CLOUD MICROFINANCE SYSTEM
Cloud……???? What is Cloud Services – This are services mode available to user on demand via the internet. This is offered form a cloud computing provider’s server. This brings us to the contract or comparative of the on-premises servers. Any resource that is providing over the internet is entirely cloud and it has elasticity in services. Cloud is basically a metaphor for the internet. Cloud lest you focus on business rather than on your software. The providers worries about scalability, security, uptime, application maintenance and system upgrade. The Cloud has several benefits that are vital to the choice to go cloud. The concept of cloud lets one run computer application over the internet without buying, installing or manage your own server. One can run the application with just a browser and internet connection.
Cloud microfinance means that the organization will run or use a hosted system in the service provider or vendors server. The organization will gain access on a given URL that will be starting forum to access the system and serve its clients. All transaction services are handled in the cloud as loan application, approval;, guaranteeing and disbursement are the main services offered by a Microfinance. A cloud Microfinance enables members to access the system through creation of a Dashboard. Clients are able to login after creating an account. One is able to request for a loan, guarantee another client. The cloud microfinance has as usual pros and cons. Some Microfinance cannot adhere or come to understanding of using a cloud microfinance system. Yes, the issue of security is a major concern and each vendor seeks to prove that the hosting services are independent and so is the system hosted. The aggregate optimum of cloud microfinance is the backup that is always in the frontline of its features. One rest assured that no matter whatever happens the back-up will enable the organization to proceed where they might have stopped.
Cloud microfinance gives room for the organization managers to rest and look into other things. They don’t need to worry about maintenance and support, or scalability. The service provider takes care of that. The ease of access for Cloud Microfincae is a phenomenon idea. In a meeting, reports are generated not in hardcopy but softcopy. The minimizing on printing makes it easier for an organization to cut on printing costs, Smartphone’s and Tablets are lighter gadgets that don’t deserve a magnitude of space. Cloud microfinance is accessible through this devices and since in the century we are in 98% own Smartphone’s, everywhere anywhere one can have access to the system. The field officers, with integration are able to send reports, perform loan application procedure, collect payment and the transactions reflect in the client’s accounts.
Intellectually cloud microfinance not only saves on revenue but increases income big time. Servers are expensive and even more expensive to maintain. Internet connection and a browser are easy to get, which makes cloud microfinance a better working platform. Cloud allows integration of mobile money transfer so an organization should not worry about money transfer.
The cloud microfinance is low overhead as supervision of upgrade and system administration is managed by the vendor as it is cloud. We cannot forget about the ease of access, high availability, just needs internet and a browser, Kwisha you can run your system. The last but not the least is security and fast deployment, Saas provides better level of security and availability, disaster recovery and the most important…Backup. Fast deployment in regards it is easier and fast to deploy compared to installation and troubleshooting conventional servers or software. The optimized performance is a characteristic of a cloud microfinance as your business adjust accordingly. The subscription based pricing offers one to pay for what you are using. This brings along he benefit for better cash flow and information technology flexibility. The subscription varies as there is the monthly or the annual basis subscription. Cloud microfinance enables an organization to concentrate on the organization growth and not the software and upgrade. Big time opportunity for microfinance is to adopt cloud version software.