Success Stories

HBL Bank Automates HR Funds Investments in an Integrated Environment with SidatHyder Solution for Investments Management iPaMs

In 2020, SidatHyder successfully implemented its solution for Investments Portfolio against Investments of five (5) HR Funds which includes Pension, Provident, Gratuity, Benevolent, and Clerical staff Funds. With this Solution, HBL Team can have an end-to-end Audit through the system in an integrated manner by reflecting Investments related figures to the EBS Core GL.

Pakistan Mortgage Refinance Company Ltd opted SidatHyder-Solution for Treasury

SidatHyder-Solution for Treasury caters to the needs of the Treasury in line with State Bank Regulation complying Risk and Compliance. SidatHyder Core ERP modules including SidatHyder-Financials, SidatHyder Suite for Human Capital, and Fixed Asset Management are also in place at PMRC to ensure an end-to-end Automated Environment.

PMRC is now also a player in Bond Issuance in the local market. Islamic and Conventional Bonds Issuance Management is also automated through SidatHyder-Treasury Solution Features.

With the three (3) years of successful Audits, this implementation is the true Success Story for Automation in the Financial Market.

HBL Asset Management Selects SidatHyder ERP for Mutual Funds while acquiring PICIC AMC

In 2016, when HBL AML acquires PICIC AMC, they selected SidatHyder ERP for Mutual Funds for Managing Conventional, Islamic, and VPS Fund's daily operations, settlements, and processing for timely calculation of NAV. They selected our solution based on the evaluation of existing ERPs in the market as per their requirement.

For the last 5 years, the end-to-end solution is successfully running at HBL AML across all their Funds as well as SMAs (Specially Managed Accounts) on SidatHyder ERP.

SidatHyder Solution for Investors Online Portal goes LIVE at Alfalah GHP

ADC Project awarded to SidatHyder Mutual Funds ERP team where we customized to deliver on the Digitalization Scope for Alfalah GHP to get an edge in the Asset Management Industry.

SidatHyder designed and developed an Online Investor Portal to enable AGHP investors to access their account statements from anywhere in the world. Also, they are allowed to perform Online Redemptions, Online Investments, and Online Conversions under all checks and validations through an Online shell.

Also, we extended this Online Portal to cover SSA Accounts [Sahulat Sarmaya Kari Accounts] under SECP Rules and Regulations.

This complete Online is Portal up and running for the last 2 years at AGHP for their Investors.

SidatHyder Solution for Pension, Provident & Gratuity funds opted by ABL Asset Management, Jubilee General & EFU Life

As part of the SidatHyder Solution Offering, we successfully implemented Pension, Provident, and Gratuity Funds in different entities in Financial Market. Also covering the Investments Cycle as part of the offering through SidatHyder Standard Solution for Investments Management.

A SidatHyder Solution for NAV Pricing goes LIVE at State Life Corporation of Pakistan

State Life Corporation implemented SidatHyder Solution for NAV for their Takaful Funds Daily Pricing. This is also an achievement in terms of daily automatic price calculation without any manual calculations.

Finja (Pvt) Limited

“Confidently shares appropriate information internally and externally”
Syed Touseef Hassan (Head of Accounts & Finance)

Finja(Pvt.) Limited is a new age and unique financial services digital platform for professionals, merchants, and SME businesses addressing their payments, collections, and credit needs. Being a friend of banks, financial institutions, and merchants, Finja holds a unique position in the value chain enabling all actors in the eco-system to interact digitally. Finja is currently rendering the following financial services through its state-of-the-art digital platform:

• Instant loaning, transfer funds, pay bills, top-up mobile balance for salaried professional
• Credit, digital payments, and order inventory facilities through apps for merchants
• Daily business operations tracking and stay on top of your payments for business owners

Before acquiring software applications, the Finance department was using Microsoft Excel for the record-keeping of financial transactions. This practice carried all the risks and limitations that are prevalent in manual record-keeping such as inaccuracy, errors, omissions, security compromises, and non-availability of analytical information.

