FINAL RFI FINANCE SOLUTIONS
Contents
1. General comments License is purchased per Branch The price per additional user is USD 150 The price per additional 1000 Clients is USD 150 SQL Server License is purchased separately from Microsoft Training costs Training on Finance Solutions at US 300 per day Accommodation food and transport for the trainer are provided by the client Annual maintenance fees are at 20 of the license costs These cover free updates from our website e mail and telephone call support CGAP PRICING cases al i Software s Name Finance Solutions Company s Name Sigma Data amp Computers Case 3 Contains two tables steps outline with comments amp recommendations and finally pricing outline eee ar Workload in men month on Workload in PRICING OUTLINE Pe Duration in month i men month on Comments Recommendation g Price in Comments the vendor side A A product service the client side Specifications installation parameterization and 1 i 1 Core module License USD 1000 configuration We charge USD 300 per day Hes ing UBT Pevepiance 1 1 1 Additional modules for customization Additional tests Module Small clients can use FREE R s Sql Express edition Larger Pilot phase 1 1 1 Database license Nil clients should buy SQL SERVER from Microsoft te Interface module Delivery Training 1 L i Channel USD 300 per day First branch roll out 1 L i Implomematon Foes and USD 300 per day Expenses Full rol2. On line or batch ledger updates tills credits deposits Automated calculation and posting for partial or late payments including interests Accrual vs cash Existence of accounts to handle interest and principal due but not received separate from accrued Software ceases to accrue interest on late loans automatically or on demand Cost accounting Additional Question from Consultant Can you provide more explanation on this module Finance Solutions s answer From the Transaction Menu go to Fixed Assests here you can register the fixed Assets it can be disposed you can Asset management valuate the assets From the Admin menu User Defined codes you can define the Fixed assets codes like Asset Types Asset Classes Depatments and Asset Locations From the Admin menu Account Settings gt Fixed Assets Depreciation here is where the assets can be depreciated Budget management Additional Question from Consultant Which reports are produced Finance Solutions s answer In FS we call Treasury Management as Bank Placements It us Under menu Transactions gt Bank Placements Reports are in Reports gt Back Office gt Bank Placements Reports We have Bank Placement Statement Bank Placements Listings Upcoming Maturity Bank Placements Concentration Reversed Bank Placements Reversed Bank Placements Withdrwal and Interest Exploser Report Panen wo Junder Development Accounting interface E Can export t
3. 30 days depending on the size of the organization Quickest implementation Po 15 Days It depends on the number of branches but on average it takes maximum of 30 days per branch months Installation CD ROM available We provide FS in CD ROMs this includes the manual as well First take aback up of the database then deploy two files i e Tools exe and FS exe use tools exe to update the database Longest implementation Guarantee period ao Software update procedure Training User training We offer training and provide user manual at the end of the training It takes 5 Days to train for all the modules in the software for all the different user levels It cost 300 per day Its costs USD 300 per day times the number of days Ecce baeincneariainii VES It takes 5 Days to train Systems Administrators but they need also attend the y 3 Users training if they don t attend then they need 10 Days ES If yes how long Who Cost If the will use Finance Solutions for many branches with WAN connectivity USD 300 per day USD 300 per day Training local IT specialist If yes how long Who Cost Cost of programmer man days for customization System pricing It ranges from USD 1000 to 15 000 per branch this will depend on the number of clients and network users Additional Question from Consultant Give precisions Finance Solutions s answer Maximum Licensed Users Maximum no of Clients Price Annual Maintenance 20 of licen
4. CASES Company s Name Sigma Data amp Computers TOTAL 12 TOTAL General comments Page 28 of 30 CGAP Software s Name Finance Solutions 2009 Software Reviews PRICING CASES Company s Name Sigma Data amp Computers Case 2 Contains two tables st eps outline with comments amp recommendat ions and finally pricing outline STEPS OUTLINE Duration in month Workload in men month on Workload in PRICING OUTLINE Help Desk assistance included in the initial license cost TOTAL General comments 12 Maintenance yearly price TOTAL a men month on Comments Recommendation Price in Comments the vendor side A A product service the client side Specifications installation parameterization and 1 2 2 Core module License USD 1000 configuration We charge USD 300 per day eStore Sen eee planes 1 2 3 Additional modules for customization Additional tests Module Small clients can use FREE x P Sql Express edition Larger Pilot phase 1 2 3 Database license Nil clients should buy SQL SERVER from Microsoft RE Interface module Delivery Training 1 2 4 Channel USD 300 per day First branch roll out 1 Implomematon Foes and USD 300 per day Expenses Full roll out 6 6 6 Training Cost USD 300 per day 20 of licencing price Page 29 of 30 2009 Software Reviews
5. Finance Solutions 2009 Software Reviews PRICING CASES Company s Name Sigma Data amp Computers Description of the MFI situations Number of clients Number of users Products Number of branches Urban Rural Price in Comments Case 1 100 000 220 Loan Deposit Transfer domestic 50 50 50 83 000 Base price is 1000 per branch for 1000 clients and single user Pricing depends on no of users no of clients and no of branches only The price per additional user is USD 150 and price per additional 1000 clients is USD 150 Not charged per product or Urban Rural Case 2 40 000 60 Group Loan Individual Loan 20 20 80 29 000 Base price is 1000 per branch for 1000 clients and single user Pricing depends on no of users no of clients and no of branches only The price per additional user is USD 150 and price per additional 1000 clients is USD 150 Not charged per product or Urban Rural Case 3 15 000 45 Individual loan and deposit 10 80 20 16 000 Base price is 1000 per branch for 1000 clients and single user Pricing depends on no of users no of clients and no of branches only The price per additional user is USD 150 and price per additional 1000 clients is USD 150 Not charged per product or Urban Rural Case 1 Contains two tables st eps outline with comments amp recommendat ions and fina
