The Executive Board led by the Chairman, Treasurer, Credit Team as well as the Supervisory team together with the Information Communication Technology consultant, the office administrator and the new intern, all attended training for the new ICT system to aid in the Sacco operations known as the ESACCO SYSTEM.
Esacco is a Cloud Microfinance & SACCO Software System engineered to comprehensively serve Microfinance Institutions, SACCOs, Community Banks, Credit Organizations, Chamas, Self Help Groups, Banks, among other Financial Institutions.
BENEFIT OF THE ESSACO MANAGEMENT SYSTEM
● A major advantage of ESACCO is that it provides easy access to accurate and up-to-date information. For example, loan officers get information on loans that need follow-up; SACCO management can monitor daily progress of the SACCO, and can get a full picture of the portfolio performance and quality. Members also get quick information on their accounts, savings and loan balances.
● Detailed information is captured on members and their activities that can then be used to assess member’s portfolio to
assess impact. It is also useful in tracking historical information of the members.
● Activities, such as disbursements, repayments, deposits, withdrawals and money transfers are completed faster, better controlled and with minimum opportunity for errors.
● Information is produced in user-required formats, which facilitates better understanding, setting priorities, objectives and strategy.
● Key performance indicators provide an overview of the organization’s performance, efficiency and effectiveness of
business procedures so that timely adjustments can be made.
● Use of ESACCO helps SACCO services to be more interactive, accessible and transparent.
The system has been deployed to several institutions which is a success story
Straight Sacco – Employee sacco– Thika
Transwest Sacco – Business Sacco – Kitale
Umoinner Sacco – Matatu and Business Sacco – Nairobi
Western Shuttle Sacco – Matatu Sacco – Kakamega
Grand Paint Sacco – Employee Sacco – Industrial Area