Clean Technology

EasyBooks Solutions, an innovative and affordable accounting software

Written by Samson Fiado

Tell us a few words about the founders and how the idea came

EasyBooks Solutions was founded in 2015 by a third year Business Information Systems student at University of Malawi, the Polytechnic.

Most of small scale businesses in Malawi fail to grow or face stunted growth because they lack excellent business planning and financial management

Malawi has many Small and Medium Enterprises making up 95% of all the enterprises. However very few of SMEs use accounting software/package to manage their enterprises

Many SMEs have wanted to use accounting software knowing how important accounting software is for the success of an Enterprise but cannot afford the ones available on the market because :

  • They are very expensive with an average annual license fee of $3000 and a Malawian SME has an average business capital of $2000.
  • They are too sophisticated requiring higher technical knowledge in accounting and IT which is not so with Malawian SMEs and they cannot also afford to employ a graduate accountant to manage and prepare their business accounts
  • The packages do not suit a Malawian business structure as such the few that are using them, do not use them to the fullest (most features/modules are left unused even though they are all paid for )
  • Packages available are difficult to manage, customize, troubleshoot and maintain.

Due to this, most SMEs in Malawi are characterized by poor business planning, poor business Management and poor business record keeping resulting in most SMEs facing poor business performance and slow business growth leading to potential business failure

This has resulted in higher unemployment rate in Malawi (over 60% of the youth are unemployed) since the SME sector in an engine for employment creation. Apart from higher unemployment rate, this has resulted in many social and developmental problems since the whole economy is affected as the SME sector is a backbone of Malawi’s economy.

This led to the idea of designing simple to use, innovative and affordable accounting software, EasyBooks Accounting hence the found of the startup.

 Link to online video

Your products and services 

Products

  • EasyBooks Accounting Software
  • EasyBin ( Smart Waste Bin System, it alerts relevant personnel on the levels of wastes in waste bins via a mobile phone and/or a monitoring center for immediate waste collection. it also provides route optimization during waste collection )

Services

  • Software Development
  • Website Designing
  • Accounting advisory Service
  • Computer Hardware maintenance and repairing
  • Computer software troubleshooting
  • Computer cleaning (from viruses, worms etc.)

Your success factors 

Apart from our product being warmly welcomed on the market, it has gained recognition on both local  and international scene.

In July 2015, it was shortlisted as one of the best upcoming innovations in the world by US department of State and American Association for the Advancement of Science through an initiative called Global Innovation through Science and Technology (GIST) and it was awarded the SPIRIT OF TECH-I at Global Entrepreneurship Summit that took place in Kenya  of which the keynote speaker was the president of the US, Barack Obama.

Locally, the Software represented the country at International Telecom Innovation Exhibition fair that took place in Budapest, Hungary in October, 2015

EasyBin is still a prototype and it was crowned the best environmental innovation award winner during Malawi ICT Innovations Awards in December, 2016.

 Your factors differentiating and disruptive compared to the existing 

 Many features make our Accounting Software outstand other accounting packages. Few of which are :

  • Easy to use – It does not require a user to have any basic knowledge in accounting. All accounting procedures (what account to debit or to credit) for the notable accounts are done by the system in the background. For example, when posting sales you don’t have to enter two journals (i.e debit and credit); the system will tell you what accounts will be affected using the data that you have entered.
  • Innovative – EasyBooks has a planner module which will help you make pre-purchase or pre-production planning. i.e how much should you purchase or produce of a particular product for you to break-even and also make the desired profit from the product including helping you to have proper quantity combinations of different products for your business to make profit. EasyBooks also has a fleet management module which helps you keep track of your individual vehicles in terms of the expenses incurred as well as income generated.
  • Mobile Phone Interfacing – Our software is able to interface with a mobile phone e.g you can query stock levels using your mobile phone, perform system backup via your mobile phone, Alerting you (Manager/Admin) of any abnormal transaction or requesting approval of transaction and many more. (This feature is only configured upon some agreements with the client)
  •  Affordable – EasyBooks Accounting software is priced in such a way that every SME in Malawi is able to have it. At EasyBooks Solutions, we will take pride in the success of your enterprise through excellent business planning, record keeping and business performance analysis using our software.
  • Customizable – We will customize the software at an affordable fee to insure that it 100% captures your business operations.
  •  HR & Payroll – EasyBooks Accounting software lets you manage your work force and payroll which is also very easy to use

 We work with much professionalism and integrity to satisfy the needs of our clients

Your business model

 By selling the software, providing system support, developing systems for clients as well as annual license fees for the Accounting software

A few words about your competitors

 We do not have a local competitor, our product is the only accounting system locally developed. Our competitors are international Accounting systems of which we have an upper hand interms of system support, customization etc.

About the author

Samson Fiado

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