Manage your credit portfolio
Keeping on top of overdue loan repayments can be a daunting task, especially if customers are spread over a wide area with poor infrastructure.
The Advanced Credit Management module in Abacus allows the setup of workflow actions to recover delinquent accounts and to automatically generate a daily or weekly task list. Actions are driven by the daily aging of overdue instalments, and highly visible “traffic light” indicators sort proposed activities by priority. This means that the maximum amount of time is spent dealing with delinquent accounts and not just compiling the list.
Abacus is integrated with Skype, and the time and date of calls made are automatically recorded in the individual’s Loan Review File. History of actions taken is maintained in case of the need for litigation, and for reference in future loan applications.
Proven Banking Functionality
Abacus provides full banking functionality options, with live commercial and development bank clients – including deposit and current accounts, cheques, overdrafts, commercial lines of credit, foreign currency transactions and connection to ATM/POS and mobile wallets, SMS alerts, plus internet and mobile banking.
Abacus has many tools for improving efficiency and controlling operational costs. For example high-volume repayments and disbursements can be entered automatically by only recording exceptions. This reduces not only effort, but also errors from rekeying. Where saving/deposit accounts are in use, loan disbursements and repayments can be made to from deposit accounts automatically. All fees, charges and GL postings are made automatically by scheduled Abacus operations and with transaction posting linked to the Chart of Accounts.
Customisation without Coding
All of the features mentioned above are “point and click” settings, made via the standard Abacus user interface (for authorised users only). Moreover, Abacus has an unlimited set of user-defined fields (UDFs) and analysis codes allowing extension of the system to build in new indicators and data fields. These can be financial or non-financial in nature – users can be asked to key in free-form data or to select from drop-down list. No programming or technical skills are required and you can set up as many user-defined fields and analysis codes as needed, and add to them at any time. As modifications to Abacus do not require coding, Fern has been able to maintain a single code base for all clients, dramatically easing support, bug-fixing, training and upgrading to new versions.
Reporting and Analysis
Abacus has over 100 standard reports for network members on a wide range of topics such as financial reports, portfolio quality reports, and GL analysis and investigation reports. In addition, new reports can be written using Microsoft SQL Reporting Services or Crystal Reports, and data can be extracted in Excel format or integrated with business intelligence tools to enable social impact, central bank or other external reporting. In addition you may set up your most commonly used reports under a separate Main Menu option “My Reports” for easy access. Pre-configured settings mean that you can produce consistent reports very quickly.
Interested to know more about Abacus and how Fern Software works with you? Click here to request for our Fern Software brochures!