To address the above issues, Finja was looking for a robust financial management system that can manage the financial accounting of its operations while implementing strong input and data processing as well as access controls over the financial transactions

Finja had explored various financial solutions offered by different service providers to find out the right solution before signing up for Sidat Hyder – Financials. SHMA implementation team with the immense support of Finja’s Finance department rolled out the deployment of application software and achieved the Go-live milestone in the shortest span of four months.

The successful deployment of SHMA Financial empowered Finja to manage its financial transactions with a breakup of profit/ cost centers to produce various analytical reports depicting business segment-wise analysis while fulfilling statutory requirements. Financial and management reports are now being produced using SHMA Excel Add-on– a user-defined reporting tool allowing the user to produce customized reports on their own. A structured chart of account and profit/cost center-wise transaction data enables Finja’s management to oversee business performance on daily basis and take appropriate action if required.

The system security and access control are being maintained on a principle of ‘Need to know basis safeguarding the confidentiality and secrecy of sensitive data.

Varioline Intercool (Pvt)

“Produces accurate and timely work with minimal supervision”
Syed Ali Raza (Manager Accounts & Taxation, Varioline)

Varioline Intercool offers a complete range of refrigeration solutions for the food and beverage industry globally. Apart from holding a leading position in the local market, Varioline has a strong presence around the globe catering need of offshore customers from South America, Africa, the Middle East, and Southeast Asia.

Having a diverse portfolio of products and services, Varionline is one of the leading brands in the industry and continues to grow in markets served as a result of highly efficient manufacturing capability and continuous focus on researching the latest environmentally friendly, energy-efficient components and developing attractive products designs.

Varioline was earlier using a Foxpro-based legacy software solution having a lot of duplication of efforts due to the absence of integration among the modules. Users had to key in information twice to post financial effects from the subsidiary module to General Ledger. The legacy software did not facilitate users to efficiently manage routine production tasks, material planning, managing inventories, financial accounting, etc.

Since Varioline was engaged in the fabrication and assembly of components of the refrigeration industry, therefore its management was looking for an enterprise resource planning solution that can automate its major operations including made-to-order, purchase to pay, and order to cash process while achieving operational excellence. Management also desired a solution that can be more adaptive to local regulatory and Tax requirements.

After careful and diligent scrutiny of local and international solutions, the Management of Varioline decided for signing up Sidat Hyder – ERP as an end-to-end solution to manage and streamline its supply chain, manufacturing, and financial operations. A dedicated team from Sidat Hyder teamed up with Varioline to implement the solution while managing different challenges encountered during the change management process. Besides all the teething issues and challenges, SHMA ERP has gone live within five months with the mutual effort of the project team representing team members from both sides.

Having a full-scale deployment of Sidat Hyder ERP, Varioline’s management is now in a position to deliver products and services to its customers on time as production planning backed by supply chain management reduces the risk of material shortage and manages bottlenecks at the time of manufacturing. Varioline has better control over financial management thereby enabling the stakeholders to produce financial and analytical reports for decision making.

Vantage printers:

“Demonstrates and encourages excellence in results”
Amir Nawaz (CFO Vantage)

Vantage is one of the largest privately-owned printing companies in Pakistan offering services not only in Pakistan but for Asia, Europe, and America as well. Vantage works principally in three areas, corporate, commercial, and packaging. Vantage print facility is well equipped with state of art technologies to keep pace with innovation and everchanging market demands.

In past, Vantage was using a combination of legacy accounting software and MS Excel as a primary tool to manage its day-to-day business operations. The legacy software was not able to keep pace with the growing needs of the business and put more reliance on manual controls over business-critical data. Users had to collect data from different sources to prepare management reports necessary for decision-making.

Vantage carefully analyzed our proposed solution to their pain areas and decided to go for Sidat Hyder ERP. Our team of professionals embarked upon the implementation of various modules according to the priority set out by the project sponsors. With the passionate support from Vantage, our implementation team managed to complete the deployment phase in just four months and the user started live data processing without any major hiccups. Our support team did handholding to end-user to overcome any obstacles encountered during the live operations.

