How to Manage Nidhi Business operation Via Nidhi Software

Posted by Fin-Fired Nidhi Software on November 22nd, 2018

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.