We’re excited to announce the launch of Musoni 1.24, bringing a ton of exciting new features and functionality to the system. This article gives a comprehensive overview of the release highlights. For the full release notes please click on the button at the bottom of this article.
1. Musoni Tablet App for field based data capture
Musoni is very pleased to announce the launch of its Tablet App, designed to improve back office efficiency and ensure members of the branch and management teams have access to all information in real time. The app can be used in both online and offline mode, enabling users to work in remote areas with limited connectivity (making it easier to reach the unbanked in rural areas). The Musoni App enables loan officers to easily carry out key tasks while in the field, including taking photos of clients or KYC info during client registration, enabling on-screen signatures and of course geo-tagging using the tablet GPS. The app includes the following core modules; Client and Group registration, loan application, reports and organizational surveys (user generated/customized).
The fields you can capture on the app match the corresponding fields and workflows in the system itself. When you update a form, workflow or field in the Musoni System, the corresponding field on the App is automatically updated as well. Using the app, loan officers travel into rural areas with less dependence on the branch, improving their efficiency, reducing the amount of paper work, and increasing the speed of opening savings accounts and processing loan applications. Once a task (such as a client registration) has been completed on the app, the information is either synced automatically with the Musoni System, or stored on the tablet itself until the user decides there is sufficient signal to upload the information. The app itself is compatible with any tablet running Android 4.0 and above. If you would like to start using the Musoni App, please contact our support team on firstname.lastname@example.org and we will give you a personalised training and help you with installation.
2. Schedule reports to be sent automatically
It is now possible for the system to automatically email reports to users at any time of day or night (in particular we find that management like to have their core performance reports emailed to them each morning). To schedule a report, go to Configuration>Report Scheduler. From here you can see a list of all of the report schedules you currently have configured, and can add a new schedule by clicking on the ‘Schedule Report’ button, as shown on the screen below.
Once you click Schedule Report, you can then select the report that you wish to be sent to users, alongside the frequency the report is sent, the subject and contents of the email, and the intended recipients.Once you click save, the report will be automatically sent (either as a one off or as a daily message) according to your specifications.
3. Fully flexible workflows for client registration, loan creation and savings activation
You now have the ability to fully customise all the core workflows in the Musoni System. Once you have designed a new custom form (containing any fields or questions you wish), you can easily add this custom form to either the client creation or loan creation workflows, ensuring that the data is captured as part of the workflow, rather than once the client or loan has been created. When you customise a workflow (by adding a form), the corresponding workflow on the Musoni app is also automatically updated. You can easily add custom forms to the savings or loan workflows by first creating a form linked to the savings or loan, and then going to the Custom Form Checks tab, and linking your new form to the Loan Disbursement or Savings Activation respectively.
4. Edit loan amount during appraisal
It is now possible to edit the loan amount of a loan application during the loan appraisal process, giving the Credit Committee the opportunity to reduce the the loan amount if they feel the client is not eligible for the larger amount. When a user clicks “Approve” on a loan with the status pending approval, they will now be shown the amount of the loan and have the option to edit this before approving the loan as shown below.
The user also has the option to add a note explaining the reason for the decision. Once the loan is approved, the system will store both the original loan amount and the approved loan amount. Both will be displayed to the user prior to the loan disbursement.
5. Advanced NPA Functionality
When configuring a loan product, you can select the accounting methodology, either cash or accruals. If you select accruals, you then need to specify the number of days a loan can fall into arrears before it is considered a Non-Performing Account (NPA). The system now will reverse any income accrued on an NPA and book it into a separate Suspended Interest Income GL. When the client repays, then the income in the suspended interest income account is booked back into the Interest Income account. Overnight, the system will check whether any loans have changed from NPA back to performing and will automatically book any suspended interest income out of the Suspended Income Account into the Interest income account. You can configure which account is used as the Suspended Interest Income Account on a product-by-product basis in the accounting tab of the product configuration.
6. Ability to adjust the transaction date of MMT transactions
It is now possible to adjust the transaction date of an MMT transaction prior to allocating it to a loan or savings account. This enables you to easily allocate payments with a payment date prior to the registration of the client or the creation of the loan/savings account. To adjust the transaction date of an MMT transaction, go to Configuration>MMT and click on the Suspense Tab. Here you can use the edit button (shown in red) to adjust the date of any transaction
You can then update the transaction date. Once you have updated the transaction date of the MMT transaction, you can then assign it to any loan or savings account as normal, and the date used will be the new date you have added.
If you would like to learn more about any new feature, please contact the Musoni support team on email@example.com who will be happy to answer any questions you have.