[Mifos-developer] FW: [loanperformer] RE: Invitation to MIX pilot program for microfinance software providers

35 views
Skip to first unread message

Emily Tucker

unread,
Nov 4, 2011, 12:11:01 PM11/4/11
to Mifos software development, A good place to start for users or folks new to Mifos.

Hi Folks,

 

I saw this email come across the loan performer mailing list.  I know we experimented with the Mix stuff—but things were still so early stage for MIX, it didn’t make sense to continue.

 

Anyways, something we may want to consider for Mifos.


Emily.

 

From: loanpe...@yahoogroups.com [mailto:loanpe...@yahoogroups.com] On Behalf Of Hans Verkoijen
Sent: Saturday, October 01, 2011 12:45 AM
To: sg...@themix.org
Cc: br...@4barnetts.com; 'Mburu Antony'; loanpe...@yahoogroups.com
Subject: [loanperformer] RE: Invitation to MIX pilot program for microfinance software providers

 

 

Dear Scott

 

Thanks for the invitation. We are glad to participate.

 

We welcome the fact that there would be a uniform reporting standard for micro-finance institutions. We find it increasingly difficult to integrate more and more regulatory reports into Loan Performer. Each country seems to have its own standard for reporting. We have seen the PMT Tool in Uganda, the BCEAO reports for West Africa, the DRC has recently created it’s own reports, we also got a request from Burundi, Azerbadijan wants their own specific XML report and we just received a load of reports that are required in Madagascar. Image we are with Loan Performer in 50 different countries and each country wants its own reporting standard. This is the looming picture that is developing at the moment. A uniform reporting standard is very much appreciated by us. I only it could replace all the country specific standards?

 

PS I have copied this reply on the Loan Performer users email list. Hope that is alright?

 

Kind regards,
Hans Verkoijen
Crystal Clear Software Ltd.
PO Box 7463 Kampala, Uganda
King Fahd Plaza, 3rd floor, 52 Kampala Road
Tel: ++256-41-4-231739 Fax ++256-41-4-233644
Email: verk...@imul.com or c...@infocom.co.ug
Web: www.loanperformer.com


 

 

 

From: Crystal Clear Software [mailto:c...@infocom.co.ug]
Sent: 30 September 2011 17:08
To: 'Hans Verkoijen'
Subject: FW: Invitation to MIX pilot program for microfinance software providers

 

 

 

From: no-r...@salesforce.com [mailto:no-r...@salesforce.com] On Behalf Of Scott Gaul
Sent: Friday, September 30, 2011 4:51 PM
To: c...@infocom.co.ug
Cc: br...@4barnetts.com
Subject: Invitation to MIX pilot program for microfinance software providers

 

Image removed by sender.

Dear Hans,

I am writing to you about a proposed pilot program to improve the value of software systems used by MFIs.  After research in this area, through the support of the MasterCard Foundation, we are now in a position to move forward with that program. We would like to invite Crystal Clear Software, Ltd. to participate in this pilot program. Please review the information below and let us know if your company would be interested in pursuing this opportunity with MIX.

MIX Commitment to XBRL
MFIs rely on back-office systems not only for internal reports, but to produce reports for investors, associations, regulators and other external stakeholders. Recent research by MIX suggests that, despite reliance on sophisticated MIS systems, preparation of these reports still requires significant time and manual effort.  As an important first step in addressing this problem, MIX has adopted XBRL as a standard for modeling and transfer of microfinance data, and created a comprehensive XBRL taxonomy that captures financial and social data and combines international financial reporting standards and microfinance industry standards. We also work with the Global Impact Investing Network (GIIN) on disseminating XBRL content to other users, including impact investors, and thus we will have parallel development related to standards for XBRL data transfer.  Collectively, these improvements can dramatically reduce the reporting burden for MFIs while increasing the quality and timeliness of data received by external stakeholders but only if software systems used in the microfinance industry support XML reports that comply with the MIX taxonomy. Our goal is to find ways to encourage software companies to support XML reports and, in particular, reports that comply with the MIX XBRL standard.

Proposed Pilot XBRL Program
We propose to conduct a pilot program with a select number of microfinance software vendors to adapt their software packages to produce a well-formed XBRL document that can be read directly into our database for publication on the MIX Market site. We anticipate this functionality will present different challenges for different vendors.  Our goal is to learn about these challenges to better understand how to support vendors in this effort.  We seek to work with software providers who are prepared to join with others in sharing their experience integrating XBRL reporting into their offering.  We understand and respect the need to protect proprietary information, but we also believe that there is much to be gained by soliciting direct feedback from vendors moving down this path.

Potential for Software Certification
Software that supports streamlined reporting using a common format will ultimately have significant added value for MFIs. MIX is thus considering a proposal to adopt a software certification program, offering vendors a significant tool to communicate the true value of XBRL reporting.  A second goal of the proposed pilot program is to evaluate the potential value to vendors of such a certification program. Your participation in the pilot program will be invaluable in helping to refine our plans for software certification.

A Limited Commitment
The precise format of the pilot program has not yet been determined, as that program will need to be adapted to the needs and constraints of those participating. We do anticipate that participating vendors will commit to the following:

  • Designate a single point of contact to represent the company and manage communications with other company personnel.
  • Participate in one or two meetings of perhaps ½ to 1 day to discuss technical issues with MIX personnel.
  • Respond online to questions and discussion topics posted online as appropriate.

If your company would be interested in being a part of this important movement for innovation in microfinance reporting, please reply to this email and we will follow up with a phone call to discuss particulars with you or someone you designate to represent your company.

Thank you,

Scott Gaul
Director of Analysis
MIX

Bryan Barnett
Consultant

Image removed by sender.

Image removed by sender.

__._,_.___

Recent Activity:

·         New Members 1

To Post a message, send it to:   loanpe...@eGroups.com
To Unsubscribe, send a blank message to: loanperforme...@eGroups.com

.

__,_._,___

image001.jpg

Udai Gupta

unread,
Nov 4, 2011, 12:29:06 PM11/4/11
to Mifos software development, A good place to start for users or folks new to Mifos.
Here is the work that was done.


Udai

------------------------------------------------------------------------------
RSA(R) Conference 2012
Save $700 by Nov 18
Register now
http://p.sf.net/sfu/rsa-sfdev2dev1
Mifos-developer mailing list
mifos-d...@lists.sourceforge.net
Unsubscribe or change settings at:
https://lists.sourceforge.net/lists/listinfo/mifos-developer

image001.jpg

Ed Cable

unread,
Nov 4, 2011, 12:32:49 PM11/4/11
to A good place to start for users or folks new to Mifos., Mifos software development
Thanks Emily for forwarding and thanks Udai for passing on these links.

I had discussed this with John Woodlock a little while ago and will pick up the thread once again.

I will reach out to Bryan to get details on how to possibly be a part of the pilot program if it is a fit.

Ed

_______________________________________________
Mifos-users mailing list
Mifos...@lists.sourceforge.net
https://lists.sourceforge.net/lists/listinfo/mifos-users


image001.jpg
Reply all
Reply to author
Forward
0 new messages