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Transparent cash handling for micro finances
achieved with Beacon

Leading micro-finance uses Paripoorna’s Beacon to manage transparent cash handling

Customer Challenges

The microfinance industry has become very dynamic in servicing the loan seekers on the spot. Due to the lack of transparency for the manager to check on the field staff, misappropriation of the collected funds was imminent. The challenges the customer faced were

  • Unavailability of timely update on the collected cash
  • Unable to get the correct details of the attendance of the members during the centre meeting
  • High chance of cash misappropriation was eminent

Our Solution

Paripoorna’s revolutionizing app, Beacon is the way forward in micro finance industry to move from paper based to tab based process. Beacon provided the perfect solution and much more to the customer’s challenges

  • The photos of the serial numbers of the cash collected can be uploaded on the spot by the field staff upon cash collection. This provided a transparency to the manager about the date and the time the cash was collected along with the serial numbers of the notes with a single snapshot. This ensured there was no room for any kind of misappropriation of funds
  • The photo upload feature also enabled the field staff to take the photos of the members during the centre meeting and this doubled as an attendance verification
  • Geo-tagging facilitates the location status of the field staff to the manager without having to be in constant touch with the field staff personally
  • Online receipt generation aids in providing the receipt immediately on collection. The lesser turnaround time aided customer satisfaction
  • The real time data capture and unified location of the data ensured no loss of data across various mediums.
Transparent cash handling

Business Impact

The unparallel solution in the form of the Paripoorna’s Beacon app benefited the customer by

  • Giving them 100% accountability in handling cash
  • Enabled the managers to do on the spot verification with field staff on the collections
  • Transparency on early or delayed payment enabled an extra check on the field staff’s daily activities

By streamlining the cash collection and handling with the help of the powerful Beacon app, the customer experienced their business grow manifold

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