Optimum Computer Systems unveils automated financial reports writer AI

Optimum Computer Systems has unveiled an Automated Financial Reports Writer AI — a revolutionary tool that will transform the landscape of financial reporting in Kenya.

With this cutting-edge AI integrated into Optimum’s Ultimate ERP system, generating accurate IPSAS-compliant financial reports has never been easier or faster.

This AI extracts and structures financial data, producing comprehensive, error-free reports.

Speaking during the launch in Nairobi on August 19, 2024, Cossigah Mokua Mamboleo, the CEO Optimum Computer Systems challenged the financial sector to embrace AI.

He said AI is a catalyst for change and a key enabler of innovation that is driving the future of finance.

“The world is rapidly evolving, with digital transformation reshaping industries across the globe. The financial sector is under increasing pressure to adapt to this new reality. In this context, the role of artificial intelligence is becoming ever more critical.” Said Mr Mamboleo.

He urged the public sector to embrace the Automated Financial Reports Writer AI to curb financial fraud.

“Our country has, unfortunately, faced numerous cases of financial fraud over the years. These issues not only erode public trust but also hinder economic growth and development. The financial sector, as the backbone of our economy, must be fortified with systems that ensure transparency, accountability, and integrity. Our Automated Financial Reports Writer AI is a decisive step in this direction,” he said during the event attended by representatives from institutions of higher learning across the country.

During the event in Nairobi on Monday, Prof George Muthaa, the Deputy Principal, Administration, Finance and Planning, Turkana University College, emphasised on the need to integrate and embrace AI to enhance operations in the universities.

“The launch of Automated Financial Reports Writer AI marks a significant milestone towards digital transformation and excellence in financial management in institutions of higher learning. Institutions will now be able to make data-driven financial decisions,” said Prof. Muthaa.

On his part, Mr Sammy Cheruiyot, the Principal Kericho National Polytechnic lauded the move to develop a customised AI Financial Reporting System for the Tvet sector.

"In the Tvet sector, we are currently implementing the CBET curriculum, which differs slightly in documentation compared to the previous Knec-based system. It includes a component known as the portfolio of evidence. We look forward to seeing how the system adapts and is upgraded to accommodate this,” Mr Cheruiyot said.

Optimum Computer Systems is a developer and provider of ultimate ERP systems for institutions of higher learning.