Software Review of Micro Financer Matrix (Version 2.01)

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

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A software review

This document reviews the software, Micro Financer TM Matrix 2.01. It reviews institutional fit as follows:

• Is designed for small to medium microfinance institutions (MFIs);
• Has an intermediate budget;
• Requires database management skills;
• Does not have fully automated administration processes;
• Provides the basic range of microfinance services;
• Is developed in India;
• Has been implemented in 18 MFIs in 3 countries.

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

• Pros:
  • Uses a secure and reliable technology;
  • Has a network of 5 foreign partners.
• Cons:
  • Is available only in the languages of India and Indonesia;
  • Has no multi-currency and no till management;
  • Does not allow for rescheduling of a loan;
  • Has no accounting interface.

The review rates the software on its different aspects (1 star = poor, and 4 star = best) as follows:

• Functionality: 2 stars:
  • Provides only a basic range of services;
  • Contains functional gaps;
  • Lacks advanced interfaces;
  • High level of customization allows for flexibility, but can be costly in the long run.
• Ease of use: 3 stars
  • Screens are clear;
  • Menus and navigation are not intuitive.
• Management reporting: 2 stars
  • User reporting needs are not fully addressed;
  • Reports need to be customized;
  • Basic reports are missing.
• Services: 2 stars.
• Technical capabilities: 3 stars.

The review concludes by providing information about the installations and the cost summary.