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In order to increase the amount and frequency of market information on more Information Systems (IS) products, CGAP decided to change the format and depth of the software reviews it had been offering in their online repository of information on nearly 50 information systems products and independent reviews of 12 such products.
The new software reviews are shorter than before. They are based on information provided by the product vendors, an analysis of the demo version of the IS product through test cases, and user feedback from at least 3 MFIs. Reviews are sponsored by CGAP and managed by Horus Development Finance, an independent consulting firm. Horus collects data from both vendor and customers, supervises the independent reviewer, and coordinates the review process.
All of the reviews include five sections described below.
It is important to note that these software applications are not being compared against one another; rather, the applications are being compared to generally accepted industry standards, either in microfinance, software, or accounting. Some applications are meant to serve large regulated banks or credit unions, and others are meant to serve the needs of medium to small microfinance organizations.
Institutional Fit
The first section explains what type of institution the product fits best with based on its functional and technical specifications: size of the institution, budget, target audience, IT expertise required, functionality.
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Summary
The second section includes a summary of the review and justifies the general opinion of the independent evaluator of the IS product.
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Evaluations
The third section evaluates the software on specific criteria outlined below. The rating scale used for the evaluation is a four-point scale.
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· Functionality: This category rates the functional coverage of the IS products related to loan portfolio management, deposits, share, client information management, accounting
· Ease of Use: This category looks at the navigational architecture, the user resources, and the intuitiveness of the interface. It emphasizes the user feedback in particular regarding the product satisfaction, as well as the operational improvement due to the implementation of the IS product.
· Management Reporting and Data Analysis: This category looks at the ability of each system to provide useful information to different categories of users.
· Services: This category is related to all the services provided by the software provider, including implementation, training and technical support. The rating gives heavy emphasis to user satisfaction.
· Technical Capabilities: This category gives the greatest weight to architecture and connectivity, development tools and methods. But it also rates backup, recovery and security capabilities of the software. In addition, there will be an added emphasis on interoperability to reflect the growing need for microfinance systems to communicate with external systems.
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Installations (By Region)
The fourth section is based on information provided by the software provider and will indicate the number of customers per country.
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Cost Summary
The last section provides information about licensing and maintenance costs, as well as costs for consulting services. When available, estimates for the necessary volume of consulting works for the implementation process will be given, according to the client’s level of experience. These are generic estimates to help in evaluating the technology and implementation and cannot take into account your organizations’ specific needs.
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Disclaimer: These reviews are conducted by independent reviewers contracted by CGAP. Neither CGAP nor the participating vendor assume responsibility for the completeness or accuracy of any information contained in this report. Neither CGAP nor the participating vendor will be liable for any damages, or losses suffered due to decisions based on the information provided in this report.
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