The employee Sacco sector in the Kenyan corporate has been in existence for sometime now. These aim at taking care of the employees welfare by providing financial support. In these Saccos, employees have a friendly institution where they can make savings and take up loans for self development.
Every Sacco needs an efficient management system to run its operations smoothly. Discussed are some of the management systems that employees’ Saccos can consider for efficiency.
LoanDisk is a cloud-based loan servicing software. The software automates the entire loan process from origination to debt recovery. In addition, it has also been designed to manage member savings accounts as well as generate necessary reports.
Its modules include; loans, savings, expenses and payroll reports among others. These are suitable for the running of daily operations in an employee SACCO.
Jisort Cloud System is a comprehensive easy to use, cloud-based loan servicing software. The modules present make it convenient to use for Saccos especially employees’ Saccos. These modules include Loans, Deposit and Savings, Shares, Reports among others.
The software is compatible with 3rd party platforms such as mobile money and other payment gateways. Thus, it is friendly for both the Sacco and it’s members.
This is a management system with modules that make it possible for Saccos to manage their operations. With this Sacco ERP, Saccos are able; to process and disburse loans, manage Savings accounts; asset management as well as generate various financial reports.
The system is flexible and can be integrated to suit the needs of the SACCO. It is web based hence can be hosted on cloud or premise depending on the SACCOs preference.
Lastly, loanLedger. LoanLedger is a cloud-based loan servicing software for enterprises of all sizes. Allows an organization to manage the loan servicing process form application to payoff. It is suitable for financial, mortgage firms as well as private lenders and credit unions.
An employees’ Sacco tends to focus on loans and savings. The features present in this software make it suitable for an employees’ Sacco. This include; debt collection, accounting management, construction loan servicing, automatic fund distribution and reporting. Other features include logs, audit trails, multiple interest-calculation options.
More people in both the formal and informal employment are joining Saccos . Therefore, it is important for the Saccos to offer quality services. This starts with a suitable management system.