a User-Friendly and a True Micro-Finance Software
CommonCents Micro-Finance Software is a
window-based, menu-driven, diagram-button-driven and
icon-driven system designed initially for Micro-Finance
Institutions (MFIs) with Grameen and/or ASA methodologies.
It is highly differentiated from a banking software because it
is powered by modules and reports which facilitate and monitor
group transactions but also take considerations of transactions
by individual clients. CommonCents 101 was initially a 3-in-1 software
and it highly integrates
Loan Tracking System,
the Savings System, and
the General Ledger System.
This integration eliminates
data-entry redundancy and makes data in the three areas
consistent. This means that every transaction done in the Loan
Tracking and/or Savings Modules has a corresponding journalized
entry in the Financial System. This also means that savings
transaction may also be integrated during loan transactions (ex.
Release, Payment and Adjustment). Through its years of usage
and operations, banking modules and reports have been added to
the software which makes the system functional for banks with
simple operations. Last September 2011, we released the MySQL
version of CommonCents. This version is now a
because it includes
the Social Performance Monitoring System
The Commoncents SPMS is PPI-ready. PPI or Progress out of
Poverty Index tool is a commonly used SPMS tool by MicroFinance
Institutions throughout the world. It was developed by Grameen
Foundation and being used by Microfinance
Institutions. Additional banking features and reports are
continuously added and enhanced to answer the growing
information and reportorial requirements of banks with
relatively more-advanced operations.
CommonCents is a Dynamic Software
CommonCents 101 Software is a software
that can be easily upgraded (and is upgraded continuously) because it uses
Object-Oriented Programming (OOP)
and N-Tier Architecture
in its design and development.
In some degree, it adapts the Service Oriented Architecture
(SOA) because it uses reusable classes (tiers or services). It
also uses data classes and forms produced by CENTECH's Visual
and DataClass Generator. The software is coded using Visual
Basic and uses Crystal Report as its report designer.
Throughout the years it experienced a lot of minor and major
We have a
The data of the CommonCents 101 software
can either be stored in MS Access
database and in year 2011, MySQL database --an
open-source database. This advanced IT methodology makes future
enhancement relatively easy and fast. Furthermore,
client-partners will have no problem in the future if they
decides to upgrade their database to a higher level or version.
Tested and Reliable Software
CommonCents 101 Software started its
development early of 2002 and modules and reports are
continuously added/enhanced based on the suggestions of current
The system is now currently used by big MFIs and bank nationwide
with many branch-
installations across regions. CommonCents101 software has
also been shown and demonstrated to some MFIs and Banks IT
personnel through some software-demostrations activities
sponsored by Funders and MFI networks (e.q. Philnet, Visayas PEF).
It has also been presented to funder’s IT personnel (e.q. PCFC,
Philippine CGAP MIS consultant) for comments and suggestions.
Capable and Competent Software Designer and Technical Support
CommonCents 101 software is designed and
developed by CEN Systems and Technologies
who has highly competent and experienced Information
Technology (IT) professionals. The technical team is headed
by Carlo B. Sicad - The chief software architect - who has 27
years of IT experience and 13 years of MicroFinance IT
experience. He has developed many application software for
NGOs and most of them were Financial Systems. He is also the
Chief developer of RMG-MIS—a micro-finance software
developed last 2001 for MFI clients of People Credit Finance
Corp (PCFC)-- which was funded by ADB.
WE WILL STAY to support and serve the MicroFinance Industry. Other developers have folded and
abandoned the ship but we have survived and still supporting our
clients-partners, enhancing, and developing software. In
fact, in August 2014 we will be celebrating our 12th year
anniversary. Throughout the years, we have continuously
enhanced CommonCents to cater to the continuously growing
informational and reportorial requirements of our clients as
well other players in the industry. We have been developing
software complementary to CommonCents to complete the whole
array of support.
