Software Review of SIEM (Version 7.13)

Publication Date: 2005
Published by: CGAP Technology Resource Center
Document Type: Paper (PDF)

View this Document (35 KB)   Email this Document

Is SIEM 7.3 suitable for use by a microfinance institution?

This review, sponsored by the Consultative Group to Assist the Poor and managed by Horus Development Finance examines and rates the software, SIEM 7.13, developed by the company, Micro Finance Solution Inc (MFSI).

The review states that the software:

• Is designed for microfinance institutions (MFIs) of any size;
• Has an intermediate budget;
• Does not require much information technology (IT) expertise;
• Performs a wide range of microfinance services;
• Has been:
  • Developed and produced in Guatemala;
  • Implemented in 47 MFIs in 17 countries.

The review lists the following pros and cons of the software:

• Pros:
  • The software is developed with aid received from international donors;
  • It is user friendly, easy to install and configure;
  • It is available in major international languages;
  • It has a good integration of accounting and loan portfolio management.
• Cons:
  • It is not fully multi-currency;
  • It requires translation and support.

  The review gives the software the following ratings (from “1 star” or poor, to “4 stars” or best):

  • Functionality - 3 stars: It can track group lenders individually, but contains some functional gaps.
  • Ease of use – 3 stars: The user interface is intuitive and reliable.
  • Management reporting – 3 stars: Reports are clear and well conceived.
  • Services – 3 stars: There are hundreds of requests already registered for the next version.
  • Technical capabilities – 3 stars: The software supports various programming languages and database formats.