Odibooks, Kenyan Startup Launches Accounting Platform for SMEs

An accounting tool that enables SMEs to automate and manage all of their corporate financial procedures has been released by Kenyan fintech startup Odibooks.

Odibooks, a web-based accounting platform for SMEs in East Africa, was introduced in February by Maxwel Odira and Erick Odudo. It assists companies with tasks including quotation, order and invoice administration, inventory management, and financial reports.

Businesses do not need to apply for M-Pesa API access from Safaricom since The Odibooks offers customers automated invoicing and payments from their customers using simply their existing M-Pesa Till Number, M-Pesa Paybill number, or their bank account.

If their suppliers allow bank payments to Kenyan banks, Paybill numbers, or Till numbers, “SMEs also have automatic bills and expenses payments via M-Pesa,” Odira noted. Odibooks simplifies tax administration and offers pre-formatted Excel tax reports for submission. For simpler refilling, SMEs also have the option of setting automated reminders for every item inventory exceeds a particular number.

After onboarding dozens of companies, the self-funded firm is aggressively seeking to raise its first round of capital to scale its operations. It is already operational in Kenya, and within a year, debuts are anticipated in Rwanda, Uganda, and Tanzania.