Probitybooks is an invoicing and inventory software that helps SMEs manage their business performance.
Probitybooks Online makes day-to-day accounting painless, whether you’re processing an invoice or managing a retail business.
1. Your name, bio and little about you.
My name is Olushola Ogunniyi, the co-founder of Probitybooks.com. I am passionate about internet applications and how it can be applied to everyday lives. As a graduate of Computer Science, I used my school project to demonstrate how e-Education can be achieved using online classroom, attendance grading and examination. It was was applauded and demonstrated to the University Senate of the University Of Ilorin.
After school I have been involved with IT support and business consulting for small, medium and large companies like StanbicIBTC, IHS Towers, Nndlovu SA, Mikano, Creseada Int’l, MTN, Pepstores, Lloyd Anderson, Keystone Bank etc
2a. Why did you create ProbityBooks and what major pain points is it solving for businesses in Nigeria?
ProbityBooks is a cloud based business accounting software, developed to help small and medium businesses grow. It combines Invoicing and Inventory as core features to help business keep up to date with their growth. As a software as a service platform, we offer users a 15-day trial account to test the platform without the need to pay or give us your credit card when they sign up on our website: www.ProbityBooks.com
Our biggest users are business owners who want to keep track of their business performance without the hassles of digging through files endlessly. We give them a real-time, bird-eye view of their business metrics from a single dashboard. Accountants, book keepers and auditors can also automate many of their processes, thereby saving the company on endless manual tasks. We understand that most businesses fail because of poor accounting, and with poor record keeping, we launched Probitybooks in December 2016 to help businesses overcome this challenge.
Let me share a little story.
Before starting Hacom Technologies Ltd, I went through a 3 years apprenticeship with EasyDuzIT Limited, it was there I learnt a lot about starting and running an IT business. Then, one of our biggest challenges was that we could not afford an accounting solution and we would document our expenses in hardcover notebooks. When I started my own company also it was the same process and when it was end of the month I start to have sleepless night on how we were going to pay our small team of 5 engineers. (Incidentally 3 are my co-founders Adimula Adetayo, Ope Adelaja and Samson Oloruntoba)
I did not have an accounting background except the little I knew when I was running my mother’s shop way back, so how do I balance my tight routine of ensuring our main business is running and also have a means of keeping tab on the company numbers, knowing fully well that we can’t afford a full time accountant.
So I approached a friend who is an online merchant with 2 personal Online Stores and also sells actively on popular online markeplaces, that I need an accounting solution for my business. Unfortunately we had the same problem, I watched in despair as he laments that he see huge figures in the bank a times and sometimes the company is broke and he has tried so many foreign solutions but they don’t really fit his business model.
So I said him let’s build a solution to solve our business challenges and that its why we combines Invoicing and Inventory as our core feature my own challenge is invoicing, getting paid and tracking our expenses, his is inventory, getting paid and tracking returned good.
2b. How does PROBITYBOOKS compare with foreign solutions?
Probitybooks is an all-in-one solution with a lot of features that most foreign brands sell individually. Unlike most foreign brands that are expensive and difficult to use, we made the English very easy for non-accountants and we do not charge for training since you can master the platform in 30 minutes.
ProbtyBooks is built 100% in Nigeria, so if a customer needs a process to be edited or a new feature built into it, we can undo go that with minimal efforts as we have our developers in house. The different tiers of the product is also competitively priced more competitve than foreing products. This way, we are helping local businesses reduce the demand for Dollars as we are in the crusade of promoting #buynaijatogrowthenaira.
3. What is the target market for the solution (is it only for retailers or business with multiple stores? How can service professional use it?)
We carefully designed ProbityBooks to cater for both product and non-product based businesses like service providers, auto repair workshops, printers and graphics artist, consultants, inventory managers, retailers, shop owners, beauty palours, fashion designers & outlets, ecommerce merchants and small and medium businesses (SME’s).
4. How can it help business or improve their revenue and business management.
Cost saving: A business solution must either help a business to make money or prevent it from losing money or even both, our solution first of all stops leakages in the system as we have a robust inventory management feature that tracks stocks that goes in and out of the business. Since many of these tasks can be automated, it can make a big savings on the cost of hiring full-time accounts
Time saving: It saves a lot of time and stress so that business owners can focus on their core business. For example, the invoicing section for professional business takes just about 1 minute to fill (from any laptop/tablet and no installation) and send to the customer electronically and the business can also get paid with settlement directly in their bank account. Also a copy is securely saved online for future use.
Business intelligence: The business owner has a firm understanding of his/her business positions as he can review total sales daily only, stock levels, profit and loss etc.
5. Is probitybooks a replacement for accountants? (Do you have relationships with accountants and book keepers?)
Probitybooks is designed to complement the roles of accountant and book keepers. Business owners that cannot afford hiring full-time accountants can easily use the software to manage their own book keeping, invoicing and inventory.
Accountants can also work with the exportable data to automate their job functions.
We also recommend it to financial institutions like Bank of Industries, BOI or organizations that give out loans as a tool to monitor performance of their loans.
6. Does probity books help business to be tax compliant? How can businesses take advantage of that
To comply with all tax audit requirements we designed Probitybooks to account for VAT deductions and easily compute it at the year end for tax filing. The audit report makes it easy for our users to be tax-compliant.
7. How does Probitybooks cater for situations where there is no internet access.
While Probitybooks is designed as a cloud-based solution, we understand the possibilities of internet downtime at the locations of our users. We offer a self-hosted version, which can run without internet and make it easy to syncronize the data to the web real time as soon as internet access is restored.
Our website: www.ProbityBooks.com