Grameen Technology Center Helps Microfinance Stay Accountable - Volunteers from Accenture, Citi and Dow Bring Expertise to Poverty Alleviation

A technology 'dreamteam', volunteers from Accenture, Citi and Dow in collaboration with the Grameen Technology Center, completed an 8-week accounting system evaluation project offering industry standard guidelines for integrating with Mifos, an open source information management platform. Grameen Foundation's flagship Mifos™ customers, Grameen Koota of Bangalore, India and enda inter-arabe of Tunis, Tunisia, two of the world's most innovative microfinance institutions (MFIs), were chosen for the project.

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Grameen Foundation and Volunteers from Accenture and Dow

Seattle, WA (PRWEB) October 20, 2009

A technology 'dreamteam', volunteers from Accenture, Citi and Dow in collaboration with the Grameen Technology Center, completed an 8-week accounting system evaluation project offering industry standard guidelines for integrating with Mifos, an open source information management platform. Grameen Foundation's flagship Mifos™ customers, Grameen Koota of Bangalore, India and enda inter-arabe of Tunis, Tunisia, two of the world's most innovative microfinance institutions (MFIs), were chosen for the project.

Technology has become a critical factor to scale as the microfinance sector looks to extend its impact in alleviating global poverty. Both Grameen Koota and enda, aiming to accelerate their growth, were seeking robust solutions to integrate back-office operations through the Mifos platform. The project focused on documenting requirements and delivering recommendations for best-in-class accounting applications to work with Mifos enabling a complete cash management to portfolio management system. This guide to integration supports MFIs goals to more effectively manage and expand their operations to serve more of the poor. Members of the Mifos product team along with volunteers from Accenture Development Partnerships and Dow travelled on-site to Bangalore, India and Tunis, Tunisia for three weeks of hands-on research and in-depth interviews with staff and management to capture their needs supporting these goals. This on-site requirements gathering culminated in a short list of recommended ERP solutions, including OpenBravo, Microsoft Dynamics, and CODA, which are now being evaluated and will soon be integrated seamlessly with the Mifos platform.

Contributing to the Mifos open source community as a volunteer is a powerful way in which technology professionals worldwide can join Grameen Foundation's united effort to deliver software and technology that accelerates poverty alleviation through microfinance. Accenture, Citi and Dow are trialing a joint effort that enables employees from multiple companies to work together on dedicated skills-based projects with global nonprofits and social enterprises. Based on its successful track record of partnering with corporations and leveraging volunteers, Grameen Foundation's Bankers without Borders® initiative was selected as one of the first NGO partners with which to pilot this innovative model. Partnerships like these enable Grameen Foundation to extend its breadth of service offerings to the microfinance industry.

About Tech for Microfinance Initiative and Mifos™
The Grameen Foundation Technology Center are experts in delivering technology innovations, services and sustainable models for the advancement of Microfinance. Our Tech for Microfinance Initiative is leading the way in technology-enabled growth for Microfinance Institutions worldwide. We have developed Mifos, an award-winning open technology platform, in conjunction with business consulting, educational service, front-office innovations and a network of IT specialists. Our complete solution creates measurable business results and social impact through strategic technology investments. The Technology Center is headquartered in Seattle, Washington with a presence in Manila, Philippines and Bangalore, India. To learn more, please visit mifos.org

About Bankers without Borders®
Bankers without Borders®, Grameen Foundation's volunteer initiative, is a global reserve corps of business professionals and retirees from a variety of industries who contribute their time, skills, and experience to support microfinance and technology. These volunteers work to change lives and enable the poor - especially the poorest - to create a world without poverty. Bankers without Borders® works with companies, associations, higher education institutions, and individuals to match volunteers' skills with the critical needs of organizations serving poor people around the world. To learn more please visit grameenfoundation.org.

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Grameen Foundation and Volunteers from Accenture and Dow

Photo of Volunteers Assisting Grameen Koota with Integration of Accounting System with Mifos Microfinance Software



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