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Enterprise Integrated SACCO & Microfinance Software

About SAVCO® Sacco & Microfinance Software:

SAVCO® is a group of Windows® based software products that are used by SACCOs, Credit Finance and Micro Finance Institutions.

Savco® is a perfect intuitive user-friendly enterprise solution for Micro-finance and SACCO operating under simpler & complex finance environment that lets you manage all activities of FOSA & BOSA with ease and confidence.

In general SAVCO® has computerized:

  • Membership and Customer registers
  • Remittance, Savings & Member Shares Management
  • Loan Management
  • Front Office (Banking) Customer Service
  • Fixed Deposits, Standing Orders and Teller Services
  • Business Activities module
  • Member Specific Reporting and Standard Reporting
  • ATMs services – SAVCO® Cards
  • SMS Services – Pepe SMS
  • Automated Services – SAVCO® Live
  • Ledger Accounting
  • Budget Accounting
  • Data Imports and Exports from Microsoft Excel or text files
  • Un-Limited User Customization

SAVCO® is a real time integrated system which means that loans, shares, statements, income and expenses and all accounting are updated immediately. You get your results immediately not at any period end.

SAVCO® is easy to use and very customizable such that all your requirements will be easily met.

SAVCO® Features

SAVCO® has the following key features highlights

Membership & Customer Registers

  • Captures all legal and statistical details.
  • Captures next of kin details
  • Captures all other references e.g. property documents, title deeds with no limit to what you would require the customer to represent.
  • Captures passport photos and signatures.
  • Allows you to include advisory, instructions or any notes to a member or customer.
  • Can block, black list or restrict members and customers
  • Products Management - Loans, Shares and Savings
  • Gives standard controls and parameters to define products.
  • Allows you to create your own controls.
  • Allows you to define unlimited product types.
  • Allows you to design products the way you want including interest rates, maximum and minimum amounts, standard insurances and other commissions and charges.

Loan Management & Dividends/Interest Workbench

  • Loan can be sent to FOSA (banking) directly on approval.
  • Loans can be serviced by Savings (FOSA) automatically.
  • Members can have several concurrent active loans each with different completion periods.
  • Automatic dividend calculations and transfers to member’s shares or loans.
  • Saving interest are calculated as advised based on user selectable methods and are transferred to customer accounts directly.

Has varied loan products with very flexible repayment periods;

  • Monthly Loans
  • Quartery Loans
  • Weekly Loans -Scheduled Loans
  • Bi-Weekly Loans -Schedules Loans
  • Daily Loans with elaborate repayments & daily penalties

All Loan and shares products are user configurable with numerous parameters, keywords and standards that brings the exact solution that fits you. You can even design your own commissions and charges and apply them to loans.

Front Office (Banking) Customer Service

Includes all teller activities defined in the system:

  • Customers Deposits/Savings : Cash & Cheque deposits
  • Customer Cash Withdrawals
  • Cheque Clearance & charges
  • Cashier Cash Controls (Controlled cashier activities & balances)
  • Fixed Deposits
  • Standing Orders
  • Account Funds Transfers
  • Business Activities Transactions & Revaluations
  • Saving Interest management
  • Over-draft servies & charges
  • and many other services as defined in the system

Business Activities

  • It has product buying, reselling and revaluation for customers.
  • It is customized for customers specific need like appendages that can automatically read from weighing machines or scanners for automatic data entry for customers produce buying e.g milk weighing for dairy farmers sacco, Tea weighing for Tea Farmers sacco etc
  • Customers may supply additional specifications they require and if they are not already there, they are developed and tested and then included

Ledger Accounting & Budget Control

SAVCO® accounting is flexible and allows you to structure your own chart of accounts by giving broad blocks on which to build on. A template chart of accounts is provided to give you a good start. Available functionalities handle all aspects of financial accounting, budgeting, reporting, consolidation and transaction processing with the appropriate internal controls.

SAVCO® Reporting

  • Produces statements for members and customers that can be printed or saved as word excel web pages and acrobat files to be sent via e-mail.
  • Allows you online inquiries on balances, history and statements.
  • Gives loan loan/share statements that can have your logos implemented.
  • Allows special reports to print slips on special printers like the 60 0r 80 mm roll printers.

SAVCO® comes with standard reports and queries and users can add more or request more from service providers.

SAVCO® runs report files produced using Crystal Report Writer and does not have hard coded reports within it which mean that all reports are independent files that can be customised for the users or by the users themselves. There is a selection of rich standard reports that are deployed by the system. Users can add own reports to the list if they have report writing knowledge of Crystal Reports. Additional reports can be sent to users on request.

Outputs from reports can be printed or saved as :

  • Microsoft Word
  • Rich Texts
  • WEB Pages
  • Microsoft Excel
  • Acrobat portable documents
  • Send by Mail

For example the system automatically generates member statement on any of the above format such that users can be sent statements as mail attachment and thus saving on paper.