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


Two Oceans Marketing simplifies a complex stock environment with Sage X3 and Sage Inventory Advisor

Two Oceans Marketing has implemented the Sage X3 and Sage Inventory Advisor from Sage Enterprise (Previously Sage ERP Africa) to streamline stock management.  Read More

Riding the wave of West Africa’s digital economy

Companies in Nigeria and the rest of the region who do not embrace the digital world will be at a serious disadvantage to their competitors, says Sage. Read More

Technology driver of other sectors, says Asseco chief

Nigeria’s former Minister of Foreign Affairs, Odein Ajumogobia, has advised businesses wishing to optimise resources and increase production to embrace technology, adding that it is the force that sits at driving seat of economic development. Read More

Uganda’s Infinity Computers awards services, cloud deal to IBM

Leading Ugandan IT services provider Infinity Computers has chosen IBM to deliver cloud, analytics and IT services to support a wide range of new web and mobile offerings for its clients.  Read More

Red Hat Brings Open Source curriculum to EMEA students

Red Hat Academy, an open source education programme, is now available to universities with the required technology and support environments in the Europe, Middle East & Africa (EMEA) region. Read More

Luba Freeport streamlines its sea of paper with Sage X3

Luba Freeport has implemented the Finance and Distribution modules of the Sage X3 business management solution to automate its business processes across finance and operations.  Read More

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


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


eCommerce in Africa urged to take advantage of mobile eCommerce in Africa urged to take advantage of mobile

The Executive Chairman of Alltel has urged operators of eCommerce in Ghana and Africa as a whole to take advantage of the current trend for Africans to trade online via their mobile handsets. 


Nigeria needs $25b investment in broadband, says WoodNigeria needs $25b investment in broadband, says Wood

Telecoms executive Adrian Wood speaks to Kokumo Goodie about investment potential in Nigeria.