- Scope: Web Application Development
- Client : Investment Groups (Chamas)
- Technologies Used: Codeigniter Framework, HTML5
- Year: Started June 2013 - Currently Deployed and improving
We have started a social enterprise within our company that has created a new software product(www.chamasoft.com) which enables informal savings and investment groups to keep their records, promote transparency and sustainability of the groups.
Chamasoft is a book keeping tool for investment groups. It performs the following functions;
Chamasoft allows one to register all members on the system where one can keep a directory of all member contacts, plus members are provided access to their chama records online.
Bank Account Management
Chamasoft allows one to record withdrawals, transfers and deposits that are performed on the chama bank accounts so as to be able to track what is happening in the bank accounts.
Chamasoft acts as an online treasurer for the chama. It does this in the following way;
It reminds members to pay for their different contributions, sends them invoices and updates their respective statements detailing how much they owe and why they owe it.
If a member defaults in paying for their contribution, chamasoft automatically calculates the members’ penalty and updates his/her statement.
All the treasurer does is record payments and chamasoft reconcile everything.
For chamas that do internal lending, chamasoft provides a platform for recording these loans and its performs the following functions;
Chamasoft calculates the interest due and spreads out the installments.
It reminds the members to pay for these installments and updates the statements accordingly.
Incase a member defaults the system penalizes the member according to the penalties set.
The treasurer just needs to record payments as they are made.
Chamasoft allows users to track expenses as they occur
One can track projects e.g. Expenses regarding purchase of land, and the contributions needed to carry out the project.
Chamasoft generates reports showing how the chama has been contributing and spending its money over a year and monthly.
One time penalty tracking
One can penalize members for issues such a late coming and this will be reflected on the members’ statement which the member can access online.