Artoo - Ujjivan Pilot Results


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Artoo is a technology provider that wishes to catalyze development through inclusive technology. We want to do everything we can to bring the digital revolution to those at the bottom of the pyramid. Our first product, Artoo Slate, is a solution for the microfinance industry. We believe it has the potential to help MFIs become more productive in helping their customers rise out of poverty.

We have just completed a pilot (funded by Ujjivan Financial Services and the Lok Capital Foundation) with Ujjivan, one of India’s fastest growing MFIs, and are delighted to share our results with you here: Artoo Slate enabled a 35% increase in productivity, reduced the turn-around-time for loans to 2 days, promises Ujjivan an annual benefit of INR 74.4 crores (USD 15.8 million), and a 2.44% reduction in the Operating Expense Ratio (OER).

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Artoo - Ujjivan Pilot Results

  1. 1. Artoo  |    Apr,  2011    
  2. 2. Money is a volatile commodity at the bottom of the pyramid. MFI customers are less concerned about interestrates and more eager to ask: “How quickly can you give me my loan money?” Paper based applications not 2only increase turn-around-times but also create an information delay that can negatively affect the business.
  3. 3. MFIs and Banking Correspondents (BCs) who work at the bottom of the pyramid find the processresource intensive. If much of the money from MFIs’ interest rates is used to cover operating expenses,wouldn’t tackling costs, as opposed to profits, prove the most efficient way to lower interest rates and still 3remain reasonably profitable? And also be the best way for BCs to scale?
  4. 4. How do field agents like Pushpa cope with the increase in business requirements (diversificationof products, increased expectation to train customers) given that their own education and 4technology backgrounds are not very different to those of the customers they serve?
  5. 5. Artoo Slate is a software solution that takes all field processes (customer acquisition,management, development, collections, etc.) online. Thus it enables field agents to be more 5productive (acquire more customers) and engage more effectively with their customers as well.
  6. 6. Our mission is to help you become moreproductive in helping your customers rise out of poverty.
  7. 7. artoo slate !"#$%&!""#$%&()* +%&#&,#-.*/(,012.*3(12*-4-%5-* !"#$%&#!"#$%&#! !"#$%&(!"#$%&()()*+,%-./0#1!23*(%4$#1!56+7(&4$#!! *$+,-./)0(%12&3./))4%.2)5(6#7$%&() 7
  8. 8. Artoo Slate can run on any android device so enterprises can choose whatever hardware (INR 5,500+) bestmeets their needs. Android devices are becoming increasingly common and are easily available at most 8electronic stores throughout the country.
  9. 9. pilotFunded  by  Ujjivan  &  Lok  Capital  FoundaBon 9
  10. 10. pilot Funded  by  Ujjivan  &  Lok  Capital  FoundaBon• 35%  increase  in  producBvity 9
  11. 11. pilot Funded  by  Ujjivan  &  Lok  Capital  FoundaBon See this video to get a sense of our Technology Tweaks• 35%  increase  in  producBvity 9
  12. 12. pilot Funded  by  Ujjivan  &  Lok  Capital  FoundaBon• 35%  increase  in  producBvity• Loan  TAT:  2  days 9
  13. 13. pilot Funded  by  Ujjivan  &  Lok  Capital  FoundaBon• 35%  increase  in  producBvity Without compromising on the due diligence. Now, even field credit checks are possible• Loan  TAT:  2  days 9
  14. 14. pilot Funded  by  Ujjivan  &  Lok  Capital  FoundaBon• 35%  increase  in  producBvity• Loan  TAT:  2  days• INR  74.4  crores  savings  annually (aJer  reducing  costs  for  devices,  internet  &  Artoo) 9
  15. 15. pilot Funded  by  Ujjivan  &  Lok  Capital  FoundaBon• 35%  increase  in  producBvity By taking field processes online, we can reduce paper• Loan  TAT:  2  days and increase efficiency at all levels while mitigating risk to the business.• INR  74.4  crores  savings  annually (aJer  reducing  costs  for  devices,  internet  &  Artoo) 9
  16. 16. pilot Funded  by  Ujjivan  &  Lok  Capital  FoundaBon• 35%  increase  in  producBvity• Loan  TAT:  2  days• INR  74.4  crores  savings  annually (aJer  reducing  costs  for  devices,  internet  &  Artoo)• 2.44%  reducBon  in  OperaBng  Expense  RaBo Note:  The  above  calculaBon  factors  in  the  recent  Malegam  CommiWee  recommendaBons 9
  17. 17. pilot Funded  by  Ujjivan  &  Lok  Capital  FoundaBon• 35%  increase  in  producBvity• Loan  TAT:  2  days• INR  74.4  crores  savings  annually (aJer  reducing  costs  for  devices,  internet  &  Artoo)• 2.44%  reducBon  in  OperaBng  Expense  RaBo Note:  The  above  calculaBon  factors  in  the  recent  Malegam  CommiWee  recommendaBons Above information has been validated and shared with the permission of Ujjivan Financial Services Pvt Ltd 9
