SACCO Software

SAVCO® is a group of Windows® based software products that are used by SACCOs, Credit Finance and Micro Finance Institutions. In general the following features are available:

• Membership and Customer Details
• Remittance Management
• Loan and Share Management.
• Front Office Customer Service
• Some versions have Fixed Deposits, Standing Orders and Teller Services
• Member Specific Reporting and Standard Reporting
• ATMs services.
• SMS Services.
• Ledger Accounting.
• Budget Accounting.
• Data Imports and Exports from Microsoft Excel or text files.
• Un-Limited User Customizaion.

SAVCO is a real time integrated system which means that loans, shares, statements, income and expenses and all accounting are updated immediately. You get your results immediately not at any period end. It is easy to use and very customizable such that all your requirements will be met.

 

Highlights

Members and Customers

• Captures all legal and statistical details.
• Captures next of kin details.
• Captures all other references e.g. property documents, title deeds with no limit to what you would require the customer to represent.
• Captures passport photos and signatures.
• Allows you to include advisory, instructions or any notes to a member or customer.
• Can block,black list or restrict members and customers.

Products - Loans, Shares and Savings

• Gives standard controls and parameters to define products.
• Allows you to create your own controls.
• Allows you to define unlimited product types.
• Allows you to design products the way you want including interest rates, maximum and minimum amounts, standard insurances and other commissions and charges.

Data Representation

• Remittances can be exported and imported through Microsoft Excel or Text Files
• Automates regular charges, standing orders, loan penalties and any other user required automation.
• Easy in data entry and allows storage of recurrent and repetitive transactions so that they are used again without re-keying. This saves time and ensures accuracy.
• Has all standard reports including those requested by regulatory bodies.
  Can Import and export data to Microsoft Excel, Word, Internet, Acrobat and universal rich text format.
• Unlimited number of standard and customizable reports.
• No Limit in number of users, members, customers, accounts, or transactions.
• Has immense audit control on all records including creation date, modifying date, by who and when.
• Does not limit you in the amount of data, both current and historical that you can store.
  

Results

• Produces statements for members and customers that can be printed or saved as word excel web pages and acrobat files to be sent via e-mail.
• Allows you online inquiries on balances, history and statements.
• Gives loan loan/share statements that can have your logos implemented.
• Allows special reports to print slips on special printers like the 60 0r 80 mm roll printers.

Facilities

• Tellers are logged and tracked such that their daily transactions can be reconciled at the end of the day and the month.
• Saving interest are calculated as advised based on user selectable methods and are transferred to customer accounts directly.
• Loan can be sent to FOSA (banking) directly on approval.
• Loans can be serviced by Savings (FOSA) automatically.
• Members can have several concurrent active loans each with different completion periods.
• Automatic dividend calculations and transfers to member’s shares or loans.
• Allows Customers to use mobile phone SMS to query their Loan, Shares or Saving Balances.
• Allows Customers to use ATMS to withdrawal money or query saving balances and receive a mini-statement.

 

Versions

There are three SACCO software series that are distributed - series 3.X, 4.X and 5.X. The current releases are as below.

SACCO 3.6
It is member centric system that manages loan applications, loan repayments, shares and all remittances. Remittances can be entered one by one or within a journal batch where several are entered before being posted. Journals can be imported from Microsoft Excel or text files to be processed and posted. They can be retained as recurrent such that they are re-used every periods with minor changes. The Excel Importing is very advanced and users can design worksheets with formulas and forms that resemble their own office documents.

All Loan and shares products are user configurable with numerous parameters, keywords and standards that brings the exact solution that fits you. You can even design your own commissions and charges and apply them to loans.

It comes with standard reports and queries and users can add more or request more from service providers.

 

This version is very popular with employee based SACCOs and SACCOs that do not operate Front Office Banking Services i.e. Do not have counter tellers Deposit/Withdrawal activities like in a bank.

 

SAVCO 4.3
It is Customer Centric system that is used by SACCOs, FSAs, MFIs and Community Banking. It has product buying, reselling and revaluation for customers. It has similar data handling as 3.6 and additional Front Offince Banking Activities. It has excellent SMS handling facilities and supports ATMs and POS for non counter money mandling. You can purchase items at retail sites such as super markets, petrol stations and other card supporting sites.

 

SACCOs, MFIs and organization that have Front Office Banking (Mone Depositing/Withdrawing through tellers like in a bank) fit in perfectly into this version.

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SAVCO 5.2
This is an all rounder version which allows multiple product and services to be defined for a customer. It is has similar functions to all above and extra such as purchasing and selling of produces and goods to/for customers. It is in constant review and can be customized for customers specific need like appendages that can automatically read from weighing machines or scanners for automatic data entry. Customers may supply additional specifications they require and if they are not already there, they are developed and tested and then included.

 

About Releases
The above are release numbers and each release is updated and revised from time to time. The release number remains the same but the build and revision numbers are always incremented with each update.

 

Requirement & Technology

Summary

SAVCO employs client server technology where it is installed in a user computer and is independentor of the database to be used. The same software connects to multiple databases either of any type. The user makes the choice of where the data is stored and can e IBM DB2, Oracle or Ms Access databases.

Oracle and IBM DB2 are used in a network environment and for medium and large organisations. They allow hundreds of computers distributed locally or within a large geographical area to access data. Software licences and the databases are bought separately for large organization with large number of members. however, there are free Express editions that can be used for small and medium companies and have all functions of licensed full products.

User Requirement

The client can be installed on any PC running on any Windows version released after year 1999.
 
A Pentium PC with over 256 MB memory and over 20GB hard disk is preferred. Higher specifications personal computers will deliver better performance. We recommend memory of 512MB or above and disk space of 60GB or above for optimum performance.

Databases

Oracle and IBM DB2
Oracle and IBM DB2 are supported and should be installed in a Pentium 4 or above Server or workstation with a memory of 512MB or above and at least 80GB hard disk or above. The server should be running Linux, Unix or Microsoft Window servers. We recommend memory of 1G and above.

Flat Database MS Access Compatible
Ms Access compatible is a flat file database and can be placed in any server taking into account of available disk space for current and future growth.

Network

Any configuration of TCP/IP network will work. Local Area Network may work with any number of computers as long as there is enough server memory. Bandwidth of remote connections should be adequate and will be determined by the number of remote connections. Small bandwidths will make remote computers respond slowly.

 

Licences & Support

Licence Notes:

1. No Limit on Number of Users or number of sites.
2. SAVCO License is given to the entire organization.
3. SAVCO License is supplied and paid within initial cost.
4. SAVCO License is permanent - No annual or renewal fees.
5. SAVCO License is not transferable to other parties.
6. Free Oracle/DB2 database available for small and medium organization.
7. Oracle/DB2 Licenses can be obtained from Providers or Dealers.
8. Only Oracle/DB2 server licenses are required as SAVCO users do not need database licenses.

Support Notes:

1. Annual Software Support Agreement is signed after the system is in production.
2. Support Agreement is necessary so as to receive updates and be assistated at all times.
3. Data Entry and Outsourcing (Maintaining, entering and Serving SACCO Customers) is payable.
4. Data Outsourcing is charged at the lowest available rate in the market.
5. We support our partner’s customers indirectly or directly through their own Vendor. We still can support you even when the software and the impementation was done by a third party or software dealer as long as we have software agreement with you.