Prowered By

SavingsPlus

The Most

Intuitive Microfinance

Software

  • Runs on both Linux & Windows
    Runs on both Linux & Windows
  • Unlimited Users for No Extra Cost
    Unlimited Users for No Extra Cost
  • Web-Based And Can Be Installed Onsite or Hosted Online
    Web-Based And Can Be Installed Onsite or Hosted Online

News Flash

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Remarks By Hon. Dr. Ham-Mukasa Mulira, Minister Of Information And Communication Technology At The Launch Of Savings Plus Software On 16th February 2008, Kampala, Uganda We are gathered here today, to celebrate the achievements in the ICT sector while affirming that indeed, ICT can work for, and improve the... Read more
FLT CEO Interviewed By Daily Monitor'S Smart Money Magazine HOW TO IDENTIFY IDEAL BUSINESS PARTNERS His was a passion to influence people for good but he neither knew how nor with whom. Mr Vincent... Read more
Presentation At The Launch Of Savings Plus Software On The 16Th Feb 2008 At Grand Imperial Hotel – Kampala. TOPIC: Enhancing The Quality of Life Using SoftwareBy Mr Tumwijukye Vincent – Chief Executive Officer (FLT) The Guest of Honour, Hon Minister for... Read more
ICT For Development Conference In 2008, FLT organized and sponsored together with UGANDA TELECOM, an ICT FOR DEVELOPMENT Conference. This was held at Grand Imperial Hotel on the... Read more
Savings Plus Makes Headlines Once Again SOFTWARE MAKES FINANCIAL REPORTING EASIER By Daily Monitor (April 19, 2010) Gone are the days when many business entities would require... Read more

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Savings Plus Makes Headlines Once Again

SOFTWARE MAKES FINANCIAL REPORTING EASIER By Daily Monitor (April 19, 2010)

Gone are the days when many business entities would require calculators to sum up all their transactions. Back in 2007, Mr Joseph Muteekanga, the data officer at Kamwokya Christian Caring Community Sacco, says it was even worse as each member of the Sacco had a card which had to be updated from time-to-time.

We had over 5,000 customers and each of them had a ledger card in the shelves. Whenever they would come, it was a task to peruse through and get the form, he told Smart Money last week. However, his energy and time have been saved since the company embraced Savings Plus software.

By just a click, we are able to know how much money has been borrowed, how much has been repaid and how much is expected after a given duration, he says it was time consuming to earlier know how many people had borrowed loans in a given category as Microsoft excel does not breakdown all the required categories.

We had to count the ledger forms and arrange them accordingly into institution accounts, minor savings, deposits accounts and other categories, Mr Muteekanga says.


He adds that for every transaction, the tellers enter the information directly in the Savings Plus interface hence enabling accountability as it is automated. If the money in the counter does not tally with what’s reflected on the Savings Plus, he says, the parties concerned will automatically realise.

At the Uganda Breweries Limited Sacco, there’s no need for an extra cost to hire a second accounting software as long as Savings Plus is available.

We no longer need an additional accounting software as it was previously. Savings Plus, in addition to managing banking transactions, manages other elements of accounting such as stock, accounts and loans payable, fixed assets, expenses and others, Mr Moses Arorwa, the treasurer of UBL Sacco told Smart Money.


What is savings Plus?
Mr Vincent Tumwijukye, the Chief Executive Officer Future Link Technologies (FLT), says Savings Plus is a banking software that handles financial records and statements, banking transactions (deposits, withdrawals), loans, and many other records for savings and Credit Co-operatives (Saccos) of any size.

He says it comprises of 11 key modules which make the management and tracking of savings and loans easy and it also generates all reports that are relevant to the management of a Sacco both for internal and external reporting.

It is a server client application able to run on a wide area network. The multi user license supports hundreds of simultaneous user connections. Adding users does not require the client to pay more. It is simply adding the work station to the network, he told Smart Money. Another beauty about the product is that it can support 200,000 clients with 9,999,999 account numbers available.

The software, he says, generates hundreds of reports that are relevant to the management of micro finances, Saccos and regulatory bodies. It produces compatible reports, ensuring international standard reporting. He is optimistic that the software is able to even penetrate the least disadvantaged as it doesn’t require internet to operate.

Officers are flexible enough to penetrate the majority poor, even where there is no electricity, he says adding that as it is web based, it is also possible for companies to give information to their clients even when they are away from the work place by use of their mobile phones.

The key functionalities of Savings Plus include: Loan portfolio management and savings/shares management chart of accounts.

Under the loan portfolio management, Mr Tumwijukye says there is ability to create thousands of loan products and categorise them per industry, purpose, length of loan period and income of the target groups with automatic calculation of interest.

He adds that it also acts as a reminder as it keeps the record of the payback schedule.

It indicates when a loan bearer is about to default and the lender can sound a reminder and if a client defaults, the system automatically highlights in red, he says.

The software is cheap and can affordable for many banking institutions.

For only Shs1 million, a client gets savings Plus installed, staff training and data migrated into savings Plus, Mr Tumwijukye says.