PFS Decorated @ IBSQ Awards

Aspire West Africa in collaboration with the Entrepreneurship and Leadership Initiative for Development at its annual international business conference in Ghana has conferred International Business Star Quality [IBSQ] Award on Precise Financial Systems [PFS] as best software company in Africa.

The annual honours in various categories, recognizes organisations that have excelled in their services and continued to push the limits of quality with fresh innovations.

Aspire West Africa, a US-based sub-regional magazine, said in a statement that PFS earned the award for working in a dynamic economic sector where access to trusted and quality software products and solutions are extremely challenging for business.

“PFS have kept faith with Nigerians without diminishing its standards in service delivery and brand quality”. Its commitment in the design of electronic payment software services have moved it to innovate around service quality.

“This has enabled it to stand out in its sector and used as a reference point in Africa”, the award organizers said.

While commenting on the IBSQ award, Theophilius Enyali, executive secretary of Aspire West Africa, said the award takes a comprehensive look at the hard work that business leaders put into their companies, adding that Aspire recognised the efforts of exceptional employees, and so “provides motivation for continuous progress. We desire that this award will spur PFS to greater height in quality service delivery”.

PFS’ innovative software solutions are running thousands of computers, serving numerous clients in Nigeria and 27 other countries in Africa.

The company’s cutting edge environmentally-friendly software technologies include an integrated account reconciliation solution, cheque and e-payment processing, security and remittance solution as well as send-to-end outward and inward cheque clearing solutions.

Recently, PFS worked with the Nigeria InterBank Settlement Systems (NIBSS) to shorten the settlement cycle of a cheque to one day. PFS has implemented the cheque truncation lifecycle for the Central Bank of Nigeria [CBN].

This project ensured that all cheques presented for settlement are resolved within stipulated date across the country.

With the activation of the cheque truncation regime through PFS’ iTELLER platform in Nigeria, important challenge the system has addressed is the ability of the CBN to meet the deadline for cheque truncation nationwide.

Aside, the platform has also assisted the CBN to reduce cost, time and the stress level involved in its cheque clearing operations. The system “removes all logistics costs” associated with clearing.

Enyali said the IBSQ award recipients are nominated and ratified by an international award board comprising leading business experts, employing a rigorous and transparent selection process.

The board received input from influential business and media executives before ratifying the nominations.

He added that recipients are selected based on their commitment and contributions to excellence, innovation and technology leadership within their various sectors of operation.

“Brand quality and business results are also considered”, he said.

Over the years, PFS has worked with many agencies and partners to deliver financial software services to its clients.

These partners include Microsoft Corporation, Ernst Reiner Gmbh & Co. KG, Germany, Arit of Africa, and International Marketing Partners. PFS is also a member of the Presidential Initiative for development of the software industry in Nigeria and a member of the CBN working group on Automated Clearing House and Cheque Truncation.

Others are cheque MICRisation and personalisation solution, banking and finance solution, bonds and financial derivatives trading and monitoring solution, bureau de change solution; cooperative societies solution, stock brokering solution; billing and revenue collection solution. Card issuance and monitoring systems, self-service cheque, cash and card deposit with withdrawal solution, pension remittance monitoring solution, project appraisal and monitoring solution.

Through these ingenious solutions, PFS has successfully positioned itself as a foremost force in the financial software development space of the nation.