Bangladesh’s top financial services provider selects IFS Applications

Asanga Marasinghe, Country Director IFS Bangladesh handing over the agreement to Mohammed Nasir Uddin Chowdhury, Managing Director LankaBangla Finance Limited (LBFL)

IFS, the global enterprise applications company, announced 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 MrMd Nasir Uddin Chowdhury said.“We look forward to a rapid implementation and a long and fruitful collaboration with IFS.”
Asanga Marasinghe, Country Director for IFS in Bangladesh, added,“It is with pleasure that we embark on this implementation projecttogether 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 welook forward to leveraging our long experience and local presence to deliver an outstanding solution that will meets the high standards of LBFL.”