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Mifos Operating System

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Submitted By Jeanna27
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Mifos Operating System
Jeanna Marie Hendrix
July 29, 2011
Jay Sayers

As growing technology increases the demand for innovative ways for companies to remain competitive, Mifos.org software has become a productive tool for business professionals. As stated by Mifos.org, “Mifos is a web-based management information system (MIS) for microfinance institutions (MFIs).”
The Mifos software provides a universal financial tracking and management tool for companies to organize and analyze their clientele’s financial records. This user-friendly system makes detailed record keeping a simple task and it increases the accuracy in the recording process. This system records client and company data such as client notes, payment history, meeting notes, and other account information. The tools contained in the Mifos software assist companies in organizing and analyzing this company data.
There are many components in the Mifos database. Standing as a centralized platform, Mifos serves an entire global community providing training and attendance, support for group meetings, assistance with lending and savings, and defining payment types and interest. Aside from this, Mifos has a database that is familiar and easy to navigate, robust security measures and fraud protection, and a configurable workflow-

automatic flow feature which is used to efficiently configure loan and/or savings products.
Mifos is flexible to provide beneficial services to a variety of industries. There are many different databases within the Mifos software. In short, this productive business measure will increase efficacy in the business and overall promote company wealth and stability.

References
Mifos.org, How Mifos is Used (Retrieved July 2011)

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