Businesses that use Accounting software are currently faced with a choice between maintaining dollar based subscription-Software options or Naira Based Accounting solutions. The former is currently carries a hefty price tag, because they are denominated in dollars, which now is a significant burden given the exchange rate volatility. On the other hand, local software, priced in Naira, offers a more affordable and stable alternative.
Foreign Subscription Software’s are Costly Affair. It has definitely become very expensive for Nigerian businesses, with prices ranging widely. The cost is compounded by the need to pay in dollars, subjecting companies to the whims of the foreign exchange market. This can lead to unpredictable budgeting and financial planning.
Local Nigerian Software’s are more Economical Option though not probably as extensive features-wise but they presents a cost-effective solution. Priced in the local currency, it shields businesses from exchange rate fluctuations. Moreover, local software vendors tailor their software to meet the specific needs of Nigerian businesses, which can provide additional value beyond cost savings.
The Verdict While foreign software may offer extensive features, the high costs, coupled with currency risk, make local Nigerian software an attractive alternative for businesses looking to optimize their expenses without compromising on functionality.
One of such local accounting software is MATonline
MATOnline (Web Version) also MAT Financials (Desktop Version) is an all in one financial software for service and product-based industries, comprising of modules like:
- MAT Accounting
- MAT Inventory
- MAT Payroll
- MAT Point Of Sale
- Advanced Inventory
- Multi location inventory
MATOnline is targeted towards small, medium and growing businesses (SMEs), providing them with a reliable and accurate process for organizing expenses, invoicing, business payments, Purchases, Bank Reconciliation, Budgeting, Advanced Access Rights and other transactions.
MAGNET ACCOUNTING TECHNOLOGY SOLUTIONS: QuickBooks | MAT Online | MATSMARTSHOP | HR & Payroll Software – Call : 08173943723, 08084708847 or WhatsApp (only) +234-9092942048 Email Info@magnetgroupng.com
