Sacco Management System

GENERAL FEATURES OF OUR SACCO SOLUTION

The system covers all stages of a loan cycle
for groups and individuals, automates credit approvals, and custom reporting for both financial and
administration requirements.
The solution is intended to provide our customers with the ability to reduce operational costs, make
them more efficient and increase productivity. Its open ended and scalable architecture enables it to be
tailored according to your unique requirements with user friendly interfaces.
The system has got powerful features to take care of all dynamics involved in running and management
of a Micro-Finance/ Sacco. Some of the major functionalities available include the following:
 Registration of customers/members.
 Loan application and approvals can be done online.
 Members can be notified of the loan approval status via SMS and E-mail.
 Members can check their loans status online.
 The system can be integrated to Mobile money transactions like MPESA and Airtel Money.
 Integration to the bank for ease of reconciliation.
 Automatic notification of loan defaulters.
 Automatic calculation of dividends based on share contribution.
 Automatic generation Financial Statements with Notes and schedules.
o Trial Balance.
o Statement of Comprehensive Income.
o Statement of Financial Position.
o Statement of changes in Equity.
o Statement of cash flows.
o General Ledger.

MULTI-LOCATION
The system can be deployed in a multi-locational setup thus providing the power of cloud enterprise
management visibility where you can be able to view performance of the MICRO-FINANCE/ SACCO
from anywhere, at any time. No local servers, no extended learning curve, and ease of implementation
add to our feature-rich system which is highly customizable, configurable, and scalable.
ONE SOLUTION WILL DO IT ALL
We have ONE INTEGRATED SYSTEM to do it all which eliminates the need for multiple software
solutions within your MICRO-FINANCE/ SACCO. There is no need for any 3rd party applications. Our
integrated approach connects all components within the MICRO-FINANCE/ SACCO to increase
operational efficiency, reduce overhead, and automate manual tasks. It combines all the functions into a
single easy-to-use system that will give you the desired results. We have worked in a variety of
operational environments where we have offered a seamless integration of all functional components
especially in schools.
MOBILE PAYMENT INTEGRATION
This important feature allows seamless integration of mobile payments to member accounts in real-time
without any human intervention. Similarly, the service allows automatic uploading of electronic bank
statement to streamline bank reconciliation. This feature also replaces the previous method where the
accountant would download the bank statement and manually tick against the transaction during bank
reconciliation.

MODULES COVERED
The system comes with a portfolio of modules as described below.
1. CUSTOMER MANAGEMENT
This module will capture the details that fulfill the process of onboarding a customer into the system.
Each customer will have a unique account associated with him/her. You can retrieve customers in the
sby name or account number. The system shows the customer status, customer applications, Active
customer, dormant customer, and terminated customers among others. The system tracks all
information about customer – personal information, accounts (loans, savings) as well as guarantors.
2. LOAN MANAGEMENT
The Loan Management Module Supports key activities and requirements of the Loan Management
process as follows:
 Loan product Information
 Loan Application and Approvals
 Flexible interest calculation with support for various methods of interest calculation – Flat
interest rate, Reducing Balance.
 Member loan award management – information about loans award amounts, guarantor
information, loan repayment history, interest accrued etc. Several loan accounts belonging to
the same customer are automatically linked.
 All activities for handling a running loan can be handled – disbursements and repayments, penalty
fees (for late repayments), calculating interest on loans.
 It has the administrative facility to carry out suspension on penalty fees, rescheduling loan
repayment periods etc.
 Automatic alerts for overdue loan accounts
 Notification of due dates
 Can be integrated to payroll manager
This module fully integrates with the General Ledger so all changes are immediately captured in the
GL.

3.SAVINGS
The Savings module is fully integrated with General Ledger and Customers Module, and all changes are
reflected immediately in GL
 Tracking is possible for beneficiaries in case of death or incapacitation of a member.
 Transfers can be made between accounts of the same customer or different customers.
 It handles various savings types: eg. Ordinary savings accounts, shares accounts, Group savings
accounts, including information about amount saved by each group member.
 Set withdrawal limits (for savings accounts)
 Apply penalties for premature withdrawals
 Share dividends calculations – based either on interest rate, or profit figure for the year
(distributed between members).
4. FINANCE AND ACCOUNTS MANAGEMENT
This module will provide you with the ability to know how and where you spend, as well as where and
how you earn your income. This puts you in charge of monitoring cash flow and controlling costs. The
following key functionalities are provided in this module.
 Ability to track different revenue streams like interest, application, penalties and processing fees
among others as may be preferred.
 Ability to manage expenses.
 Ability to manage your accounts payable and accounts receivable.
 Ability to manage your cash and bank accounts.
 Ability to generate consolidated financial reports such as
o Profit and Loss account
o Statement of financial position
o Statement of cash flows
o Statement of changes in equity
o Lead schedules

5. DIVIDENDS MANAGEMENT
Our Dividends Management module will make your dividend and portfolio tracking so much simpler. It
allows you to manage one or many parameters in relation to Automatic dividend calculations including
eligibility, rate among others. The following are the key features in this module.
 Automatic calculation of dividend payments based on the share contribution.
 Customizable to determine dividend criteria
 Detailed Dividend History
 Dividend Pay rate history
 Dividends Register
6. CUSTOMER RELATIONS
It helps you track and resolve customer issues quickly, thereby delivering superior customer support
and taking customer satisfaction to the next level.
Key Features
 Complaints Management
 Claims Management
 Loan Service Remainder Updates
 Send of e-mails/ SMSs to customers for important information
7.ONLINE PLATFORM
This is a secure web-based self-service portal that is accessible only to your customers and payroll
managers. Each group is given access rights. With this module,
 Prospective customers can apply online.
 Customers can apply for loans online.
 Customers can check on their loan status online at their convenience.
 Approval of loans can be done online.
 Payroll Managers can verify/ certify the authenticity of the information provided by customers.
 Customers can receive notifications as may be required.
8.SMS INTEGRATION
This is an SMS API that meant to improve efficiency in communication with customers. This module
provides possibilities that include:
 Alerts and Notifications
 Marketing campaigns
 Sending reminders and appointments
 Customer enquiries
 Automated monitoring of customer behaviors.