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Adeola Adesanya, one of the directors at PML, a Yaba, Lagos based professional service firm, providing services and solution in audit, tax, advisory and software speaks on the convergence of information technology and financial services industries. In this interaction with IT Edge News, Anthony Nwosu, in Lagos, Adesanya says he believes SMEs are pivotal to sustaining the client scheme of financial technology services companies and with cloud, the business case is stronger.
Adesanya: We have the mentality that small firms lack the capacity to deliver
Tell us about PML and the various solutions that you offer?
At PML, we are passionate about earning your trust. We take deep personal accountability, individually and as a team to deliver exceptional services and value in all our interactions. We are bound together by a shared commitment to quality, integrity, and the creation of clarity in a highly regulated and competitive environment. We have been in the financial technology and software space for some time and we have grown to be known as one of the leading accounting solutions/software provider in Nigeria. Our core areas are audit, tax and advisory, software and we diversified to implementation. We implement the following solutions; SAGE Accounting Software, SAGE HR and payroll solutions, LASER Internal Audit Management Solution, LASER Legal Compliance Solution and others. We offer trainings on risk management, compliance, accounting, audit and HR.
With the solutions you offer, it seems that you have the big players all fashioned out. Are you looking at SMEs?
Yes, we currently have a dedicated desk that assists SMEs in various areas. This includes provision of accounting services with the help of technology. One of the great advantages this service has is that it is hosted in the cloud thereby making it an all-encompassing, affordable solution. We understand the role the small and medium enterprises play in the ecosystem and we have tailored-made solutions for them. Our solution cuts across all strata.
“One of the great advantages this service has is that it is hosted in the cloud thereby making it an all-encompassing solution. We understand the role the small and medium enterprises play in the ecosystem and we have tailored-made solutions for them. Our solution cuts across all strata.
What are the challenges you are facing in the business?
There are many challenges faced in this business. One of it is the problem of industry giants who are playing in the space of small business.Also, brand recognition where customers must trust the company they are entrusting with their financial information. In Nigeria, there is this misconception of believing in small indigenous firms, we have the mentality that these “small” firms lack the capacity to deliver and forgetting that the “young shall grow.” However, this erroneous impression is changing but it is still there.
Are you looking at expanding your business into other African countries?
Yes, every business owner’s prayer is to escalate their business. PML Advisory apart from Lagos has a branch in Abuja and still hoping to have more branches not only in African countries. We are taking it one step at a time, but as for now, we are looking at how to service our local industries.
As a businessman, what models do you employ in business and how has it been helpful to running your business?
As a business man, the models I do employ in business is that I don’t provide answers to all questions. I allow my staff to do research and provide solution in multiple ways. We run an open ended business where we make the staff know that they are valued and their decision are always put into consideration. We appraise and give our staff credit, when it is due.
“We render financial services leveraging on IT and we do support our clients, also as the technology is improving so is our business. Therefore, we can consider ourselves as an ICT firm and financial consultancy firm. In a way, this is convergence.”
Do you consider yourself an ICT firm or a financial consultancy firm?
We render financial services leveraging on IT and we do support our clients, also as the technology is improving so is our business. Therefore, we can consider ourselves as an ICT firm and financial consultancy firm. In a way, this is convergence. We see ourselves as an IT firm at the end of the day.
What advice do you have for would be entrepreneur in this field?
The advice I will give the entrepreneurs in this field is to always learn more and work harder to obtain greater heights. It is not all about the passion, but determination and the zeal to always succeed against all odds. It isn’t an easy road, but with focus and perseverance, you will get there. There must be room for learning. The bottom line is that running this kind of business or any other business isn’t a walk in a park thing. One must be prepared for it.
