Society for Social Development
About Society for Social Development (SOSOD)
As the name suggests the SOSOD (Society for Social Development) is a registered NGO (Non-Governmental Organisation) dedicated to promoting a people-centred development by working for the welfare, social and economic empowerment of the poor, destitute, and marginalized section of the Indian society through technology-led innovations. Located at Nagercoil, they are contributing towards the upliftment of the rural poor in South India through informal education programs, offering small loans to promote skilled labour, and taking initiatives for creating a sustainable environment.
SOSOD was initially using a software called Open CBS as their primary loan software, and they invested a substantial amount in procuring it just recently. But, even with Open CBS as their primary loan management software, they had to undergo the trouble of making a significant amount of manual entries, when it came to the repayment schedule and product configurations. Their primary objective of automating the loan process by standardising all the manual processes was not achieved. The current banking module was only semi-automated, and so the process inefficiencies were still not addressed properly.
Habile Technologies offered SOSOD a flexible technology solution to completely automate their loan process and optimise their business workflow. Finable provided SOSOD an end-to-end loan management platform which delivers everything from loan origination to collections and complete portfolio optimisation with a one stop solution. This integration of financial accounting, portfolio management and business intelligence in a single solution reduced a considerable of complexities and helped them inject more transparency in the process workflow while bringing down the amount spent on IT infrastructure drastically.
SOSOD found our integrated banking suite to be an extensive application that addressed their pre-requisites to the tee at a nominal price. The robust technological platform offered by Finabile helped SOSOD to automate their workflow, reduce the manual labour and empower the loan officers in the organisation enabling them to meet the growing demand for exceptional service thus creating a boundless scope for growth.