Ingenuity Solutions aims for major share


  • Business
  • Thursday, 14 Oct 2004

LOCAL software house Ingenuity Solutions Bhd expects to capture a sizeable share of the mid-range accounting solutions market, estimated to be about RM100mil per year, with its in-house developed financial management solution FiRST. 

Speaking after the launch of FiRST in Petaling Jaya yesterday, Ingenuity chief executive officer Azman Ahmad said: “We expect FiRST to account to some 15% to 20% of our total group turnover within the next 12 months.” 

FiRST, an acronym for Financial Reporting Statements, is a fully integrated solution targeted at small- and medium-sized enterprises operating in the trading, services, retail and light manufacturing industries.  

Ingenuity chief technical officer Yau Yat Hoong said FiRST was designed to provide customers with a pro-business system that was simple to set up and operate yet comprehensive and scaleable, hence offering them long-term operational efficiency and reducing their future expenditure for upgrading software as their businesses grow. 

Yau said the company was confident the solution would secure a sizeable share in the target mid-range accounting solutions market because it was affordable, comprehensive, user-friendly and net-ready. 

Yau Yat Hoong (right) and Ingenuity Solutions chairman Dr Shafiq Abdullah holding a box of Ingenuity FIRST solution.

He said net-readiness was particularly relevant in today's mobile and wireless business environment. Companies with mobile employees could securely conduct transactions and input data at anytime, anyplace while on the move. The solution is also GST compliant. 

“FiRST was also developed with our prospective resellers and dealers in mind. In addition to being comprehensive, very scalable and standardised, it is a hassle-free product that requires minimal training and is easy to support,” he added. 

The solution, soft-launched about three months ago, has received good take-up rate from dealers and Ingenuity aims to build up to 80 exclusive dealers for FiRST in Malaysia by year-end. 

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