Nigerian firm launches software solution to battle organisational frauds

Nigeria-based consultancy group Farsight Consulting Services has introduced a new software solution dubbed FinTrack ERP into the Nigerian market to help organisations fight fraud.

Speaking at an event in Lagos on the impact the solution would have on Nigerian businesses, Bimbo Abioye, a managing partner at Farsight Consulting Services, said FinTrack ERP will positively impact upon financial organisations, pensions and tax offices and other corporate institutions in ensuring efficient day-to-day operations.

“FinTrack software offers complete International Financial Reporting Standards (IFRS) solution end-to-end. These include IFRS calculation engine; IFRS reports, IFRS disclosures and group consolidation platform. It has built [a] reputation in financial services industry as software that works even in environments where other options have failed,” he said.

He described FinTrack ERP as a major focus of Farsight Consulting Services since the company started operations some years ago. He stated the launching of the software was the fruition of the company’s persistence as it researched deeper to the core of business applications with special emphasis on the Nigerian business sector.

He also highlighted the advantages of the new software solution, especially in the handling of organisational situations that are complex.

He said that the mission of the company with the software is a “patriotic mission to save businesses in Nigeria from fraudulent exploitation orchestrated by foreign software vendors and their Nigerian salesmen through sales of suboptimal software.”

Abioye urged the government departments at all levels, public and private organisations to procure and take advantage of the software, whose deployment his company would facilitate, as it could help in reclassifying and remapping general ledgers in line with IFRS reporting standards and organization-specific multiple issues.

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