The Chief Executive Officer of Taxaide Technologies Limited, Bidemi Olumide, has said that companies that build a strong data governance culture around technology are better positioned to gain and sustain a competitive advantage in today’s business environment.
Olumide made the assertion while speaking on technology-driven businesses, tax compliance and the growing role of financial technology in improving business efficiency.
He said technology-enabled companies benefit from greater speed, accuracy and strategic intelligence compared with businesses that continue to rely heavily on manual data-processing systems.
According to him, automation reduces delays between business transactions and decision-making, while also minimising errors and helping organisations identify patterns, risks and opportunities that may be difficult to detect manually.
He noted that leading Nigerian companies are increasingly deploying real-time analytics, API integrations and artificial intelligence tools to monitor cash flow, tax exposure and regulatory obligations.
Olumide said AI-assisted systems are also helping businesses identify potential compliance risks before they develop into costly penalties, while automation allows professionals to focus more on strategic and advisory responsibilities.
However, he stressed that technology alone was not enough to guarantee long-term success.
“What truly distinguishes the leaders, though, is not just the tools they have adopted; it is the data governance culture they have built around those tools,” he said.
The Taxtech boss also described digital security as a strategic asset rather than merely an operational cost, warning that data breaches could damage customer trust and a company’s regulatory standing.
He urged businesses to treat data security as a board-level responsibility, particularly because companies in the financial, tax and professional services sectors often handle sensitive third-party information.
On artificial intelligence, Olumide said the technology presents both significant opportunities and emerging risks, including fraud, data manipulation, social engineering and over-reliance on automated systems.
He advised business leaders to establish appropriate governance frameworks before scaling AI adoption and to maintain human oversight over AI-generated outputs.
Olumide further called on the Nigerian Government to strengthen data infrastructure, cybersecurity regulation and technology talent development to enable local businesses to compete more effectively in the global digital economy.
He said investment in broadband connectivity, cloud infrastructure, data protection and skills development would be critical to positioning Nigerian companies for sustained enterprise technology growth.
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