CHITCARE(Kireeti Soft Technologies): Providing Reliable Data With Comprehensive Chit Funding Managem

CIO Vendor Chit fund, a unique savings cum lending medium, is still a traditional method to gain a fraction of the amount invested by a group of people or organizations through an auction. Chit funds require a lot of man hours put into formalities, detailing and formation of the said group. There have been instances where a chit fund group has been misused by the promoters; on quite a few occasions the founders have pulled off fraudulent tactics such as ponzi schemes and have absconded with the money. Most of the times, such organizations are not even registered, making one’s ability to invest their hard earned money and trust strenuous. Apart from these, it is always a challenge to run the chitfund company by preparing required reports for chitfund registrars and simultaneously preparing MIS reports to manage the chitfund business.

Kireeti Soft Technologies Ltd., founded in 1995, launched a chit fund management software package called CHITCARE to effectively eliminate these challenges. With 20 years of expertise in the chit fund domain, CHITCARE is a software solution that cuts down reports preparation time and increases quality and accuracy of information. CHITCARE offers a whole comprehensive list of services, some of which are, Defaulters list, Guarantors information, Subscriber- wise ledger, Agent- wise Business, Automatic Intimation Card Generation, Balance Sheet, and Profit & Loss Statement amongst a host of other features. With all the services rolled into one application, the number of man hours that were initially devoted will substantially decrease with an increase in the quality and accuracy of information among subscribers.

An Array of Services
Kireeti Soft, hailing from Hyderabad, provides a wide range of IT consulting, web design and development services. The domain experts begin their analysis of the client’s business requirements and do a business-technology value alignment, post which, the analysts design suitable solutions. The company has structured their services into various service segments like E-Business, Product Turnkey Services, Remote Maintenance Services, Quality Consulting, Architecture and Technology Consulting. The company exclusively caters to the ERP domain with various solutions for healthcare, payroll, asset management, document management, retail, accounting, etc. Kireeti Soft is recognized for its renowned and reputable CHITCARE web application, under the ERP solutions, which is being used by more than 2,000 plus chit fund companies of India in Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Maharashtra, Kerala, West Bengal, Odisha, Maharastra, Madhya Pradesh and in other states. “Most of the leading chitfund companies across various states in India are using our CHITCARE Solution,” proclaims Sridhar Narra, CEO, Kireeti Soft Technologies Ltd.
CHITCARE Applications Benefitted by All
The CHITCARE application benefits the management, business agents, collection agents, customer/ members and staff members. Some of the advantages provided are one can work from anywhere, reliable data security, all analysis reports like groups wise collections, branch wise collection, agents wise collection, as well as outstanding statements are available within a fraction of seconds, month end reports are available at all times, provision of profit loss and balance sheet branch wise as well as consolidated, total control on the chitfund activities, etc.

Any outstanding list from CHITCARE can be transferred to the respective executive with the simple connection to a computer

India is home to 1 billion mobile subscribers, Kireeti Soft, constantly ensuring innovation, has leveraged this platform to reach out the large customer base with their CHITCARE mobile module for members, directors and business agents. Another innovative addition to the mobile module is the collection module with Bluetooth printer. This app installed on a collection agent’s smart phone is directly connected to CHITCARE ERP and agents can view outstanding details and generate receipts using this. It is also possible to give receipts through a small handy Bluetooth printer. This comes with the feature to save the receipt details on the server and the customers will receive a receipt update thereby saving time. Another interesting feature from CHITCARE is the add-on tool collection terminal. CHITCARE Collection Terminal has been exclusively designed for chit fund collection activities. It has a dot-matrix printer unlike other terminals, which carry thermal printing. Collections are made much more efficiently and effortlessly with this feature. Any outstanding list from CHITCARE can be transferred to the respective executive with the simple connection to a computer. It has the payment option of cheque or cash as per the customer’s convenience. At the end of the day, the collection terminal can be connected back to the CHITCARE computer and transfer the receipts to CHITCARE. This simple process saves time, no data entry is required at office, improves accuracy of data and the process becomes easier for collection executives.

The chit fund business is gaining popularity among the MFI sector and VC firms who are looking to invest in chitfund companies looking for opportunities to expand financial inclusion as this operates on the same model as MFIs and their commission is also capped. Research projected a continual industry growth of 10 to 15 percent each year. Thrilled with the growth in the chit fund business, Kireeti Soft strives to utilize their in-depth expertise to emerge as one of the leading solution providers in this promising industry.