Product Innovation

ASPEKT dedicated its efforts to development of a solution that will enable microfinance institutions to better organize gathered data, use it properly to speed up the decision-making process, improve corporate efficiency and unify external reporting. Namely, ASPEKT embarked on developing a product that will close all the gaps that the competitive products currently present on the market could not manage to achieve.

ASPEKT’s goal was to provide solution that will offer processing of up to date data presented in a structured form for easy navigation that will be beneficial for the microfinance institutions.

I: The first product version was created not long after the company restructuring in 2007. The solution, developed on modular architecture, using Microsoft Visual Basic Framework 1.1, consisted of modules that covered complete loan tracking processes, integrated with the accounting system for automatic transaction matching and back office modules that supported additional corporate activities, as administration of fixed assets, administration of invoices within purchase module and management of human resources and payroll.

The solution functionalities were upgraded with collaboration tools, Integrated Task & Messaging Platform, Document Compliance Platform and advanced tools for Dynamic Collection of Data in accordance with client business requirements.

Positive changes were noticed by several clients ASPEKT implemented this product version for. This motivated the team, to proceed with upgrading the solution features and continue the trend of improving client’s operations in the second product version.

II: The second product version was developed couple of years after the initial. The existing functionalities were improved and brought to a higher quality level, presented from new perspective and a lot of new features were added.

Dynamic Report Generator was presented with this product version. This tool helped microfinance institutions in being proactive in report definition possibilities and create real-time reports, independently from ASPEKT, directly from user side.

ASPEKT managed to integrate microfinance trend of measuring the effect their daily operations had on the overall business, by supporting implementation of MFI’s specific missions with Social Performance & Impact Management Module.

Besides, all clients were able to create credit scoring cards, dynamically from user side and quantify the creditworthiness of individual borrowers with automatic calculation procedures based on predefined field values, all in the Credit Scoring Module.

MFIs received the possibility to monitor their financials and create periodic budgets inside the solution, within the Budgeting Module.

III: ASPEKT delivered version three, developed on Microsoft Visual Basic Framework 4.0, using 4.0 Janus system components that enable end users directly communicate with external files, like word, enabling clients define their own print templates dynamically and Excel files to directly load structured Excel into the solution.

With Aspekt Microfinance Software 3.0, the entire platform architecture is migrated to a more sophisticated infrastructure for easier and more flexible administration of the solution and in order to bring all clients faster to market.

The solution is developed as highly dynamic and available for independent functioning from vendor side, as never before. End users experience revolutionary changes in their operations and improve their internal processes to excellence.

clients say
  • "It's an outstanding system. Having a full overview and control over the branch operations in due time is a huge advantage when corrective actions should take place. Before ASPEKT, it was difficult and lot of effort was invested, to analyze the performance and make conclusions that will lead to improving business processes." - Credit Director
  • "Before ASPEKT, I had to remember all loan conditions, criteria and other rules and I was continuously under pressure not to make any errors. I felt a huge relief when ASPEKT system was introduced, everything is now predefined: amount limitations, interest rates, provisions, etc., even the loan contract templates are automatically generated so no additional double-checking is needed." - Loan Officer
  • "With Aspekt Microfinance Software, we have complete control over the corporate portfolio. Our active portfolio is monitored accurately and we are able to make future assumptions based on historic data, making precise risk assessment." - Risk Manager
  • "Aspekt Microfinance Software helped me better manage my time. When I start in the morning, I can make a quick review for: status of open loan applications, loan disbursements, clients with payments due for the day, new loan in arrears, portfolio outstanding, etc. Everything can be found from one location, so I can efficiently prioritize daily tasks and coordinate other activities with my colleagues." - Loan Officer
  • "Administering one system, from one central location saved time, improved the control and security mechanisms of our IT Department. I’m more than glad to recommend this highly flexible solution to other companies." - System Administrator
  • "With the integrated functionalities and controlling procedures in Aspekt Microfinance Software, we could easily locate a breach of procedures and prevent frauds. The solution is adjusted to detect errors and inappropriate transactions." - Risk Manager
  • "Before ASPEKT, I couldn't monitor neither review my performance. I waited for my Branch Manager to receive reports from head office, to find out about exact number and amount of outstanding loans, PAR and delinquency, drop-outs etc. Now with Aspekt Microfinance Software, I can even predict my performance in near future." - Loan Officer
  • "Before ASPEKT, the field audit in a single branch could last for 4-5 days. Now, with ASPEKT I can do most of the preparation work in my office and be more efficient on the field." - Internal Audit
  • "I can't imagine that all client's information and records are at one place. Before ASPEKT it was extremely difficult to check the credit history of returned clients, and we could make mistakes and approve loans even to rejected clients. With ASPEKT we can also review the repayment history of clients coming from other branches." - Loan Officer
  • "Before ASPEKT, we didn't have reliable information to assess performance. We were overburden with forms and excel spreadsheets and no information on how other branches perform." - Branch Manager
  • "With Aspekt Microfinance Software we can efficiently and accurately control all cash transactions. Borrower's cash receipts are printed from the system only when payment transactions are entered by Loan Officers. This prevents from handing over the cash outside of branches." - Internal Audit
  • "I'm happy now that Loan Officers I'm supervising can spend much more time on a field with clients. Before ASPEKT, the manual administrative work occupied so much of their time so that they were unable to recruit new borrowers and reach the projected growth." - Branch Manager
  • "Once ASPEKT was introduced, our efficiency increased, allowing our MFI to grow by 50% with current human resources. Aspekt Microfinance Software contributes on replacing the manual and routine tasks, so that staff can spent more time on innovations and development." - CEO
  • "ASPEKT is not just a simple loan tracking software. I used to travel in every branch once per month to monitor and appraise each branch performance. Now, I can monitor the progress and identify weaknesses from distance." - Credit Director
  • "With this vendor, we didn’t receive just a system sophisticated to be administered independently from the vendor, we also got entire team that supports us in any situation and is more than happy to help us continuously improve our operations." - System Administrator
  • "Aspekt Microfinance Software as one integrated solution offers full coverage of MFI's business process. It's an excellent management tool that improves decision-making processes. The flexibility and adoptability perfectly match the dynamic environment in which our MFI operates." - CEO
  • "With the centralization of the data we got smart system that streamlines all financial activities we perform on a daily basis. Payment transactions are automatically posted in general ledger and our department is able to perform complex financial analysis, using customized financial reports." - Accounting Officer
  • "Aspekt Microfinance Software is very flexible and managed to fully incorporate our internal risk management policies and procedures. I can generate customized reports on clients and loan portfolio and closely monitor and analyze the credit risk before and after disbursements. The information from the system is the baseline for any improvements on risk policies and procedures I have recommended." - Risk Manager