Features of the Mambo Software SACCO Manager. This is comprehensive ERP software for SACCOs.
It comes with the following key features:
User Friendly Windows Interface:
Our products are developed on Windows platform, therefore they come with the familiar menus, icons and windows that are naive to windows applications. You get lists to choose from, search, view, edit, print and a lot of user friendly controls to make your work easier. Members Register: Registration of new members and a list of exisstng members detailing the members’ contact information, referees and the next-of-kin. This comes with an integrated document management system that allows attachment of scanned copies of IDs, photos and other required membership documents.
The system also allows ‘corporate membership’, where companies or groups can be registered under a group/employer name and the members will be identified under that group name. Loan Application: The loan application procedures come with different levels of login for creating the application, approving the application and disbursing funds of approved loans. When set up, the applications will be based on the existing loan products which can be set up with different terms of interest and durations as desired. The loan application module will check on pre-award requirements, eg, sufficient number and amount of guarantors, the applicant’s pay slip or bank statements, and use these to restrict the forwarding of the application to the next level until these are met. It enables viewing of pending, deferred, rejected and approved loans and allows notes for the actions taken.
This module also enables tracking of approved loans pending disbursement, so you can analyze your liquidity and avoid comming beyond your available funds/receipts. Cash Receipts: This being the most used module, it is a simple, yet comprehensive window for receiving all categories of payments from members, including savings, purchase of shares, loans and penalties payments and allows split of a single payment/cheque into these various categories of payments. The system also provides of options for payments modes and payments received in office pending banking and those that are banked directly by members. A bank deposits module allows the banking of office receipts to the desired accounts.
You can also import bulk payments, say from employers, who send payment instructions on behalf of their employees if you receive these in an Excel format. If any errors occur, the system allows corrections; but like with any other allowed changes to transactions in the system, that must be done with a higher login credential as a control mechanism. Loan Management: You can view at any time the performance of any member or loan from the time of disbursement and analyze your defaulters’ rate and projected incomes. Additional advance modules are available, eg, loan rescheduling, which allows you to vary the duration and top up or reduce by a lump sum payment of or the balance of a loan, and loan amalgamation, which allows you to
combine several loans given to a member into one loan, thus vary the amount, interest rates and duration, based on selected loan product, reminders for overdue loans and automatic application of penalties. These features allow you to manage the loans in a dynamic and flexible manner as members will normally request to vary their repayment terms and/or schedules from time to time.
Multiple Shares Options: SACCO Manager allows you to set up various investment options for your members so members can buy different types of shares in the companies, eg, purchase of land, property or investment clubs. This allows members to choose the type of investment they want to contribute to and will also allow you to track investments and dividend payouts from each set of investment. Dividends Management: An automated computation of dividends is integrated which will accurately compute the dividend payouts to members based on their shareholding of the various options. Once computed, the SACCO Manager provides options to either pay dividends directly to members or apply them, eg to loans, shares or savings of the members. Note that like with loan application approval, once a dividend payout is declared, the system will earmark this against the bank account from which the payment is intended so you are aware of what the current bank commitments are until the actual payments are made.
Transfer of Shares: members will also be free to purchase/sell/transfer shares and savings amongst themselves and with the SACCO in a flexible manner. This allows members who are existing to recoup their investments from existing members who want to own more without destabilizing the liquidity of the SACCO and also allows members to switch from one share investment to another without any problems. Integrated Accounting: Income from interests, penalties and other sources are automatically computed based on the terms of the loan product and lapsed durations, thus eliminating the need to manually compute and post these occurrences. The supplier’s module enables management of the SACCOs expenses like stationery, office rent & bills, thus allowing the generation of comprehensive Income & Expense Statements and Balance Sheets. Since tracking of funds into and out of bank is also a major component, the system provides capabilities to generate bank statements and to perform bank reconciliations or individual or multiple bank accounts.