6. by the system E E E E S S S S S S S S S S S Back dating of transactions on loan accounts l Loan rescheduling follow up and separation from other loans Page 10 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Unexpected amount possible underpayment overpayment more than VES one can post an underpayment but overpayment more than the loan balance loan balance is not possible Po oes OT OOOOCOCOCOCSCSCSCSCSC dY Batch processing for disbursement lists collection sheets There is provision to put tax as a percentage or flat amont Additional Question from Consultant It seems that this function doesn t exist for loans Finance Solutions s answer There is no VAT as specific on loans in FS but we have 4 types of charges like Loan Commissions Loan Processing Fee Loan Commitment Fee Loan Application Fee User can rename one of them as VAT in Language File Please check Loan Product Settings Loan accounts numbering random user defined system generated It is system generated The system produces loan reports e g Loan disbursment report repayment report loan outstanding balance report active loans by loan officer loan till sheet group members report borowers detail reports etc Deposits management core banking system Finance Solutions linkage starts from the Chart of accoun
7. my incur a fee depending on the setting made by the client institution Installments schedule grace with interest Installments schedule grace without interest Delinquency management facilities handling of on time early late partial and extra payments and calculation methodology Additional types of payments Commissions and fees Please specify at what stage of the loan cycle those fees may be charged Penalty fees for late payments Please specify if the user may suspends these fees E Credit insurance Group insurance fees Other user defined Y Repayment methods Cash Check Standing order auto debit E E E E E i E y Money order Current account transfer ATM Card POS devices Mobile banking Under Development Under Development Under Development The systems tracks loan appraisal loan application loan approval then loan disbursment N N O O NO chek ES List the different steps of the loan cycle application appraisal approval disbursement payment Approval workflow system YES automate o OE Closing a loan on time and early YES automatic It is possible only if the date is not older than the loan disbursment date and the previous repayment date eed The system produces a loan repayment schedule when a client offers to Expected repayment amount proposed by default by the system YES repay aloan the expected repayment is automatically proposed
8. possibility to set it up by product Rounding of installment amounts Principal interests Guaranty Deposits and funds Guaranty funds Death insurance nee date Catulaionsetbyagcngniesardpeactyees E T Gatwation modes otal oustanding pastous veso OOSOSOSOOOOCOCOCSCSCSCSCSCSCSCSCSCSCSCSCSCSY Provision automaticaly caluatedatasbusement o vso O Reporting OOOO O O ang SSS Performace monitoring report Clients Internal accounts Listing System users report audit trail report Loan outstanding balance report loan disbursment report Portfolio at risk report Active loans by loan officer Cashier Teller status Transactions by session date savings transaction report etc Existing operational reports Page 20 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd eS CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Trial Balance Profit and Loss statement Balance Sheet Budget variance with annual budget Chart of Accounts Cash flow review Balance Sheet Cash flow review Profit and loss statement User defined profit amp loss statement User defined Cash flow statement user defined balance sheet Existing financial reports Existing management reports be O where the user chooses the items to appear this can be seen from the Reports menu Financial reports User Defined profit and loss statement balance sheet and cash flow statement The use
9. 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd eS CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Contact information of the person who fills the fquetomiier a Name Po Kenneth eto o O Position TechinicalManager oo O e mail address finfo sigmadecom o O Phone number Po 25644256581 S O Since when are you working with this institution Oooo octo o O ee eee COMPANY PROFILE Contact Details es R CC ttpwww sigmadc com S O Postal address P O Box 30348 Kampala Uganda 256 414 256581 Cid Fax number 256 414 256581 a Established since S e OOCOCOOOOCCSY C SSS 2006 120 000 000 Uganda Shillings 2007 200 000 000 Uganda Shillings 2008 450 000 000 Uganda Shillings 2006 120 000 000 Uganda Shillings 2007 200 000 000 Uganda Shillings 2008 450 000 000 Uganda Shillings 2006 45 000 000 Uganda Shillings 2007 63 500 000 Uganda Shillings 2008 180 000 000 Uganda Shillings aroni to microfinance acidity Se 2006 45 000 000 Uganda Shillings 2007 63 500 000 Uganda Shillings 2008 180 000 000 Uganda Shillings Main shareholders with of shares Turnover and Results last 3 financial years Company s turnover Turnover linked to microfinance activity Company s net profit Whole company staff Core Banking Microfinance Systems Staff Sales amp marketing CBS staff Implementation amp training CBS staff Technical support CBS staff Product development CBS staf
