Our mission at Churpy has always been around bringing automation and digitisation into the office of the CFO by fusing tech and finance without the need to be a techy or requiring considerable tech personnel to actualize next level CFO functions. Today, we are delving into the SME space. However, key to note is that we are still super focused on our mission.
The Significance of SMEs in the global business landscape
In the dynamic landscape of business, Small and Medium Enterprises (SMEs) play a crucial role in driving economic growth. However, managing and tracking transactions efficiently remains a challenge for many SMEs. Enter Akountable by Churpy, a revolutionary SME-oriented system designed to enhance accountability and transparency in financial transactions. To elevate its capabilities, Akountable is now seamlessly integrating with the Electronic Transaction Information Management System (eTIMS), providing SMEs with a comprehensive solution on accounting, invoicing, spend management, tax automation and so on.
SMEs form the backbone of many economies, contributing significantly to job creation, innovation, and overall economic development. Despite their importance, these enterprises regularly face challenges in adopting sophisticated financial management systems, leading to difficulties in tracking and managing transactions effectively. Recognizing this need, Akountable by Churpy emerges as a tailored solution to address the unique requirements of SMEs with an easy platform to streamline their financial operations.
Key Features of Akountable:
1. Invoicing, reconciliation and Payment Tracking:
- Create professional invoices and track payments and receivables effortlessly.
- Receive real-time notifications on payment statuses.
- Reconcile all your bank transactions automatically.
- Track changes, ensuring accountability and transparency in financial processes.
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, MoMo for individual or bulk payments.
3. Financial Reporting:
- Access detailed financial reports to monitor the overall health of the business with ratio analysis making debt origination a reality.
- 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 thereby control access to sensitive financial data by setting permissions for each user.
- Allows for maker-checker functionality for various critical tasks such as processing outgoing payments.
Integration with eTIMS:
Recognizing the need for a more holistic solution, Akountable is now integrating seamlessly with eTIMS, which is the Electronic Tax Information Management System by KRA tax authority. This integration aims to enhance compliance with KRA tax laws.
Why is Akountable great for an SME?
1. Real-time Transaction Monitoring:
- Track transactions in real-time, allowing for immediate decision-making.
- Identify potential discrepancies or irregularities promptly.
2. Automated Data Synchronization:
- Ensure that financial data is consistently updated across all payment platforms.
- Minimize the risk of errors associated with manual data entry.
3. Enhanced Security Measures:
- Benefit from the advanced security features thereby safeguarding sensitive financial information. in line with data protection laws in Kenya and globally.
4. Scalability and Adaptability:
- Scale operations seamlessly as the business grows.
- Adapt to changing regulatory requirements with ease.
Akountable's commitment is in empowering SMEs with the very user-friendly and simple tools, via a mobile app and/or a progressive web app (PWA) channel, to thrive in today's competitive and dynamic business environment.
We are looking forward to your feedback through sales@churpy.co .