The short answer
The best SACCO software in Kenya is the one that runs your own members, loans and deposits correctly, produces your SASRA returns from live data, and still works when your regulator, your auditor and your members change what they ask for. This guide gives you ten criteria to test that, and a way to compare the four kinds of system on the market without being sold to.
No single product is best for every SACCO. A small non-deposit-taking society, a deposit-taking SACCO with a FOSA and a multi-branch SACCO with a big checkoff book have different needs. Rank vendors on evidence, not on a feature list.
The four kinds of SACCO system
| Kind of system | Typical strength | Typical limit |
|---|---|---|
| Local SACCO core system | Built for Kenyan SACCO processes, familiar to staff | Accounting, reporting and integration often sit outside the system, and the vendor roadmap is yours to chase |
| ERP-based SACCO system, for example on Dynamics 365 Business Central | One ledger for members, loans, deposits and finance, with a large platform behind it | Needs a partner who knows SACCO operations as well as the ERP |
| Bank core system adapted to a SACCO | Strong transaction engine | Often too heavy, and shaped around banks rather than checkoff, guarantors and dividends |
| Spreadsheets and a general accounting package | Cheap to start | Controls, audit trail and SASRA reporting depend on people |
Ten criteria to compare
- Member and KYC records: members, groups, employers, next of kin, signatories, exits and dormancy, with change requests that are approved.
- Loans end to end: products and charges, appraisal, guarantors, collateral, disbursement, schedules, interest, arrears, classification, recovery and rescheduling.
- Employer checkoff: schedules out, remittances in, variances matched and allocated, with posting in one transaction.
- FOSA and teller: savings and current accounts, tills, cash and cheque transactions, standing orders and salary processing.
- Dividends and interest on deposits, with withholding tax and slips.
- SASRA returns: which annexes and forms are covered, and whether they come from live ledgers.
- One ledger: whether finance posts from the same system or from exports.
- Controls: approvals, segregation of duties, audit log and role-based access.
- Channels: mobile banking, M-Pesa paybill receipts and USSD, and how they stay in step with the core.
- Vendor and platform: roadmap, support model, references, and what happens to your data if you leave.
Questions to put to every vendor
- Which version is running in a live SACCO today, and may we speak to that SACCO?
- Show a SASRA return produced from live data, and the report behind each number.
- Show the audit trail for one loan from application to recovery.
- Run our checkoff file from last month through your matching.
- What is included in the price, and what is charged per branch, user, module or return?
- Who owns the data, and in what format can we export all of it?
Where SaccoFlow 365 fits
SaccoFlow 365 is Software Dynamics' SACCO software for Microsoft Dynamics 365 Business Central. It covers the member register, deposits, the loan life cycle, employer checkoff, dividends, FOSA accounts, teller, standing orders and salary processing, five role centers and the SASRA annexes and forms the product supports. It is in preview, so it is not yet a product with a long list of live SACCOs. If you want a platform with a large vendor behind it and are prepared to run a pilot on your own data first, it belongs on your shortlist. If you need a system that has run in production for years, say so, and weigh that criterion above the rest.
SaccoFlow 365 is in preview and is introduced through a pilot with your data. To scope one, book a consultation.
Frequently asked questions
What is the best SACCO software in Kenya?
There is no single best. The right system runs your own members, loans and deposits correctly, produces your SASRA returns from live data and has references you can check. Compare local SACCO systems, ERP-based systems and adapted bank systems against ten criteria, and run a pilot with your own data.
Is SaccoFlow 365 live in Kenyan SACCOs?
SaccoFlow 365 is in preview and is introduced through a pilot with your data. Ask any vendor, including us, which version is running in a live SACCO.
What should a SACCO system include?
Members and KYC, deposits, loans with guarantors and collateral, employer checkoff, dividends, FOSA accounts, teller, standing orders, controls and SASRA returns, on one ledger.