Process centralization & increased productivity



This CLIENT is registered as Financial Development Company, with operations initially established in 2009 and since then succeeded to become one of the biggest microfinance institutions in the country of origin, helping the development of the local economy, by supporting SMEs and micro-businesses with initial investment and financial help.

At the beginning, the CLIENT used to work on two different systems, the Loan Tracking System on one side, meeting more banking than microfinance needs and Accounting System developed by local vendor, on other side.

During the time the CLIENT used those systems, the employees experienced a lot of difficulties in the everyday activities as a result of the decentralization of data, double entries and many other disadvantages. That is why the Management Board decided to invest in new integrated solution, which will directly address all CLIENT’s problems.


After almost two years of using of the two software solutions in everyday work activities the CLIENT started increasingly experiencing difficulties that could not be bridged and tolerate any longer. So the Management Board made a decision to find reliable software provider with adequate knowledge in regional regulative and microfinance industry but at the same time with flexibility to accommodate to their specific work procedures and schedules, which usually some vendors could not afford.

The CLIENT took into consideration ASPEKT’s previous experience in similar implementations where decentralized systems were integrated into one solution, the specialization of the solution for the microfinance industry and the benefits that were created for the users, into delivering final decision on vendor’s choice.


ASPEKT approached the CLIENT with a very high professionalism and particular attention to the existing situation. After reviewing the legacy systems and the drawbacks that the CLIENT had, ASPEKT directly addressed all inconveniences the CLIENT had and added even more valuable functionalities in order to ease and improve everyday work activities.

As a result of many problems the CLIENT had with the previous systems, both the CLIENT and ASPEKT made detailed business analyses, during which all corporate business processes were mapped, the current functioning of the existing systems was analyzed and ASPEKT was able to prepare proper gap analyses and develop a plan of how to overcame obstacles with the new solution.

ASPEKT managed to deal with the following issues:

  • ASPEKT understood the particular regulatory requirements and was able to integrate CLIENT’s specific calculations and formulas in the solution.

  • The complete reporting requirements were developed according to client standards prescribed by National Bank.

  • All business processes were centralized in one solution and were connected in one integral workflow, which eliminated double entries.

The CLIENT received one solution that truly understands not only existing corporate needs, but it is able to support new features in future long time after the initial implementation.


Today, after years of using Aspekt Microfinance Software, the CLIENT is satisfied with the outcome of the implementation and achieved results. The CLIENT managed to centralize all operations and streamline all work processes, so that directly affect employee productivity on individual level. The solution had major impact on process-flow automation, data integration and real-time reporting.

Loan Officers use their time more effectively, as they enter data on one place and are able to access corresponding data within the entire solution. Due to that, the work of the Accounting Officers is streamlined as well. The automatic posting and matching of payments improved the accounting procedures and offered one stabile system with accurate payment plans for every borrower.

Sustainable corporate growth strategy is mainly due to the flexible architecture of the solution, supporting possibilities for fast implementation of changes in product policy, dynamic definition of reports generation for more precise and real-time portfolio analyses.

The CLIENT is able to make historic analyses and to compare data in different reports as the entire loan portfolio is migrated from the previous systems into the Aspekt Microfinance Software. The CLIENT also managed to optimize human resources needed for everyday work activities and to optimize the number of Accounting Officers for more than 70%. Now, employees manage to finish more valuable work faster and under lower operational costs.

The CLIENT found a long-term partner in ASPEKT, one on which can rely and be confident to support all future requests, by staying up-to-date with the industry and technology developments.

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