Computer software and web-based business tools provider Zoho has announced that its Zoho Finance Platform has achieved 70% year-over-year (YOY) revenue growth in the MEA region, supporting more than half a million businesses across more than 160 countries.
The corporation, which has its roots in India, but offers its services across multiple markets across the world, has revealed that Zoho Books, which now supports 180 currencies, 17 languages, and is backed by a comprehensive global tax engine that solves country-specific tax compliance challenges, including Kenya, has been essential in driving the platform’s growth.
It is only in September that the company launched its VAT and Tax Invoice Management Systems (TIMS) and accounting software Zoho Books for the Kenyan market. The tool is developed with Kenyan businesses in mind and plays an essential role in helping businesses prepare for the implementation of TIMS, smoothen the transition and ensure compliance.
The company adds that the accounting application now supports 14 editions. Since the pandemic, the global edition of Zoho Books in Kenya has seen a 318% increase in new customers and a nearly 100% increase in revenue.
Zoho Books has, however, been around for more than ten years. It is among the five highest-grossing Zoho products, with revenue growing 50% YOY globally. The accounting application offers editions across the globe, including the US, UK, Canada, India, Australia, UAE, Kenya, and Mexico. Zoho Books is a government-recognized VAT-compliant solution in UAE (FTA), and also VAT and e-invoicing-compliant solution in other regions.
“We’ve seen excellent adoption of Zoho’s finance suite of applications by businesses in the MEA region, and also across the world,” says Veerakumar Natarajan, Country Head, Zoho Kenya. “Zoho’s finance platform offers businesses an unparalleled breadth and depth in terms of product capabilities. This enables businesses to customize the applications, extend their capabilities, and scale the solutions to evolve rapidly with their changing needs.”
