Top ERP|CRM|Cloud Application Provider Company in Mumbai

Bigsun NBFC ERP

Bigsun NBFC ERP is a thoughtfully designed product that addresses the basic challenges of an NBFC i.e Manual Processes, Data Silos and Compliances.

It helps growing NBFCs to manage their AUM smoothly by providing them with the tools and insights they need to make sound business decisions. Robustness and reliability of Bigsun NBFC ERP helps manage all of the complex needs of an NBFC, from loan origination to accounting to compliance.

Our NBFC ERP has been a partner in growth to some of the reputed brands in the business and has helped them grow their AUM by more than 100% YoY. Our client partners have experienced benefits like improved efficiency and productivity, reduction in costs, improved decision-making and enhanced customer satisfaction.

The Process

1. Lead Management and CRM
  • Capture lead information (name, contact information, company, etc
  • Qualify leads (interest level, budget, etc
  • Assign leads to sales representatives
  • Track sales pipeline and activities
  • Close deals and convert leads to customers
  • Lead scoring and routing
  • Mobile app for sales representatives
2. Loan Origination System (LOS)
  • Collect customer information and loan application
  • Assess customer creditworthiness
  • Generate loan offer
  • Obtain customer approval and signature
  • Disburse the loan
  • Customizable loan pipeline
  • Custom Approval matrix
  • Integration with credit bureaus
  • Digital signature integration
  • Mobile app for customers to track their loan application status
3. Loan Management System (LMS)
  • Track loan payments and schedules
  • Generate loan statements
  • Manage collections and delinquencies
  • Process loan closures
  • Customer portal to access statement of account, NOCs, and closure letters
  • Digital signature integration for loan documents
  • Auto-receipts and disbursements
4. Integration with the Financial Accounting System
  • Sync all loan transactions with the financial accounting system
  • Customizable sync settings
  • Integration with popular accounting software
5. Regulatory Compliance
  • Generate regulatory reports
  • Track regulatory changes
  • Manage compliance audits
  • Built-in compliance rules
  • Automated regulatory reporting
6. Business Reporting
  • Generate reports on loan portfolio, performance, and profitability
  • Track key business metrics
  • Generate custom reports
  • Real-time reporting
  • Customizable reports
  • Drill-down capabilities

Key Features

1. Fully Integrated (CRM + LOS + LMS + FAS)

This is a crucial feature of our NBFC ERP suite, as it solves the problem of disparate systems and silos of data. A fully integrated system allows for seamless data flow between all departments and functions, ensuring that everyone has access to the information they need to make informed decisions.

Benefits of a customized and fully integrated NBFC ERP suite:

Improved efficiency and productivity: By eliminating the need to manually transfer data between systems, a fully integrated ERP suite can help NBFCs to streamline their workflows and automate many manual tasks. This can lead to significant improvements in efficiency and productivity.

Reduced errors: By automating data entry and validation, a fully integrated ERP suite can help to reduce errors and improve accuracy. This can lead to improved customer satisfaction and reduced costs.

Better insights: By integrating data from all departments and functions, a fully integrated ERP suite can provide NBFCs with a complete view of their business. This can give them the insights they need to make better decisions about their products and services, marketing campaigns, and overall business strategy.