  18. 18. )+#,-./#01234%%5#,-./6# $"# %"# &"# *#+#,-./#0&!1%2# $7)#,-./#01234$5$#,-./6# ("# 34+#,-./#0313)2# &("# %&"#!!"# %("# )43#,-./#0)13$2# 7$#,-./#012345(#,-./6# !%"# !4)#,-./#0!1+2# )*"# &4!#,-./#0&13+2# $"# %7#,-./#01234%5)#,-./6# )$"# !"# 4&#,-./#01)!2# 89//#:;-<#%#,-.#01234=5*# ,-./6# Paper Work at Center Meeting Customer Profiles (KYC)• 36% of the centers took around 18 seconds • 71% of customer profiles were created• 79% of the centers took less than 5 mins and approved within 2 days (12%)"3#",4/5%6%74/899% $" (#$" Retrained Requires (" on CP Training #$" !""#"$%&"%()% " &#$" &" 47% %#$" More Exposure %" to Device 53% !#$" Required Perfect !" %!" %&" %(" %)" %*" &!" &&" &(" *+,%&"%()%-.+/$0% Bubble Size: Number of CPs Social Performance Service Quality +,-." /-01/+" ,+21.+" 01+.3+," • 53% customers decreased or maintained • Objectively measure performance of their outside borrowing (number of loans) field agents and recommend • Outside Borrowing INR 5661 customized based refresher training.
  19. 19. artoo slate Artoo Slate offers an intuitive touchscreen interface, designed keeping field agents’ education, language, and technology backgrounds in mind, to capture information straight from the field. Artoo Slate, created with the tight schedules of field staff in mind, promises to minimize time spent on data entry, customer acquisition/management, and balance collection. Video: Technology in Action -- Collections MFIs/BCs can find a scalable way to engage more effectively with their customers through videos, graphics, and other interactive media with the help of an easy-to-carry, easy-to- use Artoo Slate. Video: E-Learning, Viewer, VideosFor more information, visit: 11
  20. 20. what are our customers saying? 12
  21. 21. “Artoo,  through  its  short  but  intensive  pilot  has  proved  it  can  address  a  gamut  of  issues,  revamp  processes  by  taking  them  completely  online,  thereby  giving  them  an  unheard  of  efficiency,  and  rendering  dream  turn-around-­‐<mes.  Artoo  has  analysed  Ujjivan’s  opera<ons  me<culously  (which  other  technology  vendors  have  seldom  cared  to  look  into)  and  redesigned  them  on  their  android  applica<on,  Artoo  Slate.  This  applica<on  is  intui<ve,  user-­‐friendly,  fast,  and  capable  of  taking  any  field  opera<on  under  its  umbrella.  It’s  the  first  of  its  kind  as  it  aims  for  efficiency  both  at  the  front  end  and  at  back  office.The  technology  is  portable  and  it  empowers  the  loan  officer  to  a  great  extent.  This  in  turn  empowers  the  whole  hierarchy  of  field  managers  on  their  porIolio  enabling  them  quick  business  decisions  on  cri<cal  issues.  The  technology  is  capable  of  reducing  reams  of  paper,  reducing  man  power  on  various  fronts,  and  most  importantly  reducing  the  burden  on  loan  officers  without  compromising  on  Ujjivan’s  needs.  All  these  factors  in  turn  fuel  higher  client  acquisi<on  in  shorter  <mes  at  cheaper  costs.The  techies  at  Artoo  have  delivered  more  than  they  promised  and  their  innova<ons  are  bound  to  revolu<onise  microfinance  business.”Bhargava  Krishna  (Manager  Projects,  OperaBons,  Ujjivan) 13
  22. 22. “Artoo  versus  Others 1.  Delivering  on  Requirements:  This  is  Near  Perfect  with  Artoo,  which  is  a  rare  quality   with  any  soNware  vendor. 2.  Ques:on  of  Scope:  “Not  in  Scope”  is  a  common  phrase  we  have  heard  from  many  of   the  soNware  vendors.  Whenever  we  suggest  some  “enhancements”  or  “good  to  have,”   the  immediate  reply  will  be  “not  in  scope”  or  “  our  core  does  not  permit”  and  so  on…   With  Artoo,  we  have  seen  the  complete  opposite. 3.  Delivering  on  Expecta:ons:  Always,  with  others,  we  have  no<ced  the  deliveries  will  be   below  expecta<on  and  there  will  be  jus<fica<ons  for  the  gap  like  “too  liQle  <me  or  phase   I.”  With  Artoo,  we  have  seen  that  the  deliveries  are  on  PAR  or  above  the  commitments. 4.  Customiza:on:  This  is  a  prohibi<ve  word  with  soNware  vendors,  but  with  Artoo  we   no<ce  you  are  ready  to  undertake  customiza<on. 5.  Knowledgeable:  The  involvement  and  understanding  and  final  delivery  had  affirmed   our  belief  that  your  company  understands  our  needs  and  is  the  right  partner.    Artoo  Slate:  This  technology  can  bring  in  lot  of  efficiencies  for  MFI  industry.  There  are  no  boundaries  for  using  this  technology.  Our  field  officers  feel  empowered  using  this  technology  as  informa<on  is  at  their  finger  <ps.  The  feedback  from  the  branch  has  been  very  encouraging.” Mar9n  P  S  (Project  Manager  -­‐  ERP,  Ujjivan) 14
  23. 23. proof is in the pudding Video: Field Agent Feedback
  24. 24. Contact: Sameer Segal, Founder & CEO Artoo IT Solutions Pvt Ltd +91-98866-89754 Thank you Showcased  at Winner, Winner,Srijan  Financial  Inclusion  Forum,  2010  TiE’s  KBE  Compe99on,  2010  Surathkal  Innova9on  Challenge,  2010