Rapid Technologies announced today that it has acquired 100% of Enigma Business Solutions.
Enigma Business Solutions is an independent South African company that has developed its own solutions for the insurance industry based on its experience of working within the industry for many years.
The solutions are mature, having been implemented for years in South African insurance and benefit broking companies. Research and development is ongoing with customers and the industry, who determine the future direction of the systems.
The flagship solution, Xelence, a funeral benefit fund management system, currently manages and administers some of the largest benefit funds in South Africa.
"The Xcellence Funeral Fund administration solution has been in production for over eight years," says Shameel Ebrahim, who came from Enigma Business Solutions and now heads up the Software Solutions division for Rapid. "This solution is mature and stable; probably one of the most comprehensive offerings in the market."
This is a scalable solution and the smaller fund managers use the Xcellence solution as start up, as do the renowned larger funds in South Africa. This is a "pay-as-you-grow" solution geared to growing the system as the fund grows without the initial capital outlay.
Enigma has a further offering. R.I.P is a comprehensive solution that allows for ease of management and inventory for funeral homes and Funxion is a management system that addresses the inventory and auditing for events.
Rapid Technologies Sales and Marketing Director, Sandy Phillips, said the acquisition of Enigma Business Solutions, a software solutions company, was strategic as it comes at a time when demand is high and mature solutions in this sector are in short supply. Rapid Technologies has always been in a focused market sector, "it made sense to expand into the software solutions market with another successfully focused solution".
"The Xcellence solution concentrates in this niche environment; the objective is to meet and overcome the challenges, allowing this sector to reach its full potential," she said.
Rapid Technologies' core focus is to improve the capabilities of the organisations we work with. Rapid has been delivering the Riverbed Technology to the South Africa market for over three years and is recognised as one of the leaders in the market. Riverbed is the world's leading WAN optimisation technology and Rapid has seen considerable success with this technology.
Rapid Technology is wholly owned by women and PDI individuals.
Contact regarding the press release jenna.opie@rapidtech.co.za or 0861BINARY
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