Octopus Microfinance Suite Functionalities Overview


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Octopus Microfinance Suite Functionalities Overview

  1. 1. Octopus Micro Finance Suite www.octopusnetwork.org
  2. 2. Agenda <ul><li>What is Octopus ? </li></ul><ul><li>Product description </li></ul><ul><li>Success stories </li></ul>
  3. 3. What is Octopus ? <ul><li>Easy, Reliable, Inexpensive </li></ul><ul><li>Octopus Micro Finance Suite is a free Micro Finance Information System </li></ul><ul><ul><li>Manages customers, loans tracking, loan accounting and reporting </li></ul></ul><ul><ul><li>It is simple and intuitive while supporting high volumes and multi-branch environments </li></ul></ul>
  4. 4. How we made Octopus ? <ul><li>A strong partnership </li></ul><ul><li>The Octopus project started in November 2005, initiated by </li></ul><ul><ul><li>A French, Paris-based, IT Consulting company : </li></ul></ul><ul><ul><li>OCTO </li></ul></ul><ul><ul><li>And a French microfinance network : </li></ul></ul><ul><ul><li>OXUS Development Network </li></ul></ul><ul><li>The first version was released in January 2007 </li></ul><ul><li>Today, OXUS is managing a portfolio of 12 MUSD with Octopus </li></ul>
  5. 5. Open Source business model <ul><li>We provide Octopus for free </li></ul><ul><ul><li>Just visit our web site and download the latest release and documentation </li></ul></ul><ul><li>You pay for assistance and share development costs if you want </li></ul><ul><ul><li>You can choose your IT partner : internal staff, local resources in the Octopus community, or OCTO in Paris </li></ul></ul><ul><ul><li>Your business can continue even if we disappear </li></ul></ul><ul><li>You can access and change the source code </li></ul><ul><ul><li>Nothing is secret, you can fully trust the software </li></ul></ul>
  6. 6. Flexibility vs. Security Versatility / Flexibility Sécurity MS Excel ‘ Downscaled’ Banking Software $$$ Besoins pendant la période de structuration © OCTO Technology 2008 $$$
  7. 7. How Octopus compares to other MIS <ul><li>You change & improve, we change & improve </li></ul><ul><li>Most MIS are difficult to adapt to your evolving business, have high prices (software and services) and low usability (high training costs, weak productivity) </li></ul><ul><ul><li>Requiring workarounds or additional systems </li></ul></ul><ul><ul><li>Leaving customers in painful migrations when upgrading to a new version </li></ul></ul><ul><li>Octopus is released every month with new features and an automatic update mechanism </li></ul><ul><ul><li>Upgrade by yourself, without being an IT expert </li></ul></ul>
  8. 8. A product, but also a process Listen, there are two many customer duplicates in the system, Octopus should check if a customer already exists … Demand#233 : Check customer duplicate When a customer is entered, a dialog … Development Automatic Testing Easy Upgrade Need Assessment Demand
  9. 9. A dynamic world <ul><li>Gather best ideas from the field </li></ul><ul><li>Continuous improvements </li></ul><ul><ul><li>Graphical User Interface, security, reports, flexibility... </li></ul></ul><ul><li>Taking into account user feedback </li></ul><ul><ul><li>Frequent input errors, productivity concerns, fraud... </li></ul></ul><ul><li>Next features to be developed : </li></ul><ul><ul><li>Savings </li></ul></ul><ul><ul><li>Comprehensive accounting module </li></ul></ul>
  10. 10. Agenda <ul><li>What is Octopus ? </li></ul><ul><li>Product description </li></ul><ul><ul><li>Know Your Customer </li></ul></ul><ul><ul><li>Loan Tracking </li></ul></ul><ul><ul><li>Accounting </li></ul></ul><ul><ul><li>Reporting </li></ul></ul><ul><li>Success stories </li></ul>
  11. 11. Welcome to Octopus <ul><li>Direct view of all crucial information </li></ul><ul><ul><li>Cash on hand balance, Alerts, Products… </li></ul></ul><ul><li>Easy access to main actions </li></ul><ul><ul><li>Users & Groups, Credit Contracts, Collection Sheet… </li></ul></ul><ul><li>Search anywhere </li></ul><ul><ul><li>Alerts, Clients, Contracts </li></ul></ul>
  12. 13. Know Your Customer Loan cycle & customer history Extensive customer information for individuals and groups
  13. 14. Loan Tracking <ul><li>Guided loan creation </li></ul><ul><li>Alerts (today’s repayments, late loans etc…) </li></ul><ul><li>Easy Disbursement and Reimbursements with authorization levels </li></ul><ul><li>Loan officer collection sheet </li></ul><ul><li>Automated printout of contracts and receipts </li></ul>
  14. 15. Loans products <ul><li>Easy creation of loan products </li></ul><ul><ul><li>All products characteristics are stored in a “package” </li></ul></ul><ul><ul><li>Highly flexible configuration of schedule, interest type, fees methodology, grace periods … </li></ul></ul><ul><li>Loan creation is completely guided </li></ul><ul><ul><li>Loan Officers only need to fill missing data (depending on selected product) </li></ul></ul>
  15. 16. Alerts management <ul><li>Direct access to all pending credits </li></ul><ul><li>Color gives you a quick information on the status </li></ul>