10. IA 2 Offices BrainSoft Technologies Tanzania Ltd Uhuru Street Clock Tower Buildings Plot No 2036 155 P O Box 11625 Dar es Salaam Tanzania Tel 255 2127629 255 754 464 744 255 784 712424 leearinfateuppad ation Email info brainsoft co tz Contact Person Mr Philbert Bagaya Managing Director Nigeria 1 Office INFONET Management Consultants Ltd 8 Daniel Adekoya Street Off Ojokoro Road Ikorodu Lagos Nigeria Tel 234 01 7611839 234 01 7914389 234 014043445 234 8033955145 Email infonetmgtconsultants yahoo com Contact Person Mr Hafeez Oderiinde Managing Director Rwanda Burundi Congo Francophone countries 1 Office National University of Rwanda ICT Center P O Box 117 Butare Butare District Republic of Rwanda Tel 250 fe wema YES YES User club existence YES YES YES E Technical documentation available User documentation available of staff ATM intergration POS hope to get more clients and also increase the staff Trends for next 3 years number and support centers Forecast features under development for the software ATM intergration POS Further innovation in pipeline for microfinance market We have added new modules such as Forex module multi currency Bank iain evolutions since 3 years placements inter branch transaction Centralised database on WAN y Different loan methodologies Our clientel has grown and so has our number yes Support of MySQL Database and other databa
11. S SQL server backend Internal tool specify whether manual or automatic Password protection of SQL Server Database Protection using network resources and SQL server password Passoword protection can be set TECHNICAL ARCHITECTURE Server requirements E E zZz Page 23 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee CGAP Software s Name Finance Solutions ITEMS opens OOO Nean aso be usecasasenerOS XP Vista can also be used as a server OS Minimal configuration for 15 000 50 000 100 000 clients Pentium 4 processor Xeon 2 8Ghz 1 GB RAM 40 GBHDD Optimal configuration for 15 000 50 000 100 000 clients Duo core processor Xeon 2 8Ghz 2 GB RAM 80 GB HDD i lient only that mor r h Il ME Size of server application for 15 000 50 000 100 000 clients a ee client only that more storage space has to be allocated i e Network requirements ooo ea eee ee en Setup a LAN install SQL server on the server then create a new database Describe the usual configuration and restore a blank data install Finance Solutions on all the clients configure the database path to read from the server Database requirements SSSCSC CSCSCSC diCCOUWC C C C C dAWeaSt 10GB tree isk space 1GBRAM Supported alvedatabases f Microsof SQL Sever Database 2000 2005 2008 and Express Editon K A S E C CS Workstation o C O r A T T E AT SCSC C SCSCSCSCSY Optim
12. al configuration Size of client application Existing interface Excel Word text formats TXT CSV Other Word Excel PDF XML Image RTF Programming language Microsoft Visual Foxpro 9 0 Visual Studio Net Microsoft SQL Server Opensource POherinegatedioos __ Foxfire report generator Crystal reports can also be used PLANNING TRAINING AND BUDGET System implementation ey gs We study their current system then do the training and later do data Implementation methodology i oar importations verifications is the final stage before rollout Usually after the training has been done from one branch a database is Describe how you build capacity at your client to replicate implementation prepared to the clients specifications e g The chart of accounts Interest of one branch to other branches by itself calulation methods General Ledger numbers this blank database can be later used by other branches since its the same institution Installation amp training partners please indicate installation and training We offer training in English French and Swahili other languages i e languages where appropriate Spannish Russian and Portugues can be arraged Page 24 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Average implementation time from contract signature to service launch a ee ll It takes 20 to
13. ance Solutions ITEMS CHOICE LISTS FREE ANSWERS DESCRIPTIONS COMMENTS Finance Companies YES Cooperatives and Credit Unions YES We have many clients who are SACCO s Non profit Organizations YES Others Market references Number of operating clients in 2006 2007 2008 006 32 20007 65 2008 82 006 30 20007 65 2008 78 owest is 1 branch highest is 10 Number of operating microfinance clients in 2006 2007 2008 Lowest and highest number of branches within MFI clients Average number of branches per client Lowest and highest nb of accounts handled within MFI clients Uganda 69 Nigeria 12 Kenya 2 Tanzania 6 India 5 Rwanda 3 Mozambique 1 Zambia 1 Democratic Republic of Congo 2 Burkina Faso 1 Uganda 11 Nigeria 3 Rwanda 2 Burkina Faso 1 Tanzania 3 Cameron 1 Number of microfinance clients by country 2008 Number of ongoing installations by country wj oa On fo Non_profit_Organizations Savings_and_Credit_Associations Cooperatives_and or_Credit Unions Most of the cooperatives_and or_credit unions are also Savings_and Credit_Societies E Commercial offices including resellers eee Se Page 3 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee OCG AP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Uganda 1 Office Sigma Data amp Computers 5th Floor Greenland Towers Kampala Road P O Box 30348 Kampala Uganda East Africa T
14. ash is transferred from Till to Vault after everything is balancing core banking system Close Till lt m n Cash overage and shortage management Transfer cash from vault to a till Transfer cash from till to vault lt m n lt m n Transfer cash from one till to another Transfer cash from HO to Branch office lt m n lt m n Transfer cash from Branch office to HO Y ES lt m n Page 13 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd eS CGAP Software s Name Finance Solutions ITEMS CHOICE LISTS FREE ANSWERS DESCRIPTIONS COMMENTS Additional Question from Consultant It appears that the cash position in FS is the equivalent GL account balance Finance Solutions s answer You can t post directly to the GL a sub account has to be created under the GL and the number of subaccounts is unlimited on the financial reports the account balance appears under the GL End of day cash position Additional Question from Consultant It appears that is function doesn t exist in FS number of 100USD bills 50 USD bills Coins Bill counting accessory ee H Finance Solutions s answer This function is not in the system p Continuous cash position YES Transfer core banking system The system supports interbranch transactions you specify the local branch debit and credit GL number and the Remote branch debit and credit GL number Additional Question fr
