SACCO Drive System Version 2.0 (Discontinued)
10-Dec-2013 - 01:19:07 pm
Summary
SACCO Drive System V2.0 System overview, recommendations, pricing
Development of the SACCO Drive Software project was discontinued in 2019 in favour of Sphere CRM/ERP.
INTRODUCTION
SACCO Drive System is a computer application designed to assist in the running of financial institutions such as Savings and Credit Cooperatives (SACCO’s), microfinance institutions, Table banking or investment groups, Chamas, Cooperative Unions, Housing Cooperatives, Credit and Lending organizations, community banks and retail banks.
The system is designed to be operated on any computer infrastructure and web capable devices such as smartphones and tablets. It has an online portal where institutions’ staff and clients can access accounts and other information with up to date records at anytime and anywhere.
The system is designed for high performance even with poor internet connections by utilizing caching mechanisms for data hence is efficient, reliable and fast even in places with poor network coverage.
It has integrated; real-time and comprehensive business intelligence and analytical features to help institution management and staff assess performance and monitor multiple aspects of the organization.
The implementation has been standardized to comply with best practices and procedures gained by multiple implementations in different organizations hence simplify operations of the institution.
The system incorporates savings, FOSA/current accounts, loans / credit / advances, fines /penalties.
FEATURES
1. Client information management:
• Basic client information.
• Information on next of kins.
• Arbitrary information such as nicknames etc.
• Identification/passport photographs.
• Signature specimen.
• Client financial portfolio (savings, FOSA, loans and loan repayments).
• Any additional notes for effective client relationship management.
2. Group management
• Basic group information.
• Group members’ management.
• Signature specimens of authorized group signatories.
• Group financial portfolio (savings, FOSA, loans and loan repayments).
3. Accounting functionality
• Tracking of cash inflows and outflows.
• Tracking of assets.
• Balancing and reconciling of accounts and financial records.
• Preparation of balance sheets.
4. Analysis and business intelligence
• Monitoring all activity and transactions in the organization.
• Automated reporting on loans, defaults, arrears, penalties and portfolios at risk.
5. Human Resource Management / Staff management
• Basic staff information.
• Information on next of kins.
• Arbitrary information such as nicknames etc.
• Identification/passport photographs.
• Signature specimen.
• Management of staff loans and repayments.
• Any additional notes.
• Payroll processing for staff.
6. Loans management
• Loan application, approval and disbursement.
• Securities (including photos) and guarantors’ information.
• Flexible creation and management of multiple loan products.
• Loan amortization.
7. Security and data integrity
• Data is effectively secured against deletion.
• Centralized management of permissions for all staff and users.
• Tracking all user input and activity in the system.
• Real time automated offsite data backups against hardware failures.
• Transmission data from the systems through the internet and cloud channels is secured to prevent tampering and man-in-the-middle-attacks.
8. Accessibility and ease of use
• SACCO Drive System is designed for ease of use and simplicity hence can be operated by any average computer user with minimal assistance. No cumbersome processes are required.
• It runs on computers and any web capable devices such as mobile phones and tablets.
• The system can be accessed at any time with an unlimited number of system users.
9. Collaboration
• SACCO Drive System is designed to encourage collaboration and real time exchange of client and transactional information over conventional internet connections between branches of the same organization or even between multiple institutions that have consented to share their information for decisions pertaining to credit-worthiness, assessment etc.
10. Operations
• SACCO Drive System reduces the operational costs of the institution by greatly elimination the need for stationery such as ledger books. All records are conveniently and securely stored in centralized locations for retrieval whenever needed.
• This also speeds up decision making processes as all the required information can be accessed with just a few clicks.
