Nigeria Business & Finance Updates

Survey rates Nigerian software entrepreneurs high

A global information resource for the financial technology sector, Bobsguide, in its 2019 Global Payment Rankings, has rated Nigerian Software entrepreneurs high.

The survey voted Clirec, a reconciliation solution from the stable of Precise Financial Systems as the world’s best account management solution, out of 40 categories.

According to a report from the global payments ranking, Clirec is the only brand representing the Africa continent in the Bobsguide 2019 Payments Rankings, which is voted for by each firm’s clients and end-users and it represents a diverse list of old and new innovative players.
Clirec is deployed in Nigeria and other African countries.

Bobsguide wrote on its website: “This year we have asked market participants to select who they believe to be the leaders in the payments and paytech industries and votes flooded in across the board. Payments have become a fast-moving vehicle, driven by regulation, market forces and technological advances. New players are emerging while incumbents look to reinvent themselves in this evolving ecosystem.”

Bobsguide offers a combination of news, analysis, reports, whitepapers, webinars and a comprehensive product directory, listing over 7,000 fintech solutions in areas such as asset management, risk management, payments and transfers, treasury management, wholesale banking and trading.

To emerge overall winner in the “best account management solution” category, Clirec – a suite of fully integrated accounts reconciliation modules with multi-currency and multi-lingual capabilities – outperform the duo of Free Agent from Scotland and Xero from New Zealand, which returned as second and third place winners respectively.

On the other hand, Remita Payroll is another solution that is ranked high on the continent.
Since Access Bank Ghana deployed the payroll, payments, reporting and reconciliations system from the stable of SystemSpecs, a software pioneer development company with a focus on Africa, the bank’s customers have said goodbye to the difficult and unending hours spent to process their payroll, payment and reporting.

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The Managing Director of Access Bank, Ghana, Kris Njoku, explained that the integration with the Remita payroll system forms part of the bank’s long term objective of meeting the needs of various organisations when it comes to payroll management.

Njoku said in a report that the alliance with Remita payroll system has assisted the bank to fulfill one of its objectives of becoming Africa’s gateway to the world, as the solution provides the bank’s customers with so much convenience to manage their monthly payroll processes on a single platform and frees the customers to focus on their core operations.

One of the major advantages of the service, Njoku pointed out, was the online and mobile availability as well as its ability to fully eliminate the need for organisations to process payroll on one platform and then take the data to another platform to transfer salaries or send salary schedules to various banks.
The president of the Institute of Software Practitioners of Nigeria (ISPON), Dr. Yele Okeremi, confirmed the global recognition given to Nigerian Software Entrepreneurs.

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