15. cal and centralised DB and when network is restored only the incremental transactions are sent to the central DB Pls confirm Finance Solutions s answer Yes If network failure user can continue working on local DB When network restored SQL SERVER will replicate only modified New records Local DB is always same as Central DB when net fF Centralised on line with off line option Other Technical Deploiement of software Page 17 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS You can install Finance solutions on a single PC the database and the front Stand alone YES end all on the same PC You install the database MS SQL server on the server PC and Finance Client Server solutions on the client computers and all you have to do is specify the server computer name database name user name and password a YES if using WEB Services Web meee la Additional Question from Consultant FS could run under a browser Finance Solutions s answer Using Third party service WEB Services Here you do it when opting for centralized database you install the database YES on the servers running windows server 2000 and above then on the client computers you make sure the join the domain of the main server a WAN has to be set first Delayed posting a Tracking flexibility Tracks clients at different lev
16. ce 1 1 000 US 1 000 US 200 5 5 000 US 2 000 US 400 10 10 000 US 3 000 US 600 15 15 000 US 3 500 US 700 20 25 000 US 4 500 US 900 Unlimited Unlimited US 15 000 US 3 000 License basis range cost Cients should renew their licence annually they get free updates and support License expiry YES is also free they only meet the support technician s transport costs meal and accomodation It costs 20 of the software price There is no cost per transaction Annual maintenance fee basis range license Cost per transaction basis range Page 25 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd eS CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Assistance included in the initial license cost Lo Our support is free all the client pays for is the transport Visa and meals This depends on the option choosen if say 1 user licence is choosen with a Average cost of installation with standard training included license maximum of 5 000 clients the client pays USD 1000 for software and USD 200 as license plus USD 2 000 as training cost ments this module i for things like tr r n Additional modules not included in the standard software List features We have oa place SI ts Miles Meee is Used for things like tresuary bond and bills and Discount instruments COMMENTS NOTES ooo o Oe Page 26 of 30 CGAP Software s Name
17. e Clients There is also a shortcut icon in TOOLBAR There is a report Personal Ledger under menu Reports gt Back Office gt General Reports gt Personal Ledger Once a client carries any transaction his her details can t be deleted from the Historical data on clients including deleted canceled rejected and closed system for savings and loans once a record is deleted its stored in the loans system records for deleted savings loan disbursment repayment application can all be traced All the stages can be traced you can put block a client account put it on hold make it active or dormant For loans there is a the application stage approval stage etc Unique identifier of client as a parameter internal number Mnemonic ID There is an internal number that uniquely identifys aclient also the ID card id card is a unique field Physical identifier of client picture signature finger print Able to track clients at different stages of the process prospect active blocked You can t have duplicate cleints in Finance Solutions but clients with the Identifies potential duplicates i e double entry of clients same names can be in this depends on the settings made in the general configuration on whether to allow clients with the same names Tracks potential clients information They can be tracked Black list There is a provision to blacklist and deblacklist a client Yes this can be printed out there is a report that ha
18. el 256 414 256581 256 772 496460 Email info sigmadc com lachmayya yahoo co in Website http www sigmadc com skype sigmadc or lachmayya TANZANIA 2 Offices BrainSoft Technologies Tanzania Ltd Uhuru Street Clock Tower Buildings Plot No 2036 155 P O Box 11625 Dar es Salaam Tanzania Tel 255 2127629 255 754 464 744 255 784 712424 Email info brainsoft co tz Contact Person Mr Philbert Bagaya Managing Location of commercial offices Director Nigeria 1 Office INFONET Management Consultants Ltd 8 Daniel Adekoya Street Off Ojokoro Road Ikorodu Lagos Nigeria Tel 234 01 7611839 234 01 7914389 234 014043445 234 8033955145 Email infonetmgtconsultants yahoo com Contact Person Mr Hafeez Oderiinde Managing Director Rwanda Burundi Congo Francophone countries 1 Office National University of Rwanda ICT Center P O Box 117 Butare Butare District Republic of Rwanda Tel 250 Support center including resellers a A Page 4 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Uganda 1 Office Sigma Data amp Computers 5th Floor Greenland Towers Kampala Road P O Box 30348 Kampala Uganda East Africa Tel 256 414 256581 256 772 496460 Email info sigmadc com lachmayya yahoo co in Website http www sigmadc com skype sigmadc or lachmayya TANZAN
19. els individual group village branch region institution Track current and historical client portfolio of loan officer supervisor YES es Multiple branches or regions ES es Presentation of financial or statistical information by branch or region Y ize i i Y Ability to neutralize inter branches transactions Multi institutions Y Its 999 999 per product e g Voluntary savings if you use numeric as the account number when this is exhusted you can use alpha numeric Maximum number of accounts handled by software Page 18 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd eS CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS The fields during client data capture can be modified they are labed as user definable fileds also the client can change the language file e g if instead of calling a Loan arrears report and its called Deliquent loans report the user can modify the language filed using notepad and save this will be reflected on the software interface and labels Additional Question from Consultant The question was related if a user can really modify or add new fields Finance Solutions s answer User can change field names in Language File Multiple languages a a eee aes Technical documentation and user guides languages Po English French Swahili Languages available within software English French Kiswahili Spanish Russian Portuguese Lu
