EconoServ becomes Proudly South African company

A first for SME accounting packages

Johannesburg, 20 Jan 2005
Read time 2min 00sec

EconoServ SA cc, the producer of EconoAccounting, has become a Proudly SA company. Keith Levenstein, CEO of EconoServ, says: "We are thrilled to be awarded the much sought-after accreditation of Proudly SA. Our major product is EconoAccounting, the first SME accounting package that imports bank statements that have been downloaded from the Internet.

"EconoAccounting is a wholly South African product. The entire development has been done by us at EconoServ, even the design of the packaging and manual. Even more relevant is the software is designed specifically for South African conditions. Our unique `import feature`, which imports bank statements downloaded from the Internet, was designed to support all available South African banks including FNB, Standard Bank, Absa, Nedbank, Investec Bank, even niche market banks like Mercantile Lisbon.

"As far as we can ascertain, EconoAccounting is the only SME accounting software that carries the official Proudly South African label.

"One of the main reasons for creating such a package was that we saw a huge need in the South African SME marketplace for an accounting package that is usable by the average small business owner. Notwithstanding the many packages on the market, the fact that the vast majority of small businesses do not do their accounts, proves that something is not right among small business owners.

"We identified and solved the problem: existing packages require far too much data capture work, and sometimes are too complicated. They expect the businessman to spend ages capturing data, capturing cheques, capturing deposits, capturing debit orders, and all the other transactions that typically appear in the bank statement. Our approach, of importing the bank account, downloaded from the Internet, removes the data capture part, saving time, and encourages the business owner to spend the five minutes per day to keep his account completely up to date.

"We know that the future of employment of SA depends on the success of new small businesses. We hope we can assist and contribute to this success by providing a South African package that was designed for South African conditions and for South African business people," concluded Levenstein.

Editorial contacts
EconoServ(011) 483 1190keith@econoserv.co.za
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