Telecom
Zoho Unveils ‘Expense’ to Help Mid-Market Businesses Recover from Effects of Covid-19
Zoho Corporation, a leading global technology company has launched a new version of its expense reporting software, Zoho Expense, that includes advanced capabilities to help mid-market businesses bring about efficiency in its T&E process, and control costs while recovering from the effects of Covid-19.
The company in a statement on Wednesday said that with the new version of Zoho Expense, businesses can seamlessly manage their travel, gain more visibility and control of their company’s global spend from a single place.
According to the statement, Business travel has been significantly reduced due to Covid-19 while remote working has become a global norm.
“More than ever, companies require the right processes and tools to improve collaboration, ensure compliance of all regulations, and optimise company costs until revenue is normalised.
“The new version of Zoho Expense is specifically designed to provide complete visibility on all costs incurred by the company across offices.
“With a chat bar built into the system, teams can communicate in real-time during the T&E process.
“Zoho Expense also allows businesses to have the flexibility to quickly implement changes in their travel and expense policy with customisable approval workflows. This means that businesses can rest assured that their compliance obligations are fulfilled in the event of an audit.
Kevin Permenter, Research Manager of Enterprise Applications, IDC, said,”As businesses continue to combat the effects of the pandemic, there is an increasing need for a central tool that provides visibility of their overall business spend, simplifies travel management, streamlines approvals, prevents fraud, and maintains compliance.
“With all these capabilities, Zoho Expense is helping businesses enforce company policies for T&E according to their country’s regulatory requirements. The system’s integrated travel management, budgeting, low-code extensibility and expense auditing features make this solution primed for rapid adoption in the mid-market segment.”
“When it comes to travel and expense management, large organisations are typically stuck with legacy solutions. With these solutions, businesses are having to compromise on end-user experience, and on the features they need.
“The new version of Zoho Expense is built specifically to address this problem – a solution that is both feature-rich, and intuitive to use. With end-to-end travel management, artificial intelligence-based fraud prevention, automation, customisable policies, advanced budget management, and a lot more, the software helps organisations easily control costs and manage compliance.
“Powerful mobile app, collaboration-rich features combined with ease of use, make this solution indispensable for both administrators and employees making expense claims,” says Andrew Bourne, Regional Manager, Africa, Zoho Corp.
Key benefits of the new version of Zoho Expense:
Increased Control and Compliance
Businesses can create budgets and track them with the help of a dashboard. Customisable alerts can be set which will notify users when the budget limit is exceeded, the system can also automatically block further expense report submission and expense approval.
With the rule engine, businesses can set specific spend limits based on hierarchy and expense categories to ensure compliance. The fraud detection capability saves time and money for businesses by automatically identifying and flagging fake receipts, duplicate entries, fraudulent data modifications, and mismatches between receipts and claims.
Businesses can set a fully customisable approval flow, and can reject, or approve every purchase made within the organisation. This adds an extra layer of control on spend before it happens.
All your travel in one place
Businesses can book, organise and manage all their corporate travel end-to-end both offline and online from a single place. Zoho Expense integrates seamlessly with Sabre’s GetThere, a powerful travel management solution, allowing employees to book their own travel online based on the cost approval flows, and other rules that the organisation sets.
Effortless Collaboration for Remote Workforce
The new version of Zoho Expense makes collaboration and communication intrinsic to employees’ travel process. The built-in chat bar, a functionality unique in the T&E segment, allows users to collaborate with the relevant stakeholders contextually in real time.
AI-powered virtual assistant
Zoho’s AI-powered virtual assistant, Zia will automatically remind users about their pending tasks such as incomplete trip requests, unsubmitted reports, and expenses. It will also help the users adhere to the policy by notifying them about failed receipt scanning and non-compliant expense claims.
Advanced customisation capabilities
Businesses can customise the functions of Zoho Expense according to their needs, creating a system that is fully tailored to the organisation’s processes and scales as the business grows.