20. f pt Page 1 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Other softwares services that your company provides a IT Solutions Software Development MIS Consultancy Softwares Finance Solutions S y O Sevices Oo O MIS Consultancy Software Development IT solutions Has your company set up partnerships for the mivotnancemanet LP e SSCS UT OC dY with Resellers Pwnneose SO E T We have expanded our operation areas through distributors our staff Main evolutions since 3 years numbers has also grown We hope to expand more in the market increase the number of distributors Trends for next 3 years across the world come up with new products and also introduce new technologies to our software SOFTWARE OVERVIEW SUES Solutions PSoftwareversions a E ET Number of releases Latest version number Number of installations latest version nb of MFI Number of installations previous version Date of last released version Date of next release if already planned Average release frequency Patches and updates integration tool FTP server for patches download Type of institutions targeted Commercial Banks Microfinance Banks Community Banks limited service area Page 2 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee CGAP Software s Name Fin
21. ganda You could have a user login in english the cashier working in French the other in Spanish another in Russian etc all accessing the same database at Can support languages on a user basis the same time the language file is an enternal LNG file which is a text file It Is there any field that can be modified or added by user can be easily transalated to another language all you have to do is make a copy of the LNG file and rename it then translate To add a new language the end user has to make copy of the old language Multiple language support requires recoding language is hardcode file which is in the language folder and rename it then they can start or is intrinsic to the system language is parameterized translating it into their own language They can use notepad or wordpad to edit this Statements can be in different languages If yes possibility to Depending on the client s language you can choose to print any statement in allocate a language to a client a language of their choice Ability to handle non roman scripts OC o Multiple currencies P Yes all you have to do is set the base currency and later set the different Supports local currencies and foreign currencies currencies and their exchange rate to the base currency All Finacial reports can be viewed in any Currency Supports loan deposits accounts and teller transactions in different YES currencies Supports foreign exchange exposure calculation facilit
22. ies We have module Foreign Exchange revaluation Handles maintenance of value accounts and other inflationary risk NO mitigation functions Possibility to add a currency End user can add an unlimited currencies to the system Page 19 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd eS CGAP Software s Name Finance Solutions ITEMS s FREEANSWERS DESCRIPTIONS COMMENTS One rate only per currency Additional Question from Consultant It seems that only one rate per currency could be recorded Finance Solutions s answer Yes only one rate per currency is supported in the adimin settings but you can change currency rate when you post transactions All Financial Reports can be displayed in any currency of your choice once it is input in FS The system supports automatic currency revaluation into the base currency for each currency you enter you specify the value to the base currency all financial reports can be viewed in any currency specifed in the system Position Management Additional Precision from Consultant Position mgt is a report showing the gap between Assets and Liabilities per currency Finance Solutions s answer No FS does not have it then a Poss PES See e EEE ST PES Po Daily exchange rates entry Diolyedin 2curenses in 2 currencies Diolyedin 2curenses Rounding Rounding per currency to fit cash constraints 5 10 50 100
23. in controller at the head office MS SQL Server replication is then configured If there is a disconnection from the head office the branch is not disconnected and they remain online when connection is regained only the new posted records are replicated Additional Question from Consultant Two more questions 1 What should be the minimum broadband if it s used throaugh Internet 256k 512k 2 Regarding the replication capacity in case of off line would like to know it this is a feature provided by MS SQL or by FS Finance Solutions s answer Minimum broadband 128k at branch and 256 at Head Office Replication feature provided by MS SQL SERVER If branches Centralised on line Additional Question from Consultant It means the ability to automaticaly switch from local to remote DB and automatically reconciliate the incremental data between the two DB Finance Solutions s answer With the help of MS SQL server replication all is done automatically the client doesn t even know he is not connected to the remote DB as he is connected to the local server and the local connects to the remote using Domain and Active Directory services so only incremental data is reconciled incase there is a break down VES Additional Question from Consultant understand that if FS is functioning in centralised mode in case of failure of the network the user can continue to work on his local DB this means that previous transactions input have populated both lo
