FP&A customers to benefit from the combined strength of the two businesses
Cape Town, South Africa – 5 July 2022 - IDU Holdings, the financial planning and analysis software company, has grown its customer base by 25% after its merger with IDU KZN, previously an independent business partner. The deal brings IDU KZN’s team and customers, located in Lesotho; Mauritius; KwaZulu-Natal, South Africa; Tanzania; Zambia; and Zimbabwe under the IDU umbrella.
Customers will benefit from access to IDU’s extensive support capabilities, and depth and breadth of specialist knowledge about its flagship product, idu-Concept. The merger sets IDU up for the next stage of its growth, by consolidating its footprint and building more alignment and standardisation across the organisation and its customer base.
Margie Whitten, previously director and owner of IDU KZN, which she founded 14 years ago, and Standard Bank KZN Top Businesswomen for 2019, joins the IDU Holdings management team in a senior group sales role, with a focus on driving growth across the African region. The merger was completed on 1 June 2022.
“Budgeting and reporting are probably the two most dreaded activities for financial and non-financial managers to carry out. But with idu-Concept, we can really make a difference for our customers and make these painful, but critical, tasks quicker, easier, and more accurate. And our customers see a difference in their businesses quickly,” said Whitten, IDU CRO (Africa). “Further, the development work that the team has done over the past two years means that I have yet to see a requirement from a customer, in any industry, that we can’t accommodate.”
“This merger gives us the opportunity to sharpen our focus and extend our game around the world, and specifically in Africa, our local market,” said Kevin Phillips, CEO of IDU. “The last two years have been tough for everyone, but we were able to take the opportunity to finetune our product and processes, to take advantage of the opportunities that are certainly, out there in the market, and the growth that will surely follow.”
IDU was created in 1997 by accountants and financial systems specialists to deliver smart software solutions for budgeting and financial reporting across all standard ERP and financial systems. The flagship product, idu-Concept, is specifically designed to simplify and speed up financial management with budgeting, forecasting & reporting tools that are accessible to non-financial managers.