Computer Warehouse Group (CWG) has unveiled an Enterprise Resource Planning (ERP) technology that will tackle the challenge being faced by small businesses in proper documentation and records keeping.
In a chat with journalists in Lagos, the Group Managing Director (GMD) of the company, Austin Okere said the technology was introduced to assist the SMEs to keep track of their activities for business sustainability.
According to him, SMEs don’t have access to financing because many of them don’t have clear records of their past business activities and relevant information which could aid their growth.
He said the new ERP tagged CWG 2.0 would help SMEs to have access to its data centre where their accounting, inventory and other business aspects can be processed.
“Today we have about 17million Micro, Small, and Medium Enterprise companies that cannot access bank loans for two reasons; they do not have transparent books and they do not have collaterals. So when they go to bank for capital to invest in their business the banks cannot give them because the bank is spending people’s money and they cannot be spending what they are not sure will come back,” he said.
He added that the company is proposing to the National Information Technology Development Agency (NITDA) to put the N9billion SME fund as collateral in banks for small business to access bank loans.