The vision of CENTECH Corp. is to develop
a MicroFinance Credit Bureau. We have started developing a
web-based software commonly known as
new paradigm in Information sharing--to achieve this vision. In
August of 2014, we will also build the
A web-based software that will consolidate data from the
different branches of MFIs. This will use the latest technology
in software development and will cater to the needs of
MFI management, stakeholders, and donors. This CommonCons-olidation software, aside from its
initial purpose of complementing CommonCents101 MicroFinance Software, will also
be used as a springboard to achieve our vision. Eventually we will
be achieving this vision and we hope that you will be with us.
(MF) Loan Tracking System
A module that stores and processes client information. This
is a client-centric system. Once information is inputted, it
can be used in either loan system and/or savings system.
Modules for inputting new loans and updating these records
of loan approval, release, and payment transactions. The
software also keeps track of aging of loans with flexible
aging brackets. It also can transfer loans to other loan
types and can write off loans.
Modules that facilitate group payments and group releases
and other group loan transactions. CommonCents' MF Release
and MF Payment modules are designed to specifically handle
group loans (e.g., Grameen or ASA-type) transactions. The
modules are very flexible that the release/payment of group
loan transactions may involve release to/ payment of one
person, two or more members of a group, or for the whole
group itself. Each transaction, which may involve one or
many clients, will only generate a single entry to the
General Ledger System. These modules differentiate the
CommonCents 101 software from the traditional banking
system in a way that a processing of payment in a
center/group (for example, 40 clients loan payments and 40
clients savings transactions) is done just like an ordinary
one payment or release. Furthermore, encoding of data is
facilitated because suggested figures (e.g., principal,
interest, savings1, savings2, etc.) for every client loans
and savings will be given by the software. All the user will
do is change the figure(s) that deviate(s) from the supposed
figures and post this one transaction. This will then update
all then individual loan ledgers of a center , all the
individual savings ledgers of a center and the accounting
ledger of the branch in just a fraction of time.. These
features have proven to be the most time-saving features of
the CommonCents 101 software compared to traditional banking
software. Furthermore, the Payments module of CommonCents
101 software can handle partial payments, late payments,
advance payments and payments with deposits.
Module for reclassifying or transferring of loans (for
example, from Active to Past Due or to other
classifications.) This module can also be used for writing
off delinquent loans.
Module for correcting wrong loan transaction entries (ex.
nullifying payments, correcting loan entries made to wrong
persons, Unreleasing Released Loans, etc.);
Automatic updating of data related to Accounting and MF
Savings Systems (e.g. automatic updating of accounting data
for every loan transaction, integration of deposit and
withdrawal of savings for the release and payment of loans,
etc.). This means all the modules and processes mentioned
above have their own General Ledger Entry and are
automatically posted to the General Ledger System as well as
to the Saving System.
Accommodates multiple loans. This means that you can create
many loans for Micro-Finance and individual loans (for
Provides flexibility in the computation of amortization
interest and principal.
Modules for generating standard reports regarding loan
information, i.e., management, monitoring and activity
reports. The system has many existing reports to monitor
performance (ex. master list of loans, aging reports, PAR
reports, repayment reports, status reports, etc.). It can
also facilitate operations (billing reports, loan ledgers,
payments reports, etc.). These reports are grouped by
branch, loan type, program officers, centers, etc. The
content of the reports can also be filtered by information
(ex. branch, donor program, loan type, centers, etc.) to
which the records belong.
Micro-Finance (MF) Savings Tracking System
Process micro-finance savings deposit, withdrawal and other
types of savings transactions of clients. The process can
either be done by branch/center (group deposits or
withdrawals) or by individual (for specific person only).
Compute interest and withholding tax of micro-finance
savings using Central Bank computation. The computation of
interest can either be done quarterly or monthly.
Transfer savings accounts from active to dormant and vice
Process and compute deductions (service charges) of dormant
Supports up to nine (9) types of micro-finance savings for
each group-based client (e.g. Voluntary Savings, Forced
Savings, CBU, Guarantee Fund, Emergency Fund, Mutual Aid
Fund, Group Fund and any fund you have).
