About Usha Financial
Usha Financial Services Private Limited was started nearly 22 years ago driven by the purpose of transforming the livelihood of underprivileged people and helping them set up an environment where they could flourish. Their prime focus was to extend a line of credit to those who lack banking access but have the enthusiasm to discover an opportunity amidst all the adversity. After taking great efforts to identify these small dreams and turning them into solid success stories, backed by the trust of their loyal customers they fueled their own dream to establish Usha Financials as the largest retail-finance company in the country.
Usha Financials have been using an MFI software from a local vendor. Since the software did not have an integrated accounting module, they had to maintain their accounts separately in a traditional accounting software. This process of maintaining a dual set of records was too time-consuming as it increased the manual interventions, inviting more errors, paving the way for compliance issues, and slowed down the loan process for customers. All these redundant activities hindered the growth of Usha Financials and the fragmented approach of storing data made the aspect of retrieving business intelligence reports a nightmare.
Habile Technologies enabled Usha Financials to address their challenges with a process driven situation which not only automated the entire loan lifecycle, but also offered an integrated accounting module and a robust business analytics engine. The self-contained accounting module of Finabile offered all the features by the traditional accounting system in the loan management software and ease down the complications in accounting, reduced the manual intervention, improved the loan TAT and provided them with an easy way monitor their bottom-line and streamline their workflow.
Finabile completely automated the financial accounting needs of Usha Financials and helped them achieve high standards of operational excellence by reducing the manual intervention, improving the efficiency of their staff and speeding up the turnaround time of loan lifecycle. Our intelligent business reporting module generated insightful reports in a matter of minutes which helped them interpret, analyze and take informed business decisions to gain substantial competitive advantage and improved their profitability by making their organisation more analytically focused.