  16. 17. Loans management <ul><li>Repayments are totally guided </li></ul><ul><ul><li>Default due amount automatically calculated </li></ul></ul><ul><ul><li>If this amount is changed, the impact in the schedule is shown in real time (penalties, prepayment …) </li></ul></ul>
  17. 18. Loan Officer Collection Sheet
  18. 19. Printout : contract, cash receipts
  19. 20. Security Management <ul><li>5 levels of users : </li></ul><ul><ul><li>Super Admin : Can do everything </li></ul></ul><ul><ul><li>Admin : Everything except database operation </li></ul></ul><ul><ul><li>Cashier: Can enter a repayment but not confirm a disbursment </li></ul></ul><ul><ul><li>Loan Officer : Access to KYC module </li></ul></ul><ul><ul><li>Visitor : Read only access </li></ul></ul>
  20. 21. Accounting <ul><li>Double entry accounting module IFRS-compliant </li></ul><ul><ul><li>Real time balances and forecasts </li></ul></ul><ul><li>Automated booking of transactions </li></ul><ul><ul><li>Guided end of periods closing with provisioning and loans write-off </li></ul></ul><ul><li>Flexible configuration </li></ul><ul><ul><li>Chart of account, accrual </li></ul></ul><ul><ul><li>/cash method for incomes, </li></ul></ul><ul><ul><li>multi-currency .. </li></ul></ul>
  21. 22. Finance information <ul><li>Cash on Hand balance & history </li></ul><ul><li>Cash flow forecasts </li></ul>
  22. 23. Export accounting <ul><li>Automatic export of entries to an external accounting system </li></ul>
  23. 24. Reporting <ul><li>Internal reports </li></ul><ul><ul><li>Contracts, Cash Receipts, Loan Officer Follow-Up, .. </li></ul></ul><ul><li>External reports </li></ul><ul><ul><li>Central bank, donors </li></ul></ul><ul><li>Multi-branch consolidation </li></ul><ul><li>Ad hoc reports : easy data access, easy report customization </li></ul>
  24. 25. Reporting <ul><li>Active Loans </li></ul><ul><li>Client Analysis </li></ul><ul><li>Delinquent loans </li></ul><ul><li>Disbursements & reimbursements </li></ul><ul><li>Customers retention </li></ul><ul><li>OLB per loan </li></ul><ul><li>PAR analysis </li></ul><ul><li>Loan Officers’ performance </li></ul><ul><li>… </li></ul><ul><li>Everything you need for supervising your business including donors, regulators or HQ requests </li></ul>
  25. 26. Consolidation <ul><li>Easy consolidation of all branches data </li></ul><ul><li>Monitor global activity </li></ul><ul><li>Historical trend </li></ul><ul><li>analysis </li></ul>
  26. 27. Data Backup and Restore <ul><li>Directly integrated in application </li></ul><ul><ul><li>No extra technical tools needed </li></ul></ul><ul><li>Archives can easily be sent by email or flashdisk in zip format </li></ul>
  27. 28. Automatic upgrades <ul><li>Your existing data is automatically upgraded when a new version of the software is installed </li></ul>
  28. 29. Octopus ONline <ul><li>Octopus also exists as a Service </li></ul><ul><li>You can access your data from anywhere with a good internet connection </li></ul>Visit online.octopusnetwork.org
  29. 30. Multi… <ul><li>Multi user </li></ul><ul><ul><li>Users are connected to the same database using a local network </li></ul></ul><ul><li>Multi language </li></ul><ul><ul><li>Today : English, French, Russian, Tajik, Kyrgyz & Arab </li></ul></ul><ul><ul><li>Additional languages can be added </li></ul></ul><ul><li>Multi currency </li></ul><ul><ul><li>You can manage a portfolio in an internal currency (e.g. USD) and deal with your customer in their local money </li></ul></ul><ul><li>Multi level </li></ul><ul><ul><li>Consolidation allows you to centralize data at different levels </li></ul></ul><ul><ul><li>Ex: Central, Regional, Local </li></ul></ul>
  30. 31. Agenda <ul><li>Business perspective </li></ul><ul><li>Product description </li></ul><ul><li>Success stories </li></ul>
  31. 32. Oxus Tajikistan, a success story <ul><li>Octopus in use since January 2007 </li></ul><ul><li>A project from which we gathered a rich experience </li></ul><ul><ul><li>Strong release management team, business goals communication, data capture & cleaning … </li></ul></ul><ul><li>Today, OXUS is managing a portfolio of 6 MUSD with Octopus </li></ul>
  32. 33. AIRDIE – Montpellier, FRANCE <ul><li>Octopus is used in Africa, </li></ul><ul><li>Central and Southern Asia … </li></ul><ul><li>… and in France ! </li></ul><ul><li>AIRDIE is providing 7 M€ loans per year to unemployed people wishing to start their microbusiness.. </li></ul>
  33. 34. Open Source Community © OCTO Technology 2008 Technical Partners Users 1000 downloads per months Intégration with
  34. 35. Join the community!
  35. 36. ANNEX
  36. 37. A reliable testing approach <ul><li>We have 2 levels of automated tests to guarantee the application stability and accuracy of calculations. </li></ul><ul><li>Unit Tests : Test of individual functionalities </li></ul><ul><ul><li>2297 Unit Tests </li></ul></ul><ul><li>Acceptance Tests : Test of all functional scenarios </li></ul><ul><ul><li>152 Tested scenarios, 23818 assertions. </li></ul></ul>