Published: Friday, May 24, 2013

Microfin360

A complete business solution

A complete business solutionDataSoft Systems Bangladesh Limited, an ICT solution provider of the country, recently held a view exchange session with its clients on its Microfin360 (Micro-Finance Management Software).
At the event participants shared their views on the software.
The Microfin360 is a micro-finance management software specially developed for the microfinance institutes, NGOs and cooperative societies to automate their work-flow.
M Manjur Mahmud, director and chief operating officer of Datasoft said the software has been designed and developed as a standard procedure of Microcredit Regulatory Authority (MRA) and Palli Karma-Sahayak Foundation (PKSF) compliance solution having rich set of features, hundreds of parameterised reports, management statistical dashboard and centralised monitoring and operation facility.
“The software features integrated management information system, accounting information system and human resource  modules. It is a core microcredit web based solution,” he said.
He also said the software provides low cost financial services in rural areas. It has the potential to address the issues of outreach and credit delivery in rural areas in a cost-effective manner.
It has functions like disbursement of loans, savings, application processing. With the software, maintaining accounts can be made easy as this technology helps reduce transaction costs and time and increase efficiency.
“It helps to outreach the distant population where they have limited banking services.”

Mahmud said Microfin360 Services was developed in 2007 and as a continuous process Microfin360 Services releases a new version every year. The current version of Microfin360 Services is R13.

“Currently 29 microfinance institutes are using the software at their 989 branches,” he said.

He said that Mirofin360 license fee costs about Tk 40,000 -Tk 50,000 per branch.
Datasoft also offers both on and off-site training to educate the clients on solution with standard training materials.
“FAQ, Online training manual are also embedded with application to help our clients a way out whenever they face problems.”
Datasoft also provides 24x 7 supports with dedicate software, over the phone, email and Skype.

“Microfin360 makes sure that clients get support on anything they need, whenever they need,” he said.
“We want to serve the major part of Bangladeshi microfinance institutes and their beneficiaries with our software. We have plans for going global immediately. For this purpose we have already added multilingual option. We want to become a shining beacon in microfinance revolution.”