Microfinance Horizon

22 November 2010 [CloudTweaks]

Wipro Technologies, the Global Consulting, System Integration and Outsourcing Business of Wipro Limited (NYSE:WIT) today announced that the implementation of  a CRM solution, for Janalakshmi Financial Services, a leading national microfinance company, has been further extended to support Janalakshmi’s new ‘Retail Liability’ business.  This implementation uses a leading public cloud CRM application. Wipro has already completed the successful implementation of the core loan origination process at Janalakshmi more than a year ago.

Wipro’s two year association with Janalakshmi is set to reach the next level by Wipro enabling Janalakshmi’s cloud environment to successfully support its ‘retail liability’ business. Faced with the need for a highly manageable and flexible solution for tracking collections and growing data volumes, Janalakshmi opted for the cloud CRM system. Starting from single group loans, the microfinance company has now moved to a wider basket of individual loans with optimized approval cycles.

“Wipro has been instrumental in shaping up our new liabilities business, by offering a seamless integration with third party in a secure and agile environment. Wipro ‘s implementation of the cloud CRM solution is helping us grow at significant pace by complete automation of business processes at reduced cost and time and timely slicing of business data for better view and control of our new business”, says Ramesh Ramanathan, Founder and Chairman of Janalakshmi.

“Wipro with Janalakshmi’s support was committed to streamlining the microfinance service provider’s business process flows, and close the loop from customer acquisitions, to processing loan applications and ensuring collections. The SAAS delivery model helped control IT outflows, enabling non linear growth, without compromising on data security, control and compliance vital for any business”, said CS Swaminathan, Vice President CRM, Enterprise Application Services at Wipro technologies.