Java Loggers Infosolutions, a software products and solutions company has launched its flagship product, 'Micro Financier' to the Indian market. The company has described the product as revolutionary, which will go a long way in automating and streamlining the processes in the micro credit industry. It is an integrated software system designed and developed to handle financial accounting and management information for organizations involved in micro credit activities.
According to Ajay Unni, MD, Java loggers Infosolutions, "We have put in four years of research and have closely worked with various Micro Finance Institutions (MFI's) to bring about this much awaited product. Our company has been marketing this product for the last one year and already has an installed base of over 100 institutions. It is only after getting positive feedback and overwhelming response, we decided it was time to promote the product aggressively and on a national scale,"
Built with the latest software tools, it is a robust system that can manage large volumes of data. It has the flexibility of creating different loans and savings type of accounts based on independent user requirement. One can define how loans and saving's type of accounts behave and specify parameters for their functioning. With full integration into financial accounting the user need not maintain separate accounting for members related and financial accounting related information.
With this flexibility built into the system one can generate daily cash and bankbooks with consolidations of member receipts and payments. All this with the help of defining the hierarchy for the organizations such as branches, centers, constituency, member groups and individual members. Because of the user-defined facility for add and delete columns, complete customized reports can be generated.
It has been inducted in national and international training bodies like Entrepreneur Development Institute of India (EDI) and Center for Entrepreneur Development of Karnataka (CEDOK). The company's product development division is working on Web enabling it and will be releasing its gold edition within two months. Java Loggers showcased the product in the Asia Pacific Region, Micro Credit Summit, meeting of councils held in New Delhi between the February 1-5.