With the increase in IT literacy and Development in digital technologies. More and more customers are using online solutions for their daily needs. And as more and more banks are encouraging their customers for online transactions & digital banking, it has become very essential for the NBFC’s & Lending Solutions owners to provide the similar solutions to their customers. Having a customer self help portal not only helps in resolving customer problems in real-time but also increases the customer acquisition rate of the company. Having a Online presence also helps the company in reducing the on-field marketing & sales cost. Online software also reduce the companies cost for in-house IT infrastructure management and maintenance operations. Nowadays cloud software’s are self efficient enough to take regular backups and keeps the data safe for future use.
CloudNBFC Software is been made specifically for the NBFC’s and Money Lending businesses to help them reshape their business process and make it more customer friendly and easy to manage.
Major problems faced by the NBFC’s in their day to day operations can be easily classified into 4 categories
2)Real-time sales inquiry & approval.
3)Day to day work and task management.
4)Daily EMI collection status
5)On-field Employee location tracking.
Looking at these problems closely one gets to understand that the current software systems are made for the accounts management instead of business management. Though the software’s perform accounting task perfectly but, they tend to create problems with other aspects of the business which makes the business management a hectic task. Over load of redundant data increases its maintenance cost & reduces its performance over the years.
A simple and customer centric approach towards the software development was the solutions to all the problems faced by the NBFCS’s. So we developed a software in which the customer was always in the center of every department. We made a single customer data access base which could be used by any department at anytime as per their need. This database compromised of various customer details such as, Customer Name, Customer Contact Details, Customer ID’s, Customer Loan Details, Customer Transaction Details. Handling all these details from a single control point reduces data loss & theft risk, it also reduces memory load on computers used by employees.
In the traditional systems where the software would save all the data in the respective branch making it impossible to maintain the local server and format it from time to time due to data corruption risk. Where as in the Cloud architecture the data is stored in a high performance sever which is accessible from any branch. This database is set from a auto backup from time to time to reduce the data loss during any unfortunate condition . The cloud sever is maintained by highly trained network engineer. And having a single server to maintain reduces the systems maintenance cost.
CloudNBFC software was developed to make the NBFC’s more and more paperless, So we provide android applications for various On-field teams and Customers. In the old systems where it would take a long time and travelling expenses to deliver a customers inquiry file at your office the Android Application for the sales team does this task in less than 10 min. This has lead to increase the inquiry to response rates and has shown a prominent growth in the sales of the company. Similarly the for the recovery teams it was unable to get accurate information about the defaulter customer. Similarly it was almost impossible for the admin to monitor the status of money or mortgage recovery done from the customer by the recovery executives. The CloudNBFC provides a simple recovery app for the executives to access the data of defaulted customers and collecting money through them which updates the recovery status in the admin panel in the real time. It also stores the location of the executive when he did the recovery for further security and legal proof.
Apart from this the CloudNBFC software performs all the day to day accounting tasks such as emi calculations, income calculations, business calculations and audit reports on its own. And gives the admin the freedom to access this reports as per his convenience.
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