A local ICT expert has urged custodians of company accounts to embrace new technologies as well as the use of new social media platforms to improve efficiencies and fit into the global village. Business Reporter
Addressing delegates attending the Association of Chartered Certified Accountants (ACCA) Chief Financial Officers workshop on Thursday, Prestige Information and Communication Technology managing director Joseph Goromonzi said there was scope for companies to cut overhead costs by adopting modern ICT strategies. “An ICT strategy is critical in shaping the future as well as increasing business agility,” Goromonzi said.
“Econet, for instance, has taken the market by storm through products such as EcoCash. A few years back NetOne used to dominate, but in the coming months what they (Econet) are going to do to the market after the takeover of TN is going to be phenomenal.
“An ICT strategy enables staff to carry out business functions through modern processes, streamlined to remove duplication, maximise efficiency and support business change.”
He added that companies should formulate strategic plans with a continuing time horizon of three years and a predetermined medium-to-long term horizon.
Goromonzi said the use of cloud computing was effective in easing the company’s burden by freeing its resources for higher value initiatives.
In cloud computing, the word cloud (also phrased as “the cloud”) is used as a metaphor for “the Internet”.
Therefore cloud computing means “a type of Internet-based computing,” where different services — such as servers, storage and applications — are delivered to an organisation’s computers and devices through the Internet.
- Chamisa under fire over US$120K donation
- Mavhunga puts DeMbare into Chibuku quarterfinals
- Pension funds bet on Cabora Bassa oilfields
- Councils defy govt fire tender directive
Keep Reading
Cloud computing is comparable to grid computing, a type of computing where unused processing cycles of all computers in a network were harnesses to solve problems too intensive for any stand-alone machine.
Speaking at the same workshop, Alpha Media Holdings Editor-in-Chief Vincent Kahiya said apart from preparing financial statements for companies, CFOs have a role in improving corporate image.
“In this age of knowledge, we must start using a mix of all communication tools. We must move beyond the command and control business model to connect and collaborate.
We should move from just return on investment to return on people,” Kahiya said.
“Despite the rapid rise of social media many Zimbabwean businesses are only just beginning to dip a ‘toe into the water’. While some uses of social media could be characterised as experimental and opportunistic, other businesses have notched up notable successes on the back of deliberate, well-defined social media strategies that support brand building, product innovation, and creative new ways of delivering products and services.”
