Zoho Finance Platform records 70% growth in MEA region
By Onome Amuge
Zoho Corporation, a leading global technology company, has announced that the Zoho Finance Platform achieved 70 percent year-over-year (YOY) revenue growth in the Middle East and Africa (MEA) region.
The significant growth of the finance platform which supports more than half a million businesses in over 160 countries, is attributed to the global expansion of its cloud-based accounting application, Zoho Books, available in 180 currencies, 17 languages, and is backed by a comprehensive global tax engine that solves country-specific tax compliance challenges.
Zoho’s Finance Platform includes solutions for accounting, inventory management, travel and expense management, and billing and subscription management. These applications are built on the same underlying platform, enabling instant interoperability, seamless data flow, and unification across systems.
According to Zoho, the accounting application is now available in 14 editions, including Kenya where it is compliant with TIMS, and Nigeria, where it has witnessed 160 percent YOY growth.
The company’s data also showed that on average, customers using Zoho Books for more than one year adopt at least two other applications within the finance suite. In Nigeria, acquiring Zoho Books starts at NGN2,700 monthly per organisation. It also comes with a free plan which can be accessed at www.zoho.com/books/pricing/.
Beyond products and the platform,Zoho disclosed that businesses can benefit from the strength of the ecosystem by connecting with any third-party applications through APIs and Zoho Marketplace. The development, Zoho said, significantly reduces the need to invest in IT resources.
Hyther Nizam, President MEA, Zoho Corp,in a statement,confirmed that the company has seen excellent adoption of Zoho’s finance suite of applications by businesses in the MEA region, and also across the world.
Nizam noted that Zoho’s finance platform offers businesses an unparalleled breadth and depth in terms of product capabilities. This, he explained, enables businesses to customise the applications, extend their capabilities, and scale the solutions to evolve rapidly with their changing needs.
“The consistent global growth of the applications that we’ve seen over the years is a testament to this fact. We will continue to invest in the platform to make it a truly innovative solution that businesses can leverage to reach their full potential,” he added.