Vantage successfully managed to automate its financial accounting, purchase to pay, and payroll functions. The management of the relevant department is now capable to produce profitability for each job order by effectively maintaining cost center-wise accounting. Generation of Tax Returns and other statutory reporting to regulators became a matter of click. The supply chain management department is in a better position to optimize its stock levels according to the production requirements.

Successful ‘Go Live’ of Sidat Hyder Financials, SCM, and Real Estate Management System REMS at BRB Builders & Developers

“With the support of iST team, we were able to ensure swift implementation of SHerp and Real-estate Management System by automating, optimizing and aligning the existing payment schedules & inventory management at the construction site with Industry best practices and providing centralized control to the key stakeholders”, said a BRB spokesperson.

SHerp powers BRB Builders & Developer's Real Estate-Procurement-Inventory-Financials transformation journey with iST.

BRB is on a mission to set a standard in private residential construction with ground-breaking urban designs, they have chosen Sidat Hyder ERP - SHerp to transform their real estate and inventory processes electronically.

iST implemented the Sidat Hyder ERP at BRB which includes Real Estate, Financials, Inventory, and Procurement modules with go-live just in 4 months. The new modules will help the company effectively manage their stocks, receivables with proper payment schedules, payables with proper aging, and prepare financial statements electronically with limited efforts.

Pearl Fabrics Company (PFC)

Pearl fabrics Company (PFC), est. in 1968, is the pioneer of the towel industry in Pakistan; has gone 'Live' in 2018 with Sidat Hyder SHerp Application. The company started producing cotton terry towels on Northrop (British) towel looms. Over the last 47 years, the company has grown by leaps and bounds concerning the production capacity, quality, and growth in sales. The SHerp Application and our consultants helped them in achieving more outcomes with less input and in getting the desired auto-generated reports based on the input to the Sidat Hyder – SHerp Application.

Childlife Foundation

ChildLife Foundation, a PCP-certified non-profit organization - established in 2010, provides children emergency services in 32 Emergency Rooms and Satellite Centers at government hospitals across 29 cities. They are currently providing the following services;

• Preventive Care
• Primary Care
• Emergency Care

iST Corporate Performance Consultants successfully implemented Sidat Hyder Suite of Applications for their end-to-end operations in 2020. The modules of SHerp include Financials, Supply Chain Management, Payroll, Human Capital Management, and Donor Database Management.

After having successful implementation, ChildLife Foundation has integrated all its operations through SHerp and has achieved the following milestones:

• Business process improvement
• Effective demand forecasting especially for lifesaving medicines
• Automation of manual or routine tasks
• Brings legitimacy and transparency to each bit of transactional data
• Supports senior management with better decision making

Plastech Autosafe Pvt limited

Plastech Autosafe Pvt limited is one of the key manufacturers and assemblers of automotive safety systems, automotive interior parts, disposable tableware, and injection molded bottle caps in Pakistan. Established in 1994, the company needed a solution to consolidate and centralize its supply chain operations. Plastech Autosafe picked iST Corporate Performance Consultants Pvt. Limited for the implementation of Sidat Hyder suite of applications (SHerp) to replace its legacy system. The SHerp was introduced to making an efficient decision, eliminating manual processes, and more.

Before the introduction of ERP, A few issues faced by the Plastech Autosafe team include:

• Technical issues support from legacy system provider.
• Reporting obstacles at the different level
• A disengaged workforce
• Decision-making difficulties

The project was spread out into two different phases i.e., Supply chain management along with the financial module integration and manufacturing. In the year 2020, iST Corporate Performance Consultants Pvt. Limited completed the implementation of the SHerp and snared in another milestone. Plastech Autosafe was able to achieve the following benefits with SHerp:

• Better Technical and system support.
• One window supply chain and financial operation.
• Cost-effective business operation
• Centralized access and control
• Better decision making