SKS Microfinance Limited transforms operations with IBM MobileFirst solution

New Delhi, India, November 25, 2015: IBM announced today that, they successfully completed deployment of IBM MobileFirst solution for SKS Microfinance Limited., an NBFC-MFI registered with the RBI. SKS Microfinance Limited has partnered with IBM to transform operations from paper-based processes to a mobile solution resulting in enhanced customer service and productivity gains.

IBM implemented an end-to-end mobile solution to eliminate time-consuming and paper-based processes and to speed up the acquisition of new customers.

SKS Microfinance Limited distributes microloans to low-income women across India to help them start and expand simple businesses that can empower them while increasing their incomes. With more than 4.5 million members and cumulative disbursement of approximately USD 7 billion in loans and current loan outstanding of USD 833 million, as on 30th September 2015.The organization relies on 5,456 loan officers (or “Sangam Managers”), based out of 1,135 branch offices, to acquire new members, disburse loans, ensure loans are well utilized and collect repayments. Until recently, loan officers used manual, paper-based processes to keep track of loans and enter that information into a ‘shared’ branch computer, which was very time-consuming.” (All figures are excluding undivided Andhra Pradesh)

Not only has productivity of the loan officers improved, security of the company’s data has been strengthened and the turn-around on loan application and disbursal process has reduced. The tablets have helped accelerate interactions. As a result, women can get back to work much faster. Each loan officer now saves approximately one and a half hours and serves more members per day. In view of this the Sangam Manager is able to do six center meetings per day as against the earlier five, registering a 20% increase in field productivity and reducing concomitant costs. With an efficient way to provide and collect information, they have reduced the duration of the meetings with loan recipients from 45 minutes to 30. The mobility solution will also provide SKS Microfinance Limited a foundation for future innovations, including cashless transactions.

The solution included provision and deployment of 7,000 tablets across India (mainly rural and semi-rural), a help desk to manage these devices and software and services (IBM MobileFirst Device Procurement and Deployment Services and IBM’s MobileFirst Managed Mobility Services) to transform from paper-based to mobile digital services.

R. Rao, Managing Director & CEO of SKS Microfinance Limited said, “It was clear that IBM could provide deep mobile expertise, strong connections with ecosystem partners and a customized implementation for our specific needs. We have significantly reduced the time required to input information and reduce fatigue among the loan officers. The tablet solution enables us to accommodate growth while simultaneously improving our efficiencies. It also gives us a strong platform for moving our organization forward and delivering better services.”

Gyanendra Pawahanee, Director Sales and Service Line, IBM GTS, said, “IBM’s MobileFirst portfolio can help clients achieve greater efficiencies as they begin to transform their operations to take advantage of mobile technologies to engage more customers and grow their business.”

© News Service

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