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By Omotunde Alawode
In the fast-paced landscape of modern business, where every decision can make or mar success, one company has emerged as a beacon of innovation—BuySimply.
Founded by the visionary entrepreneur, Folu Dele-Ijagbulu, BuySimply represents a paradigm shift in the way businesses manage their expenses. What started as a simple idea sparked by candid conversations with friends across diverse industries has blossomed into a game-changing solution tailored for medium-sized enterprises, particularly in the corporate and retail sectors.
In an exclusive interview, Mr. Dele-Ijagbulu shared the inspiring story behind BuySimply’s inception. He recounted how several friends, running businesses of their own, confided in him about the frustrations they faced with traditional expense management. These conversations highlighted a widespread need for real-time insights into business expenses—an issue that transcended industry boundaries. Motivated by this collective pain point, Mr. Dele-Ijagbulu and his team at BuySimply embarked on a mission to develop a cost-effective solution that would address this burning need.
“At BuySimply, we automate your payment voucher process,” explained Dele-Ijagbulu. He painted a vivid picture of the challenges faced with manual processes—papers getting lost, managers drowning in paperwork, and accountants grappling with the chaos during audits. BuySimply’s vision is clear: to make lives better by simplifying finance processes for medium-sized businesses, offering a tailored solution that streamlines operations and enhances efficiency.
But how did an engineer transition from working at Exxon to pioneering finance automation? Dele-Ijagbulu’s passion for technology and business optimization shines through as he shares his journey. Starting with technology training in the Imo State Poverty Alleviation programme in 2004, followed by stints at KPMG in IT Audit, his path eventually led him to ExxonMobil as an engineer. His decision to focus on supply chain management at Exxon was driven by a unique blend of engineering expertise and a keen interest in business processes. This background laid the foundation for his seamless transition into entrepreneurship with BuySimply, where he continues to combine his love for technology with his experiences in procurement and enterprise risk management.
Delving deeper into his passion for business, Dele-Ijagbulu articulated a compelling vision for societal change. Drawing attention to the correlation between poverty rates and the high volume of out-of-school children in Nigeria, he emphasized the pivotal role of businesses in driving positive impact.
“Imagine if businesses were well-run, profitable, and equipped with efficient financial management processes,” he mused. This vision underscores BuySimply’s larger mission—to empower businesses with the tools they need to thrive, thereby supporting economic stability and social welfare.
Reflecting on the demise of once-famous brands in Nigeria, Dele-Ijagbulu highlighted the importance of business resilience and cost clarity. Businesses that survive, he noted, possess a deep understanding of their cost structures, enabling them to adapt swiftly in volatile environments. Using a poignant analogy, he likened the necessity of financial clarity to driving a car with a clear windshield—essential for safe navigation through challenges.
“So, where does BuySimply fit into this narrative?” Dele-Ijagbulu’s response was illuminating. He revealed that most company managers remain unaware of their monthly expenditures until weeks into the next month—a common struggle acknowledged by accountants everywhere. BuySimply, however, provides real-time expense insights, enabling managers to make informed decisions and comparisons effortlessly. He recounted an anecdote where a manager, just a week after signing up with BuySimply, was astonished by the amount of expenditures she had approved. The power of these insights, Dele-Ijagbulu emphasized, cannot be understated.
But how does BuySimply achieve this feat? He attributed their success to a blend of old and new technologies, continually expanding into the realm of AI to deliver powerful insights for business owners and managers. “We’re democratizing access to advanced financial tools,” he declared. By making these tools accessible to organizations of all sizes, BuySimply aims to empower businesses on their journey to success.
Mr. Dele-Ijagbulu further shed light on the affordability of BuySimply’s offerings. He emphasized a flexible payment model—offering the first month free for businesses to evaluate the platform’s value. Whether opting for pay-as-you-use or subscription-based plans, BuySimply ensures that organizations are not only equipped with cutting-edge technology but also supported in their growth and sustainability efforts.
Dele-Ijagbulu’s passion for enabling businesses to thrive was palpable throughout our discussion. He stressed the human element behind every organization—the employees, families, and communities that depend on their success. “If we don’t provide tools for these organizations to thrive, who will?” he queried passionately.
Dele-Ijagbulu shared intriguing insights gleaned from his entrepreneurial journey. He marveled at how building a product for one purpose often serves unexpected needs—like reducing marital friction within co-owned businesses by bringing financial transparency. Humorously referencing Sustainable Development Goal 100 (promoting happy marriages), he highlighted the profound societal impact of BuySimply’s mission-driven approach.
In summary, Dele-Ijagbulu’s entrepreneurial journey epitomizes the transformative power of innovation in business finance. Through BuySimply, he not only addresses critical pain points in expense management but also champions a broader vision of societal change. As businesses continue to navigate complex challenges, BuySimply stands as a testament to the enduring impact of technology-driven solutions in shaping a brighter future for enterprises and communities alike.
