FIQAS is rapidly implementing Abillity® as the system backbone for managed services across various entities of OLX.
After a swift implementation, Abillity® is now operational for OLX India, becoming the first OLX entity to utilize the new Abillity® front-end for accounts receivable processes.
India, with its population of approximately 1.3 billion, stands as the prime growth market for OLX. The anticipation is that OLX India’s market penetration will significantly increase in the coming years. This will result in a high volume of transactions, which FIQAS will process in real-time within Abillity®.
OLX India becomes the inaugural OLX entity to adopt the new Abillity® front-end. This tailored version of the Abillity® user interface for OLX provides specific functionalities for manual invoice entry for non-standard products (such as banners), credit invoicing, payment reconciliation, and report generation.
The distinctive aspect of the implementation for OLX India lies in the complex and distinct financial regulations concerning VAT remittance (‘GST on advance receipt’). The flexible Abillity® software, with minor adjustments, can accommodate these challenges.