The Guide to Select the Core Banking Software for Nidhi Company
by Keemo John Best Services ProviderThe dilemma of selecting the right vendor or a Nidhi CBS
Software is not hidden to anyone. It is a responsibility
with acute pressure not to miss any good lead. However, a few people tend to
take the wrong road with less knowledge of know-how and dos and don’ts.
Therefore, this blog has come to the rescue. This
blog will make you learn about Dos and Don’ts that are strict not-to-forget
while getting Nidhi core banking software for your early start-up.
Dos to follow
- Always take a detailed demo or
product walk-through of the CBS software. A legitimate Nidhi Software company would
take up to 1-2 days for the detailed walk-through of software and its
evaluation.
- Check if the software has
compliance for statutory reporting, i.e. BI reporting.
- The software should have features
for onsite and offline customer visits, record tracking of services used
by members.
- Always ensure the development
company has an excellent track record in customization services according
to their clients. Asking for product portfolios will be a huge help.
- The software must comply with all
the procedures being conducted by the Nidhi Company.
- The development agency must have
defining work experience in the field of core banking software
development.
Don’ts to follow
- Considering price as the only
parameter to choose the software is not at all recommended.
Making a decision in haste will harm your company
reputation and you may end up buying an incapable Nidhi CBS Software Look for the features
When you buy a core banking software for your Nidhi
Company, make sure it has features as explained below.
- Should
be Cloud Ready
The software should be cloud-ready so that the
database is easily recoverable and secure, devoid of any individual computer
need.
- Have a
knack for automated documentation
This is the time of automation. Every process,
starting from form filling, bank depositing, withdrawal, purchasing FD/RD
bonds, etc, are getting paperless so in the banking sector, so does everywhere.
So, the software you choose must be capable of providing everything
online.
- Auditing
and accounting-friendly
The software must be capable of performing accounting,
audits, tax filing, etc., online.
- Easy-use
member dashboards
Not all people associating with your company will be
tech-savvy even to use complex dashboard and UI/UX. Therefore the software must
have ease-to to navigate and comprehend.
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Created on Jun 22nd 2021 08:39. Viewed 263 times.