Fin-Fired Nidhi Software

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MIS Software

Fin-Fired is Fully customized Nidhi Software developed by Pixyrs Softech with all Banking Modules & features RD (Recurring Deposit), FD (Fixed Deposit) loan Account DD (Demand Draft) & Saving account for All types of  Nidhi Company.  With the help of our software you can easily manage your Nidhi account. Call us at 9636909555 for free live demo of our software.

For More Info : https://nidhisoftware.co/

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Difference between a bank and a Nidhi Company

Nidhi company is a non banking finance company that can offers financial services like depositing and lending money. It does not require any license from the Reserve Bank of India. However, Nidhi companies cannot work exactly as the banks do. There are some restrictions on Nidhi companies that make them different from a bank. In this blog we will have a look at these restrictions in detail.

1. Nidhi companies cannot issue any sort of debt instruments such as debentures, preference shares, etc.

2. Nidhi companies can facilitate opening savings accounts, FD and RD    accounts, but not the current accounts. The main aim or objective of Nidhi companies is to promote and encourage savings and hence they are not allowed to open current accounts for their members.

3. Nidhi Companies are strictly not allowed to offer any services, such as   opening saving deposits or providing loans, to any person who is not the member of that Nidhi company. All the services of Nidhi company are offered only to its members.

4. Nidhi company cannot indulge itself in any other business other than      lending and depositing money on its name.

5. Nidhi company is also not eligible to pay brokerage on deposits or making any sorts of advertisements.

So, we can see that a Nidhi company is very much different from a bank on functional front. Hence, you cannot go for any banking software to manage the workflow of your Nidhi company. You will have to get a Nidhi company software that can manage specific processes of a Nidhi company. While getting a Nidhi software, you should also consider Nidhi company software price, along with its features and performance.

Nidhi company software helps you to manage all the process and performs the tasks of RD Software and MIS software at the same time. Nidhi Software helps you to perform various MIS activities such as branch management, loan management, member registration process, information management, generating various complicated reports and a lot more. So, you do not need to buy a separate software for each process. This makes Nidhi company software much useful tool for running and managing a nidhi company effectively. There are various service providers who develop nidhi software, but you should look for the one who offers high quality services in affordable price range. Also, consider the post sales support and maintenance services offered by software company before finalising a Nidhi software.

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How to Manage Nidhi Business operation Via Nidhi Software

Nidhi Companies are getting popular day by day because of their potential to grow. They have spread themselves in multiple states. You can find Nidhi companies increasing in the areas where other business organisation hasn’t visited. As it is a part of Non-Banking Financial Company (NBFC) which doesn’t go with the definition of banks. They can’t take public deposits and issue cheque by themselves.

Nidhi companies are committed to working towards the development of the members. This is done by lending money to members with reasonable interest rates. This money is deposited by the members itself. It is also called Mutual Benefit Company because everything is kept between the members. Anyone who isn’t a member of the company can’t take its services.

The main motive of the Nidhi Company is helping people who need finances to complete their wishes and dreams. They lend the loans on low interest rates. Unlike, banks which take too much time for approving the loan and also charge high interest rates. The best thing about Nidhi Company is that it is easy to form and there is no need for high capital.

Nidhi companies include a number of operations which allows the members to benefit and help each other. These operations are nowadays managed by the Nidhi software. It makes the work easy. Every necessary task can be done through this software. But how are these operations managed by the Nidhi software? Let’s see

·         Managing the Members

A Nidhi company can’t be formed without any member; they are the roots of the company. To make any person a member of the company, the person has to be registered with a few documents. This process can be done really easily by the Nidhi Software. Open the member management section and you can now register a new member, keep the documents of the member, Edit the member’s registration, Approve or deny the membership and generate a member’s report.

·         Scheme Management

Every Nidhi company can have different types of schemes, in this section; you can manage the scheme of the company. You can create FD, RD, DD or Bond. Activation and deactivation of Schemes can also be done. Setting of amount condition is also available. You can set the grace period setting.

·         Login Panel

A Nidhi company is spread to many places and there are multiple branches which can have more than one admin. This is why there are login panels for every admin, branch and the company website.

·         MIS Reports

There are multiple reposts which have to be generated to keep the records of every activity in the company. Nidhi company software does it very easily. We can set automatic reports generation settings to make the whole process automatic.

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Benefits of Nidhi Software for Nidhi Company Business

In this growing world where the economy is growing rapidly, there are still many people who can’t enjoy their lives with their own rules. It happens because of multiple reasons but the poor financial condition is the most factors which affects the people.

There are people who want to complete their dreams. To do this they start thinking of taking loans from the banks. But this isn’t that easy. Banks have their own set of rules and regulations which we have to pass through to get the loan. Even after waiting for months you might get rejected because of some little reason. This becomes frustrating in the end.

But as this problem is big, Solutions are also available; Nidhi companies are one of that solution. Nidhi Company is one that is a part of the Non-Banking Financial Company (NBFC) which works towards mutual benefit among its members. This is why it also called Mutual Benefit Society.

Members’ deposits money and the Nidhi Company lend them to other members who need it. There are various activities which go back and forth in the company. This is why the Nidhi software is used to manage and organise everything in the company.

This software gives us a number of services to use. Nidhi software has many benefits which is why they are widely used.

1.      Management

The best advantage of using Nidhi software is that you can manage multiple things in single software. It makes the work handy. There are various panels where the members can manage their accounts.

You can do member registrations and manage their information. The member panel allows you to access your details. The loan management serves you with all the loan related details to you. It includes an EMI calculator.

2.     Unlimited Member Registrations

Nidhi Company software makes it easy to register any number of members to the company. It generates login details once the member is registered successfully. Each branch of the company can generate unlimited member’s ids.

3.     No limit on operator login

Just like member registrations, operators can also be registered within a single branch. They are provided with the operator login ids. They are given different roles.

4.     Reports Generation

According to rules and regulations, every Nidhi Company has to maintain annual reports. This is why multiple types of reports are generated in this software. You can generate member reports, loan reports, scheme reports etc. It makes the process of analysing the data easy.

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Fin-Fired is Fully customized Nidhi Software developed by Pixyrs Softech with all Banking Modules & features RD (Recurring Deposit), FD (Fixed Deposit) loan Account DD (Demand Draft) & Saving account for All types of  Nidhi Company.  With the help of our software you can easily manage your Nidhi account. Call us at 9636909555 for free live demo of our software.

FOR MORE INFO:- MIS Software