An accounting tool that enables SMEs to automate and manage all of their corporate financial procedures has been released by the Kenyan fintech firm Odibooks.
Odibooks, a web-based accounting platform for SMEs in East Africa, was introduced in February by Maxwel Odira and Erick Odudo. It assists companies with tasks including quote, order and invoice administration, inventory management, and financial reports.
Businesses do not need to register for M-Pesa API access from Safaricom since The Odibooks offers clients automatic invoicing and payments from their customers using simply their current M-Pesa Till Number, M-Pesa Paybill number, or their bank account.
“SMEs also have automated bills and expenses payments using M-Pesa if their suppliers accept bank payments to banks in Kenya or Paybill numbers or till numbers,” Odira said. “Odibooks automates tax management and provides ready to upload Excel tax reports for filing. SMEs also have an option to set automated reminders whenever item inventory reaches a certain value for easier restocking.”
After onboarding hundreds of companies, the self-funded firm is aggressively seeking to obtain its first round of capital to grow its operations. It is already operational in Kenya, and within a year, debuts are anticipated in Rwanda, Uganda, and Tanzania.
