Software slows Kenyan company reporting


Image: Gurhan Kalelioglu. By Oracle
Gurhan Kalelioglu

Kenya companies are lagging behind in their investment into systems intended to improve consolidation and financial reporting processes.

An online survey which was carried out among 82 companies by Oracle Corporation shows that 51.2% of these companies miss reporting deadlines due to over-reliance on spreadsheets.

“The report suggests that a lack of investment in consolidation software in particular and financial software in general results into ineffectual financial reporting and missed key deadlines,” said Oracle Regional Director for Turkey, Central Asia, West and East Africa Gurhan Kalelioglu.

The research also revealed that 23% of companies had invested in financial software in 2012, 35.36% in the past three years, and 41.46% more than three years ago.

“Kenya is a vibrant market with many companies growing steadily. Their financial software should be up to date if they are to produce reports to the satisfaction of shareholders and other stakeholders, as well as comply with global standards,” added Kalelioglu.

“With businesses still looking to invest, our advice is clear. Take the time to find a truly effective solution that can address data integrity issues and optimize processes. By doing so, finance organizations can be more efficient, while accuracy can improve and reports are more likely to be completed on time,” he added.

Share the News

Get Daily Newsletter

comments powered by Disqus


Microsoft releases Office 2016

On Tuesday, Microsoft Corp. began the worldwide release of Office 2016.  Read More

Harley’s accelerates its business processes with Sage X3

Harley’s Limited, a Kenyan company that imports and distributes medical equipment and pharmaceuticals into the East African market, has streamlined its business processes and improved agility by rolling out the Sage X3 applications suite.  Read More

Global Study finds DevOps a key contributor to bottom line

CA Southern Africa has revealed details of a recent study which shows that having a DevOps strategy helps drive tangible business benefits to enterprises. Read More

Enterprise app stores the cornerstone of enterprise mobility

Ultimately, an enterprise app store is the future of enterprise mobility, says In2IT Technologies South Africa. Read More

Embracing open source in Africa

The digital world has moved beyond a proprietary approach, says SUSE.   Read More

Keys to building an Open Source technology practice in MEA

Building an open source practice requires a different business model, skill set and sales approach, says Red Hat. Read More

Barclays launches Digital Academy initiative

Barclays Africa Group, in partnership with The Digital Academy, has launched the Barclays unit of The Digital Academy in South Africa. Read More

Microsoft unveils windows 10 in Kenya

The much-awaited Windows 10 operating system by giant technology firm Microsoft was officially unveiled in Nairobi on Wednesday. Read More

Microsoft reveals Windows 10 launch plans

Microsoft has shared details for the rollout of Windows 10, starting on July 29, which includes a new Upgrade Your World initiative to celebrate people and organizations making a difference around the world. Read More

Signal Alliance, Microsoft take cloud solutions to MAN

Signal Alliance in conjunction with Microsoft recently organized a forum with Manufacturers Association of Nigeria (MAN) to showcase solutions that will drive productivity, meet operating objectives and enhance business continuity in manufacturing companies. Read More


Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika


Innovative designer takes e-waste to another levelInnovative designer takes e-waste to another level

Gladys Muyenzelwa is a Gaborone based artist and designer who has an eye for ethnic and contemporary design. But unlike other designers, Muyenzelwa has found a way of using e-waste to make her creations. 


High tech homes: Just press playHigh tech homes: Just press play

High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.