Flexible savings accounts naming convention (ex. naming of
MF savings and number of MF savings to be maintained). This
means users can change the names of these nine (9) available
Supports the integration of Micro-Finance savings with
Micro-Finance loan transactions. This means that client
saving deposit can be integrated during loan releases and
Allow users to correct wrong entries in MF savings
Transfer MF savings from one saving type to another (ex.
from Emergency Fund to Voluntary Savings and vice versa)
either by percentage of the whole savings of by absolute
Link all of these savings transactions to Accounting System
(e.g., automatic updating of accounting of data for every
savings transactions). This means all processes mentioned
above have an automatic General Ledger Entry and Posting.
Modules for generating standard reports of micro-finance
savings information including management, monitoring and
activity reports. Flexible reporting, which means that you
could print one MF savings or a combination of them with
filtering on Account Status, Centers, Program Officers, etc.
Example of reports is List of Savings Accounts by center,
PO, status; Statement of Savings Accounts, historical
records of transactions, statistical reports on savings,
Can be used as stand-alone
General Ledger System.
Transactions from other
systems (Loan Tracking and Savings Systems) are linked to
Modules for entry (journalizing) of purely financial
Modules for printing vouchers and other related documents.
Modules for automatic generation and postings of year-end
Ability to change accounting periods (monthly, fiscal year,
Tracks financial Information
by individual Donor Programs and by Branch (e.g. generation
of trial balance and other financial reports per Donor
Program and/or Branch).
Flexible Chart of Accounts
and other accounting columns.
Facilitate segregation of
accounts/reports by Donor Programs. This means that you
could generate reports and supporting documents either
institutionally (for the whole organization) or per
individual donor program.
Modules for generating financial reports including
management, monitoring and activity reports. Examples are
Balance Sheet, Income Statement, Trial balance, Book of
Accounts, General Ledger, etc.)
Reports module for external
organizations (BIR, Central Bank, PCFC).
Monitoring System (PPI-Ready)
Can be used to store and
manage social performance data of clients.
Includes module linking to
Clients’ Data and Loan Tracking.
Includes modules for entry to data using
Progress-out-of-Poverty Indicator (PPI) tools.
Includes module for printing Social Performance data for
Flexible “Question, Answers and Indicators” module where the
MFI can change the version of questions, answers and
indicators as well as the Poverty look-up table.
Facilitate segregation of by centers and other factors.
Includes modules for
generating social performance management reports including
management, monitoring and activity reports.
Can generate variety of reports in a fraction of time using
the Crystal Report
The reports are grouped into major report groups namely;
Financial Reports, Loans Reports, Savings Reports,
Miscellaneous Reports, Statistical Reports, as well as
Banking Reports, Self-Made Reports.
Flexible report generation modules. Most of the reports are
grouped according to significant groupings (Branch, Sub
branch, Center, Loan Type, Loan Officer, etc). Some of the
reports can also be filtered to some significant parameters
(type of savings, branch, sub branch, centers, loan type,
donor program, etc.)
In the Consolidation system, report can be generated by
specific branch, accounting period (historical), and for the
Reports can be used for Tactical Purposes (List of Center,
Center Billing Letters/Sheet, Billing Reports, Center
Payment Report, Financial Vouchers, Savings Ledgers—balance
with savings transactions, Loan Ledgers—balance with loan
transactions, Trial Balance).
Reports can also be used for Strategic Purposes (Portfolio
at RISK (PAR) Report, Repayment Reports, Status Report,
Income Statement, Balance Sheet, Savings Reports, Loan
Reports are can also be used for external agencies (PCFC,
BIR, Central Bank, etc.). Examples are Statement of
Expenses (SOE), Financial Books of Accounts (CRB, CDB, JV,
General Ledger, List of Agency-Monitored Loans, List of
Agency-Monitored Savings, List of Savings for those clients
with delinquent Agency-monitored Loans, etc.)
