Zoho, a global leader in technology solutions, has announced remarkable success in Kenya, reporting a 42% growth in revenue from its finance and operations suite for 2023. The company also unveiled several feature upgrades across its key financial products: Zoho Books, Zoho Inventory, and Zoho Practice. These enhancements are designed to improve efficiency, simplify financial processes, and support compliance for businesses and accountants in Kenya.
“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.”
Zoho introduced the Kenya edition of its finance and operations suite in 2022, catering to the growing demand for digital solutions in financial management. The company’s updated tools address regulatory compliance, operational efficiency, and business scalability.
New Features for Businesses
- Zoho Books
- VAT Compliance and KRA Integration: The platform now supports fixed asset management, enabling users to record asset details, calculate depreciation automatically, and generate forecast reports.
- eTIMS Integration: Businesses can push error-free invoices to the eTIMS portal with one click, which are then validated and updated in Zoho Books with QR codes. The system also updates VAT Return Form-3 reports automatically, ensuring compliance with Kenya Revenue Authority (KRA) regulations.
- Customizable Reports: Updates mandated by the KRA will be seamlessly supported, reducing manual compliance efforts.
- Zoho Inventory
- Advanced Warehouse Management: Enhanced capabilities like location tracking, stock counting, stock-out alerts, and role-based access improve inventory control and order processing.
- Moving Average Valuation Method: Businesses with fluctuating product prices can calculate asset value more effectively.
- Mobile App Empowerment: Warehouse employees can manage tasks on the go, enhancing productivity and accuracy.
New Features for Accountants
- Zoho Practice
- Workpapers for Audits: Enables seamless comparison and adjustments of client financial statements fetched from Zoho Books. The tool simplifies document management, review processes, and compliance workflows.
- Self-Service Portals: Facilitates collaboration with clients using third-party accounting software, allowing document sharing, digital signatures, and communication.
- Customizable Operational Workflows: Features like workflow automation, custom functions, and scheduling options provide a tailored experience for accounting firms.
- Ledger Management: Accountants can now create and maintain ledgers for clients without a comprehensive accounting system, ensuring a centralized source of financial truth.
According to Prashant Ganti, Head of Product Management, Finance and Operations at Zoho, the company’s updates aim to simplify operational complexities and foster business confidence.
“With our latest updates, we aim to simplify key financial and operational processes for businesses and accounting firms, reducing complexities and enabling our customers to scale their business with confidence. More importantly, we help them stay compliant with the latest regulations, future-proofing their operations in an evolving market.”
The enhanced features for Zoho Books, Zoho Inventory, and Zoho Practice are available immediately. Businesses can visit the official product pages for more details on pricing and subscription plans.
Zoho’s focus on innovation and compliance continues to resonate with Kenyan businesses, evidenced by its impressive revenue growth. By empowering organizations with cutting-edge tools, the company is shaping the future of financial management in Kenya, making operations simpler, scalable, and regulation-ready.
