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Microfinance - information is often available to management...

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Microfinance Mifos is an industry wide institute to address the microfinance industry’s information challenge. In this paper a description of what the software offers will be addressed. Also, the components of the mifos databases will be identified. Open source software and Saas are emerging as the key management information systems (MIS). Softwares for MFI’s according to Craig Chelius from the Grameen Technology Center (GTC). These products he argues, can offer MFI’s fully customizable, secure software that they can own without the need to pay expensive licensing fee. MIS are the systems MFI’s use to report and track financial information. It is here that loan officer’s record money given to check for loans services as well as cash received payments. This
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Unformatted text preview: information is often available to management and the back office for accounting and compliance purposes. There exist a number of off-the-shelf MIS (Management Information Systems) available today, however just half of all microfinance institutions around the world have implemented automated systems 2 . The rest are still using Excel-based or manual systems to manage their portfolio and client information, severely hindering their efficiency and capacity to support growing numbers of clients. Those that do invest in technology spend duplicative resources on custom-built systems that are extremely costly and difficult to maintain...
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