Pricing and Availability
The new version of Zoho Expense is available immediately. Zoho Expense offers three subscription plans: the Free plan, Premium (NGN1500 per active user, per month, billed annually), and Enterprise (NGN 2400 per active user, per month, billed annually)
Meta has announced its intention to appeal the decision of the Competition and Consumer Protection Tribunal (CCPT), which upheld a $220 million fine imposed by the Federal Competition and Consumer Protection Commission (FCCPC) over its data practices.
The penalty follows a 38-month investigation conducted by the FCCPC, in collaboration with the Nigeria Data Protection Commission (NDPC), which ran from 2021 to December 2023.
The investigation found evidence of unauthorised data sharing, insufficient user consent mechanisms, and discriminatory practices that treated Nigerian consumers differently from those in other regions.
In July 2024, the FCCPC imposed the $220 million fine on Meta and WhatsApp, citing violations of Nigeria’s data protection and consumer rights laws. Additionally, the ruling mandated corrective actions to ensure that Meta’s business practices comply with Nigerian regulations.
In a decision delivered on Friday, April 25, the tribunal upheld the fine, reaffirming the FCCPC’s authority and investigative processes. The tribunal also ordered Meta to pay an additional $35,000 to cover the costs incurred during the investigation.
However, Meta expressed disagreement with the tribunal’s ruling, stating in a statement on Saturday, April 26, that it would urgently seek to appeal the decision and apply for a stay of execution.
“We are urgently applying to stay the order and appeal today’s decision to avoid any impact to users,” WhatsApp said.
The company also contested the tribunal’s findings, claiming that the ruling misrepresented how WhatsApp operates and contained inaccuracies regarding its data practices.
Competition and Consumer Protection Tribunal has upheld a $220 million fine imposed by the Federal Competition and Consumer Protection Commission (FCCPC) on Meta Platforms Inc. and WhatsApp LLC for data privacy violations in Nigeria.
The Tribunal also awarded $35,000 in investigative costs to the country’s Federal Competition and Consumer Protection Commission .
In a statement issued by the FCCPC, the Tribunal delivered its judgment in the appeal filed by Meta Platforms Incorporated (Facebook) and WhatsApp LLC against the Federal Competition and Consumer Protection Commission (FCCPC), affirming the Commission’s authority and ruling in favour of its actions on nearly all contested issues.
According to the statement by the FCCPC, “The Tribunal specifically determined that the Commission adhered to prevailing laws, fulfilled its mandate, and exercised its powers by the 1999 Constitution (as amended).
“It ruled that the multiple actions by WhatsApp and Meta, for which the Commission made findings of violations, were correctly identified, and that the Commission did not err in making those findings.”
The statement revealed that WhatsApp and Meta’s legal team was led by Professor Gbolahan Elias (SAN), while the FCCPC was represented by Babatunde Irukera.
It added that both legal teams presented their final arguments on behalf of their respective clients on January 28, 2025.
“The FCCPC had on July on July 19, 2024, issued a Final Order imposing a $220 million administrative penalty after concluding that the companies engaged in discriminatory and exploitative practices against Nigerian consumers, the investigation started in 2020.
“The case arose from a 38-month joint investigation initiated by the FCCPC and the Nigeria Data Protection Commission (NDPC) into the conduct, privacy practices, and consumer data policies of Meta Platforms and WhatsApp.
“Dissatisfied with the Order last year, Meta and WhatsApp appealed to the Tribunal, challenging both the legal basis and the findings of the Commission,” FCCPC said.
The Tribunal upheld the FCCPC’s authority and investigative procedures in Meta and WhatsApp’s appeal, resolving most of the contested issues in the Commission’s favour.
It confirmed that the FCCPC acted within its constitutional and statutory mandate, particularly regarding fair hearing, data protection, and consumer rights.
While it dismissed the majority of the appellants’ objections, it set aside one specific order (Order 7) for lacking sufficient legal basis.
While expressing satisfaction with the judgment, Tunji Bello, executive vice chairman/CEO, commended the Commission’s legal team for their exceptional diligence and forensic expertise in assembling evidence and presenting their case.
