Auditing application for SMEs developed

AN innovative application code named (Round: Internal Hub Management Portal) aimed at assisting small and medium enterprises (SMEs) with proper auditing of their financials has been developed targeting close to 30 000 entrepreneurs.

Lack of standard book keeping is one of the major issues cited for stalling growth of most sector players in the country as they run their ventures without expertise.

This proves to be a stumbling block when seeking capital injection from financial institutions.
The inventor of the application, a 33-year old Bulawayo resident, Mr Thamsanqa Bhala said the application allows businesses to manage their bookings, invoices and quotations under one platform.

“The benefit is that the application is cost efficient for small businesses because the initial cost of quick books is over US$30 which many cannot afford. If you are a start-up, the major factor is having cost effective services, efficiency as well as remaining professional,” he said.

“The system will also help to avoid fabrication of information because it is highly digital and it can assist in auditing as it is able to keep all the business records.”-chronicle