Many businesses today experience stagnation due to the failure to keep accurate and trustworthy financial accounts. These businesses are unable to keep track of data that can enable them manage their organisations properly owing to a lack of knowledge of financial accounting and the inability to utilise complex accounting tools.
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Accounteer is an online accounting software that was set up to enable small business owners manage their finances efficiently. It provides SMEs with a platform where they can create invoices, track expenses, register payments and do so much more.
Accounteer was founded by Merijn Campsteyn, an enterprising individual with a passion to help businesses in Africa reach their full potential. Through the experience of running his own business and seeing the difficulty of keeping up with the accounting process, he set out to create an accounting software that would be created with the average entrepreneur in mind. He designed the software to be easy to use and accessible to just about any business owner.
Within three years of its launch, Accounteer participated in the Ventures Platform acceleration program. This enabled it reach a larger audience and implement an effective market strategy.
Thanks to Nigeria’s active startup ecosystem, platforms like Accounteer find it relatively easy to grow and expand at a substantial rate.
“Nigerians are also very open and helpful. Even in large corporates such as banks, people are accessible and open to collaborating. For some, it might sound like a surprise but some of the products we’re currently building in Nigeria we couldn’t build in Europe or the US. The speed of innovation in Nigeria and Africa as a whole is impressive,” says the founder.
In the future, the service aims to make accounting data even more applicable for any business.
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“Accounting is at the core of any business. We’re already working with some financial service providers to provide cheaper credit by using financial data to assess the creditworthiness of the business. We’re also working on automating your accounting flows. E.g. automatically importing your bank statements and categorising them. Basic accounting tasks will be more and more ‘robotised’ which is a good thing. It frees up time for entrepreneurs who can now focus more on growing their businesses,” Merijn says.
In 2018, Accounteer was among the regional winners of the Mest Africa Challenge.
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