Solution Overview

Adaptable MIS solution that provides efficiency in business processes, risks mitigation and operational control.

Solution impact on microfinance industry

For many years, microfinance industry has been attracting more and more attention of the general public, development agencies, investors, donors, policy makers and other stakeholders. In the past 20 years the industry grew rapidly, in terms of number of new clients outreach and loan portfolio.

Many MFIs that started as a small microfinance project grew very fast taking advantage of the huge market potential, reaching poor population that doesn’t have an access to finance from other financial institutions. ASPEKT identified cases where MFIs with excellent performance and development had experienced business downturns, failures, frauds and other crisis which deserves special attention and analysis. In most of the cases the main reason behind these scenarios was lack of adequate, reliable and quality MIS, including internal control systems.

The lack of quality data processing, monitoring and control over the business growth has created an unrealistic picture about MFI’s performance and financial stability. In addition, due to the poor MIS, the vulnerability of MFIs on frauds and sudden credit defaults became very high, to the extent that it can drastically affect MFI’s existence and industry reputation.

Applying a strong and reliable MIS for growth-oriented microfinance institutions is a key to successful and sustainable development. It’s a long term investment and requires systematic analyses and approach. The purpose of quality MIS is to provide efficiency in the business process, mitigate risk management and operation control. It’s the second most valuable asset (after the personnel) that leads MFI in achieving its social mission in a sustainable and efficient way.

The above-mentioned assumption and facts are the basis of Aspekt Microfinance Software, which considers the main needs and requirements of MFI management and front staff, anticipates the dynamic and diverse business operations of MFIs worldwide.

The software is designed and structured to meet different MFIs needs, understanding that MFIs differs from banks and other financial institutions, in a way that social and impact data on their clients are as important as financial records.

Aspekt Microfinance Software is developed on the basis of 4 main objectives:

  • Integrating all business processes into one system

  • Advanced controlling mechanisms to minimize the risks of errors and frauds

  • Excellence in responsiveness and post-implementation support to meet future client demands

  • Flexible reporting and data collection platform to meet MFI requirements and quality support to the management decision-making processes

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