mPower VLM from Milan Tally Services is a dedicated solution built on Tally.ERP9 for Vehicle Finance and micro-finance institutions.
Loan Management – Registered Customers are provided with loans based on their financial requirement and qualification criteria.
a. Customer Registration
b. Loan Application
c. Loan Approval
d. Loan Disbursement
e. EMI Receipt
f. Pre-closure Settlement
g. Cheque dishonor
h. Vehicle Seizure
Dealer Transaction – Dealers are given lending business support for their customers. Hence a Customer can directly approach finance companies or come through Dealer to repay the loans.
Registration Certificate – Registration certificates are maintained and given to customer. It remains as Hypothecated to status until recovery of the loan.
Insurance – Insurance coverage information along with renewals are maintained in the system for easy recovery in case of an accident.
Milan offers end-to-end software and services that support all of your vehicle financing and business needs, from loan application through settlement. We also offer high-tech outsourced services for web development, customer support, and partner marketing. A business partnership with Milan helps make your lending operation more versatile and gives you a competitive edge that will position you for future growth.
mPower VLM is a solution built on Tally.ERP that provides:
- Detailed record of members ranging from KYC to their Family, Residence and Occupation details.
- Loan disbursement and repayment schedules.
- Loan Recovery Plan like Monthly, Bi-Monthly, Quarterly and Half-Yearly.
- Automated EMI calculator to determine interest and installments.
- Member Instalment Receipt with PDC as well as reverse entry in case of cheque bounce.
- Loan recovery and Pre-closure settlement.
- Interest calculation with IRR (Internal Rate of Return)
- Loan default management.
- MIS information and reports like Disbursement Summary, Approval & Unapproved Report, Ledger Card, Arrear Report, Loan defaulters as well as Collection Due reports.
- Comprehensive accounting of Tally.ERP9.
- Additional service products like RC and Insurance are available as add-ons in the solution.
Benefits of mPower VLM
- Quick and comprehensive assessment of borrowers that
- reduce risks
- enable faster registration of customers
- helps smooth transactions with Dealers
- Automated entries reduce staff time in data entry and also improve accuracy.
- Helps faster service delivery, gaining customer loyalty.
- MIS reports that warn of doubtful debts and defaults that help improve debt collection.
- Reduced cycle time for loan recovery, thereby reducing recovery costs.
- Ability to sell extended products range.
- Flexible configurable options to suit your business needs
The solution integrates with specific SMS services and handheld printer devices.
In all, improved efficiency, more control, better services and higher earnings! For more information on mPower VLM, please download the Brochure & Presentation and also call +91 33 4006 9434/ 4065 3152, Email firstname.lastname@example.org or fill out the Enquiry form.