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Micro-Finance is the special service offered by most microfinance institutions. Provide financial services, such as small loans, savings and insurance for small business owners. Commercial banks do not offer these services; MFIs and microfinance banks are developed for this purpose. MFIs, like nonprofits, help set up accounts, money transfers and loans for small business owners, and also meet the variety of needs such as death, illness, loss or property. MFIs and microfinance banks have a large number of clients and need an organized set of workflows or tools to manage their services, which makes their services more productive. Micro-finance ERP software in Romania is a complete set of solutions that has all the microfinance functionalities in it. Micro-Finance ERP software offers scalability, productivity and agility for modern MFIs. It integrates all the functions and roles executed in the MFIs.
The implementation of Micro-Finance ERP in MFIs can help achieve the company’s objectives such as:
- Improve the quality of life of poor people
- Maintain communities for the financial institution
- Mobilize different resources to facilitate access for poor people
- Learn to get people out of poverty faster
- Create opportunities for self-employment
Micro-Finance ERP functions:
Erpisto ERP Software in Romania covers all the modern technological aspects that MFIs should highlight. The power of cloud computing increases productivity and business efficiency. The use of new technologies and Business Intelligence Solutions in Romania with microfinance industry simplifies the daily operations of the MFIs. The useful functions of Micro-Finance ERP are described below:
- Provides flexibility in the amount and collection of processing fees
- Generate alerts when the data comes from the database
- The use of loan checks is made and recorded at the time of loan capture.
- Maintain the history of each data item
- Initialize audits of different branches and register audit processes and accounts
- It improves the management of giving insurance to clients and spouses of all those captured in the system
- The ERP structure is designed to monitor all activities through the use of the cloud.