Geena: The Early Market Leader in Digital Bookkeeping in Africa
With arising challenges faced by small and medium business owners regarding the interpretation of financial information and transactions, Xend Tech, a fast-growing tech company in Nigeria, and creators of the first decentralised finance (DeFi) platform for credit unions in Africa, has developed a groundbreaking product, Geena, to help entrepreneurs compute financial records.
Geena is a mobile-first software whose features are showing potentials towards becoming the early market leader in digital bookkeeping in Africa, being the first Nigerian-owned product of this magnitude in enterprising. “Bookkeeping has been a deficit in African businesses, and this is the problem Geena tends to resolve by creating seamless digital bookkeeping. The platform also houses other features that are very relevant to business owners, especially retailers. Geena is a very efficient personal business assistant that comes with all its ‘fix-it boxes checked and balanced. It was created to be digitally competent,” explains Ugo Aronu, Geena’s CEO and co-founder at Xend Tech.
For a while, entrepreneurs have resorted to recording and tracking the financial transactions of their businesses in files, books, or journals. Yet, they are still faced with the challenge of entirely losing their data due to unfortunate situations like a missing journal, or a fire accident. Geena’s launch into the market should, hence, be globally commended. Its aptitude for providing innovative methods for businesses to operate a reliable digital bookkeeping system has placed it at the top of the list of the early market leaders.
With its trailblazing bookkeeping methods, Geena facilitates SMEs’ ability to put their products/services on the internet, keep track of the goods they have in store, record business transactions, with digital invoices and receipts, and more. It could also serve as an e-commerce website for retailers who cannot afford an online store. These many features will help businesses do better and achieve greater results. Retailers do not have to worry about issuing out faded receipts or invoices to their customers.
Geena provides a suitable condition for business operations to be done anywhere and anytime with a mobile phone. “Geena also creates the possibility for individuals handling bookkeeping to share data directly from their mobile devices to an accountant or a manager when the need arises. Having all their data in one place makes it easier for them to track, create a business report and make a decision that would enhance their enterprise’s growth,” Ugo Aronu adds.
Geena was born out of the necessity to bridge a gap, following research that had shown that virtual accounting websites charged a lot to compile and record business data. Its focus is solely on SMEs because, according to Mercy Emmanuel Geena’s Growth Manager, “small and medium business owners do not earn enough to pay an outrageous amount on virtual accounting. Retailers would have nothing left if they are continuously charged to maintain their business financial information.” Bookkeeping enables a prediction of expenses rate over profit. Thereby, with Geena enabling a restructuring in the management of finances, it has begun to dominate the SME market in Africa. Business management is going to be way better than it was in the past.
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