Zoho, a global technology company, has announced that its finance and operations suite has achieved 42% growth in revenue in Kenya in 2023. The company also announced the addition of key product capabilities in its VAT-compliant accounting solution Zoho Books, inventory management solution Zoho Inventory, and practice management app for accountants Zoho Practice. The newly-launched capabilities aim to help businesses and accountants enhance operational efficiency, simplify routine financial tasks, ensure regulatory compliance, and streamline internal processes.
“More and more Kenyan businesses are adopting Zoho’s finance and operations suite to streamline their financial management,” said Veerakumar Natarajan, Country Head, Zoho Kenya. “There is a significant shift towards adopting cloud-based tools that enhance accuracy, compliance, and decision-making. At Zoho, we’re committed to empowering Kenyan businesses with technology that simplifies accounting processes and supports sustained growth.”
“We launched the Kenya edition of our finance and operations suite in 2022 with the aim to empower businesses to optimise their financial operations,” said Prashant Ganti, Head of Product Management, Finance and Operations BU, Zoho. “Today, with our latest set of updates, we aim to simplify key financial and operational processes for businesses and accounting firms, reducing complexities, enabling our customers to scale their business with confidence. More importantly, we enable them to stay compliant with the latest regulations, helping them future-proof their business and stay ahead in a rapidly evolving market.”
For businesses:
Zoho Books, a VAT-compliant accounting software, and KRA approved eTIMs integrator software, now includes fixed asset management, which allows recording of asset details, automatically calculate depreciation based on specified percentage, method, and period, and generates depreciation forecast reports.
With Zoho Books, businesses can push error-free invoices to the eTIMS portal with one click. Once validated, these invoices are automatically updated in Zoho Books with a QR code along with other reference details, which businesses can send to customers. Additionally, the VAT Returns Form-3 report will be updated based on the eTIMS invoices raised. Any updates mandated by the KRA will be supported by Zoho Books, helping Kenyan businesses easily manage their tax obligations, reducing the manual effort involved in staying compliant.
Zoho Inventory has introduced advanced warehouse management capabilities such as enhanced location tracking and labelling, stock counting, stock out alerts, and role-based access to manage the warehouse operations. These newly-launched capabilities offer better inventory control, ensure accurate stock levels, and provide faster order processing. Additionally, the solution now supports the moving average inventory valuation method, helping businesses calculate the total asset value of products that have fluctuating prices. The product’s mobile apps empower warehouse employees to perform their tasks on the go, improving productivity.
For accountants:
Zoho Practice, a practice management application for accounting firms, has introduced Workpapers to simplify audit and compliance workflows. It allows firms to fetch financial statements of the clients who use Zoho Books, enabling easy comparison, adjustments, document management, and collaboration for reviews and approvals. The new self-service portal enables accountants to collaborate with clients that use third-party accounting software, facilitating document requests, digital signatures, and communication.
The latest version of Zoho Practice also enables accountants to easily create and manage ledgers for clients who don’t have a full accounting system, maintaining a single source of truth. Furthermore, advanced capabilities like workflow automation, custom functions, and scheduling options help customise operational workflows.
Pricing and Availability:
All the features added to Zoho Books, Zoho Inventory, Zoho Practice are available for immediate use.
With over 55 apps in nearly every major business category, from customer experience and employee experience to enterprise collaboration, custom solutions, and business intelligence, Zoho is one of the world’s most prolific technology companies. Headquartered in Chennai, India, Zoho is privately held and profitable with more than 15,000 employees. Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. The company owns and operates its data centers, ensuring complete oversight of customer data, privacy, and security. More than 100 million users around the world, across hundreds of thousands of companies, rely on Zoho everyday to run their businesses, including Zoho itself.
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