The fact that co-operative financial institutions, in addition to municipal saving banks, have had the most prolonged and successful experience in the mobilization of microsavings and microlending is uncontroversial and has contributed tremendously towards income generation.
The existence of functioning cooperative societies leaves a positive mark on the economic and social structure of a country since co-operatives develop on the basis of local initiative and local economic strength. In the context of globalization, co-operatives are particularly well-equipped to combine the advantage of local activities with regional and national networking within the system. What they need to do is adapt their structures and operations accordingly, thus contributing considerably not just to strengthening their members but the local/regional economic structure in which they are operating.
Bankers Realm Core Microfinance Solutions (BR MFS), a solution from Craft Silicon that supports all functionalities for Savings and Credit Co-operative Organizations (SACCO), is more than just conventional software.All financial softwares are supposed to do credit and debit movements, but BR MFS Solution for SACCO does much more than these basics. The software is fully loaded with visual reporting functionality, risk analysis, performance analysis, income/expense ratio, etc. This helps the management to analyze information in an intelligent manner. Added functionality like drag and drop, plug and play, and friendly interface makes it ideal for both hard core operators and hard core managers. The product has been further enhanced to generate some of the key ratios and indicators that are documented in the MIS guidelines from World Council of Credit Unions (WOCCU) and Consultative Group to Assist the Poor (CGAP).