Hire Purchase System

Introduction

The Hire Purchase system is a Window based software solution developed by E-Soft to fulfil the needs and requirements of Hire Purchase Loan business. It is a comprehensive software that covers the entire hire purchase operation ranging from loan and interest calculation, instalment computation, overdue alert, borrower account management to a vast amount of management reports. By utilizing E-Soft hire purchase system to handle the tedious tasks, the business could be performing in a more time and cost effective manner.

System Security

E-Soft Hire Purchase System offers a tight level of security to assure the integrity of the system users. Particularly, there is a user management module, which allows the system admin to create account for unlimited users and define the access rights of each user to control their features or information that they are accessing. Besides, the audit trail in the system helps the admin to monitor all the activities of the users including any amendments or deletions.

Master Files Maintenance

The Hire Purchase System comes with various kind of master files to manage the database of different parties. For example, the borrow and collector masters, which enables the users to store essential information such as the customers personal information, Spouse information, loan records and the employee information of the collectors.

Loan Management

1) Loan Application Loan management is one of the core features in the system that administer all the loan entries. Starting the loan application, the users could register and record the loan details in the system, including the borrower, collector, loan type, interest rate, interest type, etc. After maintaining in loan application, the data could be easily captured and the relevant documents like the loan agreement, settlement agreement and collateral form can also be generated.

2) Interest Calculation The system could handle different type of interest computation method including the Flat Interest Method and 78 Formula method. It is also able to cater various loan cycle from daily loan to yearly loan. Based on the data inserted, the system can then perform auto calculation on the instalments amount and term for each loan. Additionally, the overdue charge would be captured automatically.

Collection Management

The module is useful in the process of debt collection. The users could obtain the loan collection schedule from the system and assign the respective collector to follow-up on a certain case. All the repayment will be recorded in the system, in order to monitor the repayment performance of the borrowers. Besides, the system is built in with a reminder feature to alert the users about the overdue instalments for different period of time.

Reporting and Documentation

The Hire Purchase system also takes care about the reporting needs of the business. A wide array of listings such as the Loan listing, collection report, sale report, etc are available. Whereas for documentation, E-Soft is offering a full customization on the finance report containing the official receipt and finance agreements.

E-Soft Hire Purchase System

System Security

Master Files Maintenance

Loan Management

Collection Management

Reporting and Documentation

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