‘BMAC will democratise business practice’
Project Director, ikOOba Technologies, Mr. Sam Afemikhe, has stated that the new Business Measurement Accuracy and Collaboration (BMAC) Cloud Accounting Solution will help democratise business practice, bring hope and restore confidence by promoting collaboration to enhance business growth. He spoke at the launch of the solution in Lagos recently, and noted that BMAC takes basic accounting and reporting to the boardroom and the corner shop using its assembly line concept at affordable rates.
“In all aspects, with BMAC Accounting, IMS and the HR Payroll, entrepreneurs can now understand how their businesses are fairing,” he added.
He said the solution was conceived and built by an all Nigerian team of accountants, developers, business analysts, quality assurance and UI/UX experts dedicated to developing a proudly Nigerian Solution of international capacity.
“As a team committed to finding solutions to the everyday problems faced by Nigerian businesses, BMAC is developed to promote collaboration among major stakeholders of business,” Afemikhe. “BMAC is also aimed at enhancing transparency, integrity, openness, trust accuracy in measurement, reporting and assurance, all important ingredients for a thriving economy.
“Drawing on our experience as accountants, we have made it our mission to assist businesses become better at keeping their business records and to advise them on how to grow their businesses sustainably. We have a mantra in our organisation that every business is speaking to its owner or owners and accounting is the language needed to understanding what that business is saying.”
Further, Afemikhe stated that BMAC is designed for three principal entities namely business owners, accountants and influencers. Concerning business owners, he stated that with BMAC, the solution could record and analyse their business transactions securely and quickly anywhere, anytime.
For accountants, he said BMAC was designed for easy use and would help in bookkeeping and accounting. He explained that its key features include core accounting, notebook, dashboard, collaborator tool and reports. It is also customisable. The Cloud Accounting Solution helps businesses keep proper accurate and informative accounting records
For influences, he noted that these key players provide finance needed as with banks, or wholesale distributor such as Promisador, Coca Cola or Nestle, which trade with retail business units that use the BMAC suits. Other influencers can include finance providers such as SME Development Funds, Angel Financiers, FMCGs and other funding institutions of government or development charities.
Afemikhe, however, said his company was always prepared to partner with Influencers (banks, finance houses, FMCGCs etc) and accountants for mutual SME capacity building to support sustainable growth and mutual benefits for all parties, adding, “We have already signed MoUs with a number of banks and professional accountants.”
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