for them as it already had Accounting & Investment and had interfaces that could plug into other solutions that would provide Pension Administration.
LOOKING BACK
As we look back almost two decades, there’s this fulfillment though with yet a craving for satisfaction because there’s a lot of ground still to cover, especially as workers and business owners continue to go through a hard time in order to get things done as well as obtain information.
As we look back almost two decades, there’s this fulfillment though with yet a craving for satisfaction because there’s a lot of ground still to cover, especially as workers and business owners continue to go through a hard time in order to get things done as well as obtain information.
THE FUTURE OF IBS (IBS.NEXT)
The last 5 years has seen an explosion in the invention of handheld devices and businesses are conducted almost from anywhere. IBS.NEXT is poised to sit comfortably on any handheld device and grant the ability to do the same transactions from anywhere in the world.
The last 5 years has seen an explosion in the invention of handheld devices and businesses are conducted almost from anywhere. IBS.NEXT is poised to sit comfortably on any handheld device and grant the ability to do the same transactions from anywhere in the world.
Technology is growing at an exponential rate and until IBS is in the hands of every business user and they are getting their work done satisfactorily, it is only then that the Simplex/IBS dream would have been fulfilled.
To Learn more, visit our website www.simplexsystem.com
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