After two years, the product was stable and efficient. More than a strong product, we had set up a very strong process. We were able to deliver new features at a very fast pace while keeping the product very stable, robust and simple This unique ability in the market allows Octopus to aggregate the best microfinance practices found around the world, for the greatest benefit of our customers Slide Presentation on how Octopus can transform your Organisation. The story of an MFI, and the issues it faces with its Information System.
General Features of Octopus Microfinance Suite
Mono or bi-currency Multi-user Multi-branch Multi-language: currently English, French and Russian, but others can be easily added
Clients
Individuals, solidarity groups, corporates Customizable fields Pictures Duplicate client checking Client watchlist Client blacklist Client History Multi-criteria search engine for clients
Amortization (Repayment) Schedules
Preset types of schedules (constant payment, constant principal) Fully customizable schedule (‘exotic products’) Grace periods on principal/interest payment Schedules skip holidays (customizable) Schedules skip weekdays (customizable) User-selected payment frequency (daily, weekly, monthly, 28-days, etc.) User-rounded total payment Rescheduling module (supporting multiple reschedules) Management of Prepayments (automatic reschedule can be disabled)
Interest
Flat / declining interest rates The variable annual basis for interest accrual Daily accrual/cash method Upfront / standard interest payment
Fees and Penalties
Disbursement fee – origination fees Penalties on principal payment Penalties on interest payment Penalties on overdue principal Penalties on overdue interests Anticipated repayment fee
Defaults and Overdue Payments
Quick access to loans in arrears in the ‘Alert window’ Due payments are prompted Overdue payments are prompted A detailed report on loans and clients in arrears Reports on Portfolio At Risk, with a customizable breakdown
Other Loan Features
Loan cycles managed at the product level Credit committee Tracking approved, rejected, suspended and abandoned applications Multi-criteria search engine of contracts
Collaterals & guarantors
Customizable categories of collaterals The editable contract for collateral Tracking of guarantors The editable contract for guarantors
Resource Management (funding lines)
Donors and creditors tracked Grants and credits tracked Resource balance controlled before disbursement
Reporting & Analysis
Default reports for detailed analysis of clients, applications, loans, and collaterals Default ‘consolidation reports’ for management Exportation to MS Word, Excel, or pdf. Customization or addition of new reports through Crystal Report
Accounting module
Accounting schemes by default from the French PCEC Customizable according to local schemes Manages Cash/Accrual methodology Loan loss reserve matrix End-of-period closure showing the loan degradation and write-off Exportable to an external accounting application
Users and Security
User password encryption Different user-level rights and restrictions Event log and audit trail
Technical Specifications and Requirements
Octopus is an Open Source software, built with MS .Net Technologies Pre-requisites: Framework .NET 3.5 Database: SQL Server Express (free) or SQL Server 2005 Reports: Crystal Report XI Download at the below link Octopus Installation Guide