He reaffirmed the FCCPC’s unwavering commitment not only to protecting the rights of Nigerian consumers but also to promoting fair business practices in line with the FCCPA (2018) and the Renewed Hope Agenda of the Nigerian government.
Nigerian Exchange Limited (NGX), has made history with the listing of Legend Internet Service Plc as the first company in its Telecoms sector and the first company to be listed this year.
Legend’s N2 billion ordinary shares, with a par value of 50 kobo each, were listed at N5.64 per share.
Dr Umaru Kwairanga, chairman of NGX Group, who welcomed Legend’s board and management, commended the company for its successful listing on the Exchange
He highlighted that listing signifies an elevated commitment to corporate governance and provides opportunities to leverage the Exchange’s diverse asset classes for capital raising.
He stated, “As we celebrate this listing, with many more in the pipeline, I commend the management of Legend Internet Plc for this remarkable milestone.
“This bold step demonstrates confidence in your business model and growth vision.
It also marks the formal emergence of a broadband service as a distinct sub-sector on our Exchange.
Legend has evolved from a focused digital network provider to a diversified technology player, achieving significant advancements in broadband infrastructure development and data services.
We anticipate continued growth in the future.
“We are still bringing many companies on board the NGX, including Dangote, NNPC and others.
“As Africa’s leading exchange, NGX has consistently championed innovation, transparency and sustainable value creation through our investment in cutting-edge infrastructure and a comprehensive range of product offerings, spanning equities, bonds, ETFs and derivatives
Speaking at the Facts Behind the Listing Ceremony, Dr Ladi Bada, chairman, Legend emphasised that the company, as the first indigenous telecommunications company on NGX, has substantial value to offer the market.
Bada encouraged Nigerians to embrace the broadband industry, recognizing it as the fastest-growing sector globally.
He noted that the company had been instrumental in laying fiber optic cables connecting 250 homes in the Suleja and Abuja environs.
He expressed optimism that the Exchange would serve as a catalyst to replicate such commendable projects across other regions of Nigeria.
“We are here to create an enabling digital infrastructure to achieve the projected one-trillion dollar economy.
“On this special day, Legend Internet takes a bold step forward, not just for itself, but for the broader ecosystem of technology, infrastructure, and enterprise in Nigeria.
“As we begin this exciting new chapter as a publicly listed company, we do so with humility and boldness.
We remain committed to continuous innovation, expanding our reach, and delivering value to shareholders and society
“A listing on the Nigerian Exchange is more than a financial event. It is a signal and a declaration that a business is ready to be held to the highest standards of governance, performance, and public trust,” he said
Providing insights into the company’s development, Ms Aisha Abdulaziz, chief executive officer of Legend Internet Plc, stated that the company had evolved from an internet service provider to a comprehensive digital service provider.
Abdulaziz noted that with broadband penetration in Nigeria being less than one per cent, Legend Internet was strategically positioned to deepen access
She affirmed the company’s commitment to taking Nigeria’s digital economy to the next level
“When we started Legend, we weren’t just building an internet company; we were building a movement
A movement fueled by the belief that every Nigerian deserves access to premium, reliable, and high-speed internet, regardless of their location or occupation
“From late nights in our first office to laying fiber across Abuja, to launching products that made people’s lives easier and faster, our journey has always been about connections
“Connecting people to opportunities, connecting homes to entertainment, connecting Nigeria to the digital future it deserves. Our journey has always been about a better way to live.
“This listing is a symbol of our commitment to transparency, sustainable growth, and the kind of excellence that outlives hype.
“Legend’s primary focus now is on unlocking digital value at the household level,” she said.
Mr Jude Chiemeka, chief executive officer of NGX, congratulated the company for making the strategic decision to list.
Mr Chiemeka noted that Legend’s listing on NGX now brings the total number of listed securities to 322
Also, Mr Temi Popoola, chief executive officer of the Nigerian Exchange Group, encouraged the investing public to support the newly listed company.
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