List of Reports
Auditors’ Adjustments Book
Summary (CR, CD, JV, Closing)
Sheet (One Column, Comparative)
Statement (one Column, Comparative)
of Accounts (Loans and Funds)
Balance after Year-end Closing
Balance for the Day
List of Clients Loan
at Risk (PAR) with Repayment Rate
Report with PAR
of Loans Fully Paid this Month
Ledger (Micro Finance)
Report (Detail and Consolidated)
of Loans and Discounts
Report (Matured and Unmatured)
Sheets / Letters
of Number Loans (by Loan Cycle, by Project Type, by Sex)
of Expenses (PCFC, OWN)
of Approved Loans (for a period)
of Personal Savings (Micro Finance)
of Account (MF) – Savings Ledger
of Savings by Aged PAR
of Depositors (by Loan Size, etc)
of Activities done in the system
Reports and other reports integrated in the screen forms
1. Consolidation Software:
Another software that complements to the CommonCents
Consolidates the branch data processed by the CommonCents
Software installed in each branch by capturing or importing
data (from files sent by the different branches) and
consolidates these data to come up with institutional
Module to store and process individual Branch and Centers
Module to import data from branches.
Module to export data back to the branches that are using
Reports modules are capable of generating summarized reports
(lowest level is by centers) and come up with
Modules which store and process historical data and can be
generated to produce reports which will compare the
performance of branch or by periods (month trending) and
generation of reports by specific branch.
The CommonCents Software Side (Branch Side) has
facilities/modules to export data from the branch database
and put it in a file to be sent to the head office for
The Consolidation Software is still under testing by our
existing client partners and will be improved based on their
comments and suggestions.
License price is the same as that of one CommonCents
2. Banking System (for CommonCents 101 - for Banks):
The “CommonCents 101 for Banks” has evolved and come into
existence due to some banking information and reportorial
requirements requested by existing client-partners and other
The banking software Includes the core systems stated in the
Micro-Finance system plus a banking system. The CommonCents
101 MF and Banking Software now becomes 3-in-1 + 1
integrated software. The banking system is composed of new
modules and reports added to the existing system. With these
four systems in place, the “CommonCents 101 for MF and
Banks” can now be used to handle almost all of the
operations of a bank with simple functions.
Reports specific for banking operations.
Detailed descriptions of each banking module and report will
be published soon. The none publication of these
descriptions (features) is done deliberately in order for
you-- evaluators-- to focus first on the microfinance side
of the software.
3. Back-up Facility:
Has an internal back-up facility--you can back up your data
within the system.
The backup also integrates compression and repair of the MS
Has a similar module that transfers the content of old
database (old version structure) to a new one (new
structure). This module is designed to upgrade your database
system to a new version from time to time.
4. Maintenance and Patch Facilities:
Have also “patch” and/or maintenance modules. These modules
are specifically designed to handle maintenance and to
correct minor bugs. This can also be used for technical
support because it uses an SQL statement to correct or
update existing databases.
Has proven to be very effective in supporting far-away
branches/organizations. From experience, almost all of the
corrections have been done by sending an SQL statement
(probably by mobile phone using its SMS feature) and running
this statement in this module to correct problems.
Built-in diagnostic modules in the system can help protect
data integrity and correct errors.
5. Parameter-Driven Software:
The CommonCents 101 system is designed in a way that it can
handle idiosyncrasies of a Micro-Finance Operations (ex.
Different types of MF Savings) by changing some of the
It has a “Standard and Set-up” Module specifically designed
to handle the differences among MFIs in terms of naming
conventions, loan collection policies, savings interest and
withholding computations, Loan Interest computations,
Penalty Computations, Dormant Accounts policies, Advance
Payments, Order of Collections—principal, interest, savings,
Mutual Aid Fund, etc.
It has also a configuration (INI) file where in you can also
set some of the parameters being used by the CommonCents 101
6. Security and User Accessibility:
Comprehensive and Unlimited Accessibility or Security
Set-up. Can create unlimited number of user groups (with
unlimited users in each group). These groups can have
different accessibility rights depending on your set-up.
Accessibility rights may be defined in a group level, menu
level, form icon level and even on each object level with
encryption in password. This means that each group can be
restricted to a certain module by limiting its menu. Within
the form, they can be restricted to the different icons and
even to some objects (text, labels, grid, buttons, etc.)
Has module that records login historical activities. These
historical activities can be seen upon printing of the
historical event reports.