product overview
DESCRIPTION
Octopus Microfinance Suite overviewTRANSCRIPT
Agenda
• Product description• Know Your Customer• Loan Tracking• Accounting• Reporting
• What differentiates Octopus: • Open source model• Development process
Octopus is an MIS for Microfinance Institutions
Manage your information in a secured environment
Available feature Work on progress
Welcome to Octopus
• Direct view of all crucial information
Cash on hand balance, Alerts of pending contracts…• Easy access to main actions
Users & Groups, Credit Contracts, Collection Sheet…• Search anywhere
Alerts, Clients, Contracts
Know Your Customer Module
Extensive customer information for :
-Individuals -Solidary Groups-Non-solidary Groups-Corporate clients
Loan Tracking
• Unlimited number of flexible products
• Guided loan creation
• Alerts (today’s repayments, late loans etc…)
• Easy Disbursement and Reimbursements with authorization levels
• Automated printout of contracts and receipts
Savings products
• Flexible products :
• Current account• Savings account
• Guided savings account creation
• Automatic interests calculation:
• Daily/weekly/monthlty on actual/minimum balance• Enf of day/week/month/quarter/year posting
Accounting
• Double entry accounting module IFRS-compliant
• Real time balances and forecasts
• Automated booking of transactions
• Guided end of periodsclosing with provisioning and loans write-off
• Flexible configuration
• Chart of account, accrual /cash method for incomes, multi-currency ..
• Automatic export to an external application
Reporting
50 standard reports by default
• Active Loans• Client Analysis• Delinquent loans• Disbursements &
reimbursements• Customers retention• OLB per loan• PAR analysis• Loan Officers’ performance• …
Consolidation reports
Custom reportsContinuously posted by the
Community and downloadable from the software
Consolidation
• Easy consolidation of all branches data
• Monitor global activity
• Historical trend analysis
Octopus ONline
• Octopus also exists as a Service• You can access your data from anywhere with a good internet connection
Visit online.octopusnetwork.org
Multi…
• Multi user• Users are connected to the same database using a local network
• Multi language• Today : English, French, Russian, Tajik, Kyrgyz & Arab• Additional languages can be added
• Multi level• Consolidation allows you to centralize data at different levels• Ex: Central, Regional, Local
• Multi currency• You can manage a portfolio in an internal currency (e.g. USD) and deal
with your customer in their local money
Agenda
• Product description• Know Your Customer• Loan Tracking• Accounting• Reporting
• What differentiates Octopus: • Open source model• Development process
MFIs are challenged with their MIS
Many MFIs are using spreadsheet or manual systems:• That is free
• They can control the tool
But it becomes quickly a clear limitation for growth:• Errors
• Difficult reporting
• Frauds
• Etc..
Excel(2005)
Flexible
Excel(2006)
Secured & automated
© Octopus Microfinance 2009
MFIs are challenged with their MIS
The available software are often unsatisfactory:
• Expensive:• License
• Technical assistance (often done remotely)
• Not agile/adaptable:• When new features are needed, it
takes a long time before it can eventually be integrated
$
Fle
xibl
e
Excel(2006)
MIS(2007)
Secured & automated
© Octopus Microfinance 2009
An Open source model to mitigate the challenges faced by MFIs..
Adaptability
© Octopus Microfinance 2009
Costs
costs
Why Open Source ?
value
Procurement-led : the user is a customer(1960-2000)
t
value
costs
Adoption-led : the user becomes a customer(2000+)
t
Test alone Deploy with an expert
Innovate with another expert
RFP, MIS in-a-box
maintenance, new licenses
Open Source business model
• We provide Octopus for free• Latest release and documentation available at
www.octopusnetwork.org
• You pay for assistance and share development costs if you want• You can choose your IT partner : internal staff, local resources in the
Octopus community, or the Octopus Microfinance company based in Paris
• Your business can continue even if one of the partner disappears
• You can access and change the source code• Nothing is secret, you can fully trust the software
Octopus Community in Jan. 2009
ParisBrussels
Dakar
Bishkek Dusbanbe
Delhi
Colombo
Accra
Choose your partner !
An Open source model to mitigate the challenges faced by MFIs..
Adaptability
© Octopus Microfinance 2009
Costs
Flexibility vs. SecurityV
ersa
tili
ty /
Fle
xib
ilit
y
Security
MS Excel
Classical MIS
$$$
Besoins pendant la période de
structuration
©© OCTO Technology 2008
$$$
How Octopus compares to other MIS
You change & improve, we change & improve
• Most MIS are difficult to adapt to your evolving business, have high prices (software and services) and low usability (high training costs, weak productivity)• Requiring workarounds or additional systems• Leaving customers in painful migrations when upgrading to a new
version
• Octopus is released every month with new features and an automatic update mechanism• Upgrade by yourself, without being an IT expert
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
Benefits
• Freedom• MFIs buy what they need, when they need it, and from whom they
want
• Community• It’s easy to step into the community and contribute : one translation,
one paragraph in the documentation, one new feature, one piece of code, one end-user support …
• Continuous Improvement• The software improves with its community• Octopus IT specialists are also skilled in “soft techniques” : focus on
the value of IT (lean management) and change management
Our goal
• Increase financial services affordability for the poorest
• By creating autonomy among Octopus users• Octopus is a software by the people, not only for the people• It can streamline innovation inside MFIs: reduce operation costs,
allow to tap new markets, secure the activity …• .. via a world wide community of practitioners in Agile and Lean
techniques
• More than Open Source product, we lead a continuous improvement process, engaging MFIs and IT specialists