24. ings in Savings Product Settings It will appear in Member Collection Sheet Collection Sheet is under End Of Period gt General gt Member Collection Sheet Planned saving a E T Time weighted method Minimum daily balance Minimum monthly balance Minimum quarterly balance Average daily balance Average monthly balance Other user defined NO NO Sd Interests payment frequency Daily Weekly Monthly Quaterly l Oooo SOS YES o O Voluntary deposits First saving with loan installments Compulsory saving collection before loan disbursement Term deposit simultation Deposits and withdrawal methods Cash Check Transfer Page 12 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd eS CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Additional Question from Consultant can you please illustrate this function with some practical examples Finance Solutions s answer Batch Transaction helps to post many transactions against one account Example Posting Staff salaries against Staff Salary A C Batch transfer ex salary of the employees wwo SSCS s SS is posted Closing with balance transfer Hard copies management passbook checks account statements YES Back dating of events recording YES Teller management Create a new teller YES Open Till YES The beginning of day cash is transferred from vault to a choosen till At the end of day c
25. l out 3 3 3 Training Cost USD 300 per day Help Desk assistance Maintenance included in the initial license 12 20 of licencing price yearly price cost TOTAL TOTAL Page 30 of 30
26. lly pricing outli STEPS OUTLINE Workload in men month on Workload in PRICING OUTLINE Duration in month s men month on Comments Recommendation Price in Comments the vendor side s product service the client side Specifications installation ae Duration and men month depends on parameterization and 1 2 2 size of the organization Core module License USD 1000 configuration Testing User Acceptance 1 2 3 Duration and men month depends on Additional modul e a A a tests size of the organization ional modules or customizatio ona Module Small clients can use FREE A Duration and men month depends on Sql Express edition Larger Pilot phase 1 2 3 size of the organization Database eenas clients should buy SQL SERVER from Microsoft NIL ae Duration and men month depends on Interface module Delivery Training 2 2 4 size of the organization Channel PSEA PECAN F Duration and men month depends on Implementation Fees and First branch roll out 1 2 3 size of the organization Expenses USD 300 per day Full roll out 12 12 12 Duration and men month depends on Training Cost USD 300 per day Help Desk assistance i i D o d men th d d 7 y r included in the initial license 12 pecans ee pelaienance 20 of licencing price cost size of the organization yearly price Page 27 of 30 CGAP Software s Name Finance Solutions 2009 Software Reviews PRICING
27. nt What is Discount Instruments Finance Solutions s answer This is where an institution deposits an amount with a bank kind of like bank placements but in this case they don t wait for the maturity date to come they are given the interest upfront upon depositing this amount When the maturity time arises the only collect the amount they deposited Other products and services core banking system EASE OF CONFIGURATION e a ce Calendar holidays working days Configuration printing Page 22 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd Eoc OCGAP AP EL EEE Finance Solutions ITEMS a LISTS FREE FREE ANS WERS DESCRIPTIONS COMMENTS ___ DESCRIPTIONS COMMENTS Configuration interface ergonomy SECURITY Z ea W Audit methodology a Unique teller identification number YES Traceability of products parametrization E Traceability of connections loggings E lt lt alo All transactions have a transaction number allocated to it all error corrected Aai eA can be traced including revered loan disbursment loan ayment savings shares etc Traceability of transactions lt m n You can use SQL server backup utility or third party Both manual and automatic you have to specify the routine if automatic is choosen Additional Question from Consultant It seems that there is no internal automatic back up Finance Solutions s answer Automatic backup has to be configured from M
28. nt core bankino sstem PO It captures Name Date of birth gender address telepone customer Client data such as name marital status age gender address home and 2 f work and activity YES category photo signature ID card number salutation language housing income number of children and there are 4 user definable fileds Group clients data such as name status members nb list leader YES It tracks group name member name group code address area code creation date meeting date customer catergory loan officer signature mandate group leader etc ES Yes it capture all this information there are four user definable fields that Village data such as name location status groups nb list leader registration dats Y users can edit the label to their choice of words e g they can change user definable field 1 to blood group etc Page 6 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd eS CGAP Software s Name Finance Solutions ITEMS CHOICE LISTS FREE ANSWERS DESCRIPTIONS COMMENTS The system has a browse clients this can show the cient behavior i e deposits withdrawal loan disbursments and repayments Additional Question from Consultant Where is it in the menu Facilities to check client behavior i e credit and deposit status and Finance Solutions s answer This menu is under the menu history either from external or internal sources Transactions gt Brows
29. o Microsoft Excel and its then later imported to a third party Export to external accounting packages specify which accounting software Treasury management Page 15 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd eS CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Can import data in Microsoft excel into Finance Solutions Additional Question from Consultant Can FS import directly accounting entries Db Cr without IT intervention Finance Solutions s answer Yes it can you can import Savings Shares and Loan repayments separately or you can import all i e savings shares Import from external accounting packages specify which and loans at once All these are in the End of Period menu You have to specify the savings shares product you are importing to and also specify the Cash Bank or transfer account Please not that for data to be imported it has to be formated in to an FS format e g for saving you specify the Name Account number and amount in MS Excel This doesn t need IT intervention Pes core banking system Pes eS End of period process day month year and approximate timing for 2 MINUTES FOR 5 000 5 minutes for 15 000 and 12 minutes for 50 000 and 25 minutes for 100 000 5 000 15 000 50 000 100 000 clients registered in system Trial Balance Balance Sheet Chart of Accounts Profit and Loss Cash Flow Review Balance Sheet Ca
