Home Banking FEP installs $ 131, 000 ERP system to automate operations

FEP installs $ 131, 000 ERP system to automate operations

by Brian Yatich

FEP Holdings has implemented an Enterprise Resource Planning (ERP) system worth US$ 131,008 (Ksh13.5 million) in a bid to improve efficiency and enhance internal controls as part of it’s on going implementation of a framework strategy dubbed Explosion 2020.


According to Maurice Korir, the Chief Executive Officer of FEP Holdings, the strategy is aimed at attaining year on year bottom line growth of 30 per cent as a minimum and sustainable profit before tax of at least Ksh1 billion by 2020.


“The SAGE Evolution system will improve our management information system and streamline operations for optimal growth,” he said.


The ERP system comes with a procurement module that ensures all purchases follow the established procurement policies and tiered approval processes.


The ERP system also features fixed asset management and tagging which ensures that the Group has proper inventory of all its assets valued at KSh3Bn and their respective location. “This is important for safeguarding FEP Holdings’ existing assets,” he added.


With the installation of the system, Korir said the company would now be more customer centric, with incidents being booked into the system such as customer suggestions, complaints or any occurrence which requires action.


“We will now ensure that customer complaints are booked, actioned or escalated to the relevant person within a reasonable time,” he says


FEP Holdings Ltd has consolidated management of its businesses with a paradigm shift that moves away from managing enterprises on legal entity basis, to one that seeks to capitalise on synergies that can be derived from co-related business units.


The system’s branch accounting capability now ensures the centralization of all strategic business units’ records. “We have already linked the branches of Fountain Technologies Limited in Uganda and Tanzania to our ERP system with Ghana due to be linked this month,” he added.


The company has within the last two years recruited a new management team to head the audit, finance, investments & projects, procurement and marketing departments. “We also recruited division managers to lead commercial operations because at the end of the day, a system is as good as the people running it,” he said


The installation will also support more efficient employee payroll and performance management, improve gathering of business intelligence and harness the use of ICT for service delivery at all levels.


The automation will be extended to Fountain Credit Services Limited (FCSL) which installed a new core banking system and is set to roll out digital loans within this quarter.

The ERP system is part of the re-engineering of FEP Holdings’ operations to compete in a dynamic business ecosystem where disruptive technologies are consistently necessitating continued business innovation.

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