There are 1 Companies in Uganda
that provide Bookkeeping Services!

Uganda’s ICT sector was worth an estimated $5.48 billion in 2017, constituting 31.7% growth from 2016. The telecommunications segment makes up the vast majority of this at around $3.2 billion. Other important contributors are broadcasting, data center services, cloud, IT, and BPO.

Uganda’s combination of relatively stable governance, strategic location, and young and innovative population has made it an attractive destination for multinational companies. Several notable firms such as Google, Microsoft, or SAP have offices in Kampala, and some have based their entire African operations from these offices.

Why you should work with Ugandan IT companies

Digital service providers in the cloud and BPO markets are largely involved in the provision, rather than the development, of services, whilst Ugandan firms are more prevalent in the fintech and eCommerce markets. The physical technology required for the delivery of digital services is typically imported, and it is not clear that Uganda could produce these products more efficiently. 

A key strength in the digital services market is the acceptance of mobile services. Any consumer solution entering the market would have to be mobile-compatible. Mobile healthcare services are expected to grow particularly rapidly as the sophistication of these offerings increases.

What to pay attention to when working with Ugandan IT companies and web agencies

On the consumer side, it is vital that any proposed digital service offering be mobile-compatible due to the prevalence of mobile usage in Uganda. Furthermore, smartphone penetration in the region is steadily increasing, thus increasing the sophistication of viable digital service offerings. 

Given the acceptance of fintech by the Ugandan population, a possible route to entry in the consumer market is to acquire one of the many smaller fintech firms in the industry. This would resolve some of the primary barriers to entry, most specifically bureaucratic red tape and a lack of local knowledge. 

On the corporate side, the most effective route to entry is likely through partnerships with smaller local resellers. This model is already popular in the Ugandan market. A key differentiating feature here will be how well the service adapted to the Ugandan market

How reliable are Ugandan-based IT companies?

Considered to be one of the biggest African IT hubs, Ugandan web agencies and IT companies compete only with Ethiopian ones in terms of reliability. As many foreign companies have already invested and thus developed the local IT infrastructure and industry overall, Ugandan IT companies find it easier than other neighboring countries to enter the global market and provide their services for accessible prices. 

How does the Ugandan IT industry relate to the neighboring countries?

Uganda is actively trying to establish itself as a key ICT hub in the East African region. The country appears to be making good progress in this regard, helped by having a strong connectivity infrastructure and a young, innovative population. Despite this, the country currently faces considerable political uncertainty, and issues surrounding the transparency of tenders remain a major barrier to growth.

Although Uganda’s score for the metric measuring the economic impact of ICT is not high in absolute terms, it ranks 54th in the world. This supports the conjecture that businesses, government, and consumers will be receptive to new technologies as ICT has already had a substantial impact on the Ugandan economy.

How will ICT Impact Uganda in 2022?

Uganda has lost one of the telecom investors and operators on the market - Africell. The change has an immediate effect on the labor market and telecom industry. The reasons behind leaving Uganda is in limited possibilities the country offers to the telecom operator. For Uganda, 2022 is a challenging year in ICT with a low internet penetration rate, tech education, and, competitivity. 

Bookkeeping is the process used to record the financial transactions of a company. These services involve tracking how much money enters and exit a firm, such as payments from clients and payments to vendors. 

Did you know that bookkeeping accuracy is critical for company success? According to research conducted by a U.S. bank, 82% of small businesses fail owing to a lack of understanding and management of cash flow, highlighting the need for competent accounting.

Fact about Bookkeeping 

The profession of bookkeeping can be traced back to the 15th century when Italian mathematician Frater Luca Pacioli, known as the father of modern bookkeeping, introduced concepts like double-entry bookkeeping and other accounting systems that are still in use today.

Bookkeeping for every form of business requires various components and stages: 

• Documenting transactions

• Managing debits and credits 

• Processing payments and invoices

• Preparing financial statements (Income Statement, Balance Sheet, Cash Flow Statement, Statement of Owner’s Equity)

• Maintaining general ledgers

Bookkeeping offers the following benefits:

• Increased budgeting

• Simplified tax filing

• Ensuring IRS compliance

• Understanding seasonal business changes

• Monitoring financial metrics (revenue, costs, profitability, etc.)

• Gaining more operational time

How To Find a Bookkeeper

Bookkeepers manage a company's financial accounts, ensuring they are accurate and simple to understand. Their job is critical to the effective operation of a company, which might have many transactions in a single day, or over a week, month, fiscal quarter, or year.

At the moment, TechBehemoths has 25 Bookkeeping service providers. Choose a suitable provider based on their location, reviews, portfolio and hourly rate. Apply our platform filters, get in touch with them and create a contract outlining deadlines, rates, and expectations to ensure everyone is on the same page.

Also, you can submit your project, and we will select companies based on the project description, deadline, budget, and technical speciality for accurate matching.