30. om Consultant is there a mechanism of automatic Interbranch transactin a 2 clearing between branches in the HO accounts Finance Solutions s answer No it has to be cleared manually It is only cheques that can be set to clear automatically Additional Question from Consultant is there a mechanism of automatic clearing between branches in the HO accounts Finance Solutions s answer It is like Branch A client deposits money in Branch B It is also Inter Branch Transactions Additional Question from Consultant Precise what perform FS Finance Solutions s answer NO It can be done manually by creating GL and Account for a Bank and post transactions Interbranch funds transfer for clients local Z zZz Interbank funds transfer for clients local Additional Question from Consultant Precise what perform FS Finance Solutions s answer NO It can be done manually by creating GL and Account for a Bank and post transactions Aaheres 0 GAAP andor AS provons E SP OOOOOSOOCOCSCSCSCSCSCSCSCSCSCSC Y a a Supports French accountng standards aes o ESP OOCOCCCSCSC Possible modifications to meet local legal requirements central bank YES supervisory regulations or business requirements Page 14 of 30 International funds transfer for clients 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd BR cca CGAP Software s Name Finance Solutions ITEMS CHOICE LISTS FREE ANSWERS DESCRIPTIONS COMMENTS
31. r can also create their own reports using third party report tools like Crystal reports User defined reports Possibility to perform trend analysis comparisons i e this month vs last month payment performance analysis Additional Question from Consultant Is this an internal tool Finance Solutions s answer There is user definable Financial reports YES YES YES YES NO VES All reports have the option to view from a specified date to a given date all this can be in the same month or other months Export utility Word Excel other format You can export to Word Excel PDF XML RTF Image Jpg GIF BMP YES Additional functionalities Sa You can configure automatic check clearing at a start of a session this will depend on the number of days set to clear a check Additional Question from Consultant Where is in the menu the cheque management Finance Solutions s answer From the Admin menu General Settings Check management core banking system junder the General Tab there is an option to enable automatic cheque clearing at the start of a session Still from the Admin menu Accounts Settings Define Cash Bank Transfer Accounts when you create an account you select if it is a Cheque account Cash account Bank or transfer account Manual cheque clearing is in Menu Transactions gt Cheque Clearing Page 21 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd eS OCG AP Software
32. s linked to deposit monitoring with ability to block access to forced savings where appropriate Additional Question from Consultant Confirm that this function exist Forced deposits linked to instalment schedule as a separate option YES Finance Solutions s answer We think this is Loan Gurantee Savings Deposit for a loan If so we have it in Loan Product Settings Finance Solutions supports both Cash cheque Bank and Transfer accounts all you have to do is define them from the admin menu Additional Question from Consultant Can collateral be freed progressively while the client reimburse the loan Finance Solutions s answer There is no control on collateral It is just a field It can be filled while disbursing a loan Collateral cash and non cash tracking Page 8 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd eS CGAP Software s Name Finance Solutions ITEMS CHOICE LISTS FREE ANSWERS DESCRIPTIONS COMMENTS Additional Question from Consultant Clarification needed on guarantors Are guarantors tracked amount of guarantees given loans amounts taken warning etc Finance Solutions s answer Gurantors can be tracked you can see the number of Loans they have guaranteed for the amount the outstanding balance the expiry date There is a reports called Loan guarantors report under the Reports gt Back Office gt Loans Reports gt Loan Guarantors Report Guarantor tracking and n
33. s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Finance Solutions has a Forex module with many reports i e FX Account statement Foreign Currency Revaluation FX account status report Additional Question from Consultant What does the new Forex module Money exchange service core banking system bring on top of the Multi currency features that the system has Finance Solutions s answer Forex module does Sale Buy different foreign currencies and there are few reports to motitor currency trancations There is a loan appraisal module Additional Question from Consultant This is not Credit scoring which is Credit scoring core banking system based on algorithm and historical data Finance Solutions s answer Yes it is not based on Historical data Customer relationship management Po Additional Question from Consultant It seems that this module doesn t exist in FS HR administration core banking system fi i TE oe Finance Solutions s answer This is not in the system yet You can transfer monthly amount to customer account this is done at the end of the month all you have to specify is the amount each of the employees earn and then when the month end reaches upon receiving their payment cheques this amount can be automatically transfered to their account Batch transfer functionality core banking system Fixed Assests management Discount Instruments Interbranch transactions Additional Question from Consulta
