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New Way of providing accounting services

Njoroge Kabugu's Profile
Many small enterprises especially in the developing countries, egg street vendors or other individually owned businesses, do not keep any financial records, but tend to keep a log and more information in their head. I am looking to for some one who can provide any ideas/ brainstorm ideas, formal or otherwise or even new ways to provide basic record keeping to such a sector in the developing countries.

Answers

Scott Lane
Title: CFO and CRO
Company: TPG Credit Management
(CFO and CRO, TPG Credit Management) |

Is there a way to use cell phones / PDA's to somehow track basic financial information? I know that in developing countries often people have cell phones before land lines and are starting to use cell phones for banking.

Just a thought but perhaps there is an opportunity for some kind of application for cell phones that can be built.

Njoroge Kabugu
Title: Database Manager
Company: Horizons for Homeless Children
(Database Manager, Horizons for Homeless Children) |

The growth of cell phone use has grown at an exponential rate leaving landlines to be used only by some business. In fact, some businesses now to have cell phone line dedicated only to business. While the use of cell phone information to feed in a central database is very possible, there is the risk of data verification. One can feed in the daily expenses and sales into a central database, by using sms technology, which would provide the source for basic bookkeeping. However there would always be a risk for verification of the actual transaction. I am willing to discuss this idea further or think of other ways to solve this challenge. This is a great opportunity, I think. Would you be in a position for us to brainstorm further in future?

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