In their crucial role in building the spine of many economies globally, SMEs often encounter significant challenges that impede their growth potential. These pain points include difficulties in tracking transactions, managing expenses, complying with tax regulations, and maintaining transparency in financial operations.
At Churpy, our mission has always been to bring automation and digitization into the office of the CFO. We believe in fusing technology and finance to streamline financial operations without requiring extensive technical expertise. Today, we are excited to delve into the SME space with our revolutionary system, Akountable ERP. Designed to enhance accountability and transparency in financial transactions, Akountable is now seamlessly integrating with the Electronic Transaction Information Management System (eTIMS) by KRA tax authority, providing SMEs with a comprehensive solution for accounting, invoicing, spend management, tax automation, and more.
Pain Points Faced by SMEs
1. Transaction Tracking:
Efficiently managing and tracking transactions remains a significant challenge for many SMEs. Inaccurate or delayed tracking can lead to financial discrepancies and hinder strategic decision-making.
2. Expense Management:
SMEs often struggle with recording and categorizing expenses, which impacts financial visibility and planning. Without proper expense management, businesses cannot generate insightful reports necessary for strategic growth.
3. Tax Compliance:
Navigating complex tax regulations and ensuring compliance is a daunting task for SMEs. Manual processes increase the risk of errors and penalties, creating an additional burden on the business.
4. Data Security:
Safeguarding sensitive financial information is critical. SMEs need robust security measures to protect their data from breaches and ensure compliance with data protection laws.
Akountable ERP: Tailored Solutions for SMEs
Recognizing these challenges, Akountable ERP by Churpy emerges as a tailored solution to address the unique requirements of SMEs. Our platform offers user-friendly and simple tools, accessible via a mobile app and/or a progressive web app (PWA) channel, to streamline financial operations and drive growth.
Key Features of Akountable ERP:
1. Invoicing, Reconciliation, and Payment Tracking:
- Create professional invoices and track payments and receivables effortlessly.
- Receive real-time notifications on payment statuses.
- Reconcile all bank transactions automatically, ensuring accountability and transparency.
2. Expense Management:
- Record and categorize expenses for better financial visibility.
- Generate insightful expense reports for strategic decision-making.
- Financial planning and budgeting connected to your bank and MoMo for individual or bulk payments.
3. Financial Reporting:
- Access detailed financial reports to monitor the overall health of the business.
- Make data-driven decisions based on accurate financial insights.
4. User-Based Management:
- Maintain a comprehensive audit trail of user activities within the system.
- Assign specific tasks and permissions to each role for streamlined workflow and controlled access to sensitive financial data.
Integration with eTIMS
To enhance compliance and provide a more holistic solution, Akountable ERP integrates seamlessly with eTIMS. This integration aims to automate various taxation processes, reduce manual effort, minimize errors, and ensure accuracy in tax calculations and compliance.
Empowering SMEs for Success
At Churpy, we are committed to empowering SMEs with Akountable ERP, helping them achieve financial efficiency, compliance, and growth. By integrating seamlessly with eTIMS and offering a range of features designed specifically for SMEs, Akountable emerges as a key enabler for SMEs to thrive in today's competitive and dynamic business environment.
Join us in transforming the financial landscape for SMEs. Let's automate, innovate, and grow together!