Kenyan fintech startup Odibooks has launched a management and accounting platform that SMEs can use to automate their processes.
Odibook was founded by Maxwell Odira and Erick Odudo and started operations in February. Its core business is providing enterprises across the East African region with a web-based platform to help with aspects such as quotation, order and invoice management, inventory management and financial reports.
In addition, the platform provides businesses with an automated invoices and payments system which is integrated with their existing M-Pesa till number, paybill number or their bank account. This interoperability makes payment processing easier for both entities.
The holistic financial management tool is a timely solution for SMEs as organizations seek ways to keep operations in control amid tough economic tides.
“SMEs also have automated bills and expenses payments using M-Pesa if their suppliers accept bank payments to banks in Kenya or Paybill numbers or Till numbers,” Odira said. “Odibooks automates tax management and provides ready to upload Excel tax reports for filing. SMEs also have an option to set automated reminders whenever item inventory reaches a certain value for easier restocking.”
The self-funded startup has already onboarded several clients and is actively looking for investors to help raise its first round of funding. The company has its headquarters in Kenya and plans to expand to Rwanda, Uganda and Tanzania in the coming months.
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