34. s all the client details 2 as ai ves Yes this can be printed out there is a report that has all the dlient details Loan management e Integrated with accounting system Its linked to the general ledger There is no limit to the number of Loan products allowed in Finance Number of products allowed Solutions You can have agric loans solar loans commerial loans short term loans education loans car loans etc Loan products can be modified the product settings like interest rate minimum loan amount maximum loan amount method of closing aloan payment frequency interest caluation method etc Permits the addition and modification of loan products Lending methodologies E Individual clients Solidarity groups with individual loans It supports It supports It supports Solidarity groups with group loans Village banks with individual loans Page 7 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Village banks with group loans It Supports Methodologies of interest calculation available Flat YES You can have declining balance as discounted amortization daily rate equal due and declining balance equal installments YES Floating Variable rate C Daily interest calculation with weekly or monthly installments on Pes fee principal outstanding E a Declining balance Forced deposit
35. ses Pousung ST E T Page 5 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee OCG AP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Targeted new clients for next 3 years Po Commercial Banks According to you who are your 3 main competitors as microfinance software editor z M2 Southern Horizon Loan Performer Crystal Clear Software Bankers urrent competitors Relm Craft Silcon stimated future competitors Relm Craft Silcon e merge 1 Local Area and Wide Area Network Client Server Application 2 Multi currency Multi lingual Multi users 3 All modules are integrated in one application Savings Shares Loans Accounting Fixed Assets Fixed Deposit Forex Bank Placements Discount Instruments Stock etc 4 Ease of use Management Reporting Consistent screens TOOLBAR The five major strengths of your software easily identifiable menu options and logical use of color and icons Portfolio reports Financial Reports Analysis reports Management reports export in different formats eg PDF Excel Word HTML XML DBF image RTF etc 5 Data Security 12 user definable user groups with different access rights complete audit trail SQL Server database as backend time out limit cash non cash transaction authorization no of back days for a transaction error corrections can be set per user FUNCTIONAL COVERAGE Client Information Manageme
36. sh Flow Review Balance Sheet Budget Variance Report Additional Question from Consultant Where is it in the menu Finance Solutions s answer From the End of Period gt Shares gt Shares Dividends calculation Dividents Calculations Settings are in menu Product Settings gt Shares Product settings Pp Pp ES ES Flexibility Consolidation Possible network configurations Single PC Decentralised There is a provision to merge data of the different branches at the head office This helps to produce consilidated reports ae Additional Question from Consultant is this a merge of the full DB or of Decentralised with consolidation tool Mion ba A ER Re EDGR AGRA LG the incremental transactions only Finance Solutions s answer It is a merge of the Full Database Page 16 of 30 YES YES YES YES YES YES YES YES YES YES YES 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Yes with the help of replication Additional Question from Consultant Centralised on line means that the application is able to work on a WAN on a client server basis and not in remote view mode MS TSO Finance Solutions s answer The WAN setup works with windows server 2000 and above with the help of Active directory services and domain When this is done each remote branch should have a domain controller and a primary doma
37. ts all Savings Loans Shares are entered from the the Chart of accounts this gives it 100 Integrated with accounting system intergration to the accounting side as all savings reports produced will be reflected in the Financial reports like Balance Sheet Trial Balance chart of accounts etc e A e E T e E T e E T e E T Taxes management on loan products Provide a list of standart documents with example contracts repayment schedules account statement Page 11 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee CGAP Software s Name Finance Solutions ITEMS FREE ANSWERS DESCRIPTIONS COMMENTS Additional Question from Consultant Planned saving is a plan where the customer agree to deposit a specific amount at a specific frequence of time in order to obtain the agreed interest otherwise it could be lost Confirm if this feature exist Finance Solutions s answer Finance Solutions supports unlimited savings products you first have to add it to the chart of accounts and later define it as a savings product each can have its own settings done for it like interest rate transaction fee expected period savings accrued interest etc Please check the Admin menu Product settings savings product settings Additional Question from Consultant It is important that you explain how it works For what stands Expected period saving fields Finance Solutions s answer If you set Expected Period Sav
38. umber of guarantors per loan Loan simulation including production of installments schedule S E Payment Types Term loans with constant payments ES E Irregular payments set by the user E Term loans with constant principal Balloon schedule interest only instalments and principal at the end E Possibility to choose order of repayment between Penalties Interest E and Capital Other user defined i S S S S S Payment frequencies E Daily E Weekly Biweekly E Every 4 weeks Monthly E E E E S S S S S Bimonthly S Quarterly every 3 months ES ES ES Payment year supported O O s O O 360 days 30 days month YE e E T e E T e Cees O S Bullet loan single repayment Other user defined Page 9 of 30 2009 Software Reviews Company s Name Sigma Data amp Computers Ltd ee CGAP Software s Name Finance Solutions ITEMS CHOICE LISTS FREE ANSWERS DESCRIPTIONS COMMENTS Late payment grace period YES Cn O COO ES o O When clients default they will automatically appear in the Loan arrears report Finance Solutions also has a Loan arrears by age report Loan dues amp arrears during a period report Loan arrears dues amp repayments during aperiod report All this is information is directly linked to GL in the chart of accounts With regard to repayments on time early partial and late repayments are well handled in the system late repayment
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