Documents developed and kept using digital technology are referred to as digitized recordkeeping. Technology has given many, if not all, organizations around the globe the ability to increase the efficiency of their customer satisfaction.
Today, any organization’s capacity to perform greatly is determined by how it adopts technology and how it invests in its long-term viability.
As a result, OZÉ, a Ghanaian fintech firm that offers medium and small enterprises with digital recordkeeping technologies and integrated financial solutions, recently secured a $3 million Pre-series A round.
Cathay AfricInvest Innovation Fund, Savannah Capital, and other undisclosed angel investors participated in the company’s current funding round, which was led by European early-stage VC Speedinvest. This development comes after OZÉ received $700,000 in startup funding in 2021.
In Ghana and Nigeria, OZÉ has a customer base of over 125,000 company owners. That figure is a piece of cake for more than 100 million small companies in West Africa, according to OZÉ’s target market.
Typically, these companies have been managed as hard as hammer firms using pen and paper. Request for technological and financial goods to digitize firms is expanding as they strive to develop an online presence.
The OZÉ business software assists these medium and small enterprises in keeping track of revenues, expenditures, payments, collections, and client information.
This information is evaluated to deliver customized insights, reports, daily business suggestions, monthly business workshops, and availability to an on-demand business trainer to businesses.
Techbuild’s Take
There is a great change in recordkeeping from paper-based to digital records. The transition from paper and pen records to digital recordkeeping has been embraced and adopted by various startups with its fragmented array of success and even challenges. The transition has also created a gap in the quality of services delivered by this new technological tool.
The ability to manage good records for SMEs is a major challenge and startups like OZÉ is using great innovations to make it more expedited for small and medium-sized businesses to achieve their business goals. This technology has been widely accepted and proven its worth.
OZÉ gathers productivity and demographic data depending on how companies make use of the platform, which it utilizes to identify credit risks and develop option credit scores.
The company collaborates with financial institutions such as banks and fintech to provide loans to businesses that need help.
Record keeping used to be done manually with pen and paper, but owing to new technology, it has become quicker and faster, as well as more accurate.
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