Meristem Securities Limited and its subsidiary companies, The Meristem Group, a Nigerian non-banking financial services conglomerate has installed Microsoft Azure, the first Azure in Open Licensing implementation in Nigeria; along with Microsoft Dynamics NAV and Microsoft Azure SQL Database to allow them move their data onto the cloud.
This move has allowed them to save considerably on cost, provide better service to their clients, and work remotely.
Prior to implementing Microsoft’s solution, Meristem had been using locally built, custom software which had some hiccups in day-to-day operations, and required users to be on premise in order to access data.
Also, due to constant power cuts, the company had to constantly run a power-generating set, significantly increasing the costs of doing business.
According to Sulaiman Adedokun, group deputy managing director, “Moving business operations and data storage fully to the cloud stands as the best development in our organisation as regard IT management, minding the nature of our business as investment managers, servicing clients and partners from all over the world.
“Prior this time, all of our infrastructure was on premise and that made it very difficult to operate with the desired level of efficiency, thus, informing our decision to implement Microsoft Azure and Azure SQL. As thought, we have seen that cloud access is paramount.”
“Moreover, we have 5 subsidiary companies. A number of our employees are not only located at different locations within Lagos, but also across other parts of the country. People need to access information, data, etc real-time to serve our clients and they cannot shuttling between the Headquarters and other locations in quick successions.”
While attesting to the benefits of implementing Microsoft’s solutions, Adedokun stated that “the Company’s policy is to operate on the cloud. Everything we want to do, we can do straight from the cloud. This Microsoft solution has enhanced our service-delivery capacity to provide more satisfying services to our clients; and we believe that there are many other Microsoft products we can leverage on now that we are on the cloud to grow our company.”
Also, Ademola Akinbade, managing director and CEO of Lotus Beta Analytics, Microsoft’s implementing partner, explained that Meristem wanted standardized, world-class software with a proven track record of reliability and sustainability.
He said another motivation for upgrading to Microsoft Azure and Azure SQL was that Meristem wanted to implement Microsoft Dynamics NAV, to put an ERP in place that would assist them in managing their business a bit more effectively.
According to him, Meristem had recently deployed Microsoft Office, and they had been “enjoying the quality of service from Microsoft,” and consequently Azure and Azure SQL were better options both in terms of cost and service provision.
Speaking further, Adedokun, said “about 133 of the Meristem workforce are now on the new solution. As for Dynamics NAV, we have about 30 people on it and we are working towards growing it further.”
Akinbade said recent deployment of Office 365 yielded positive results and has made Microsoft solution an easy fit, adding that Lotus and Microsoft are currently working with the Meristem’s IT team to look out how best to move other local applications to the cloud, starting with the Simplex Application, as well as optimizing the use of Microsoft OneDrive.
Benefits of implementing Microsoft’s solution by Meristem includes better service provision to clients, which was her main priority in deploying Microsoft Azure, constant access to e-mail, constant access to data and financials, even remotely.
Other benefits to the company also includes bridging the gap between Meristem and its customers, significant cost reduction: initial savings of at least 40% on 20 million naira start-up cost, high service quality, reliable and sustainable business solution.
Meristem Securities Limited is a Nigerian-based financial services conglomerate. With its robust online platform, the company which has been in operation since 1994 is a stickler for providing bespoke financial services in Stockbrokerage, Investment Banking, Asset and Wealth Management, Registrars and Trustee functions.
Meristem Securities Limited is a leader in providing financial services in the Nigerian region and internationally.