Kenyan SMEs to Benefit from New Web-Based Accounting Services

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Kenyan Small & Medium Enterprises (SMEs) are yet to benefit from web-based accounting services to be offered by a UK accounting software firm, Sage.

The company, which is targeting a total of 1,500 SMEs in the country will be able to allow business owners to remotely work on their invoices and tax returns and also be able to assess how their businesses perform in real time, either at home or in the office.

According to Anton van Heerden, the managing director and executive vice-president of Africa and Middle East of the firm, their vision is to empower entrepreneurs and business owners to spend less time on administration and more time on what they love doing.

Heerden said that Sage software accounting products are simple, secure and low cost way to managing finances using an online system.

Regional director East Africa Nikii Summers said the software’s targets the large number of small firms that have the potential to scale up, but are held back by accounting decisions.

Ms. Summers said the firm plans to launch Sage One payroll product, which has capabilities to process payrolls online by end of March.

“We want to enable small businesses effectively deal with statutory remittances like the National Social Security Fund (NSSF) and the National Health Insurance Fund (NHIF) with ease and free them up to core business of running their firms,” she said.

The cloud-based solution, according to Ms. Summers, integrates with the firm’s entry level Sage One accounting product. She noted that with the new software, companies will be able to conveniently manage everything from sales and purchasing to cash flow and taxes,

Ms. Summers said that the software it offers online invoicing and allows collaboration with the book keeping or accounting team from anywhere adding that lack of financial literacy had dealt a blow to the life of many Kenyan small businesses hampering scaling up.

Related: Five Key Tips When Starting a Business with Limited Capital

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Vera Shawiza

Vera Shawiza is Soko Directory’s in-house journalist. Her zealous nature ensures that sufficient and relevant content is generated for the Soko Directory website and sourcing information from clients is easy as smooth sailing. Vera can be reached at: (020) 528 0222 or Email: info@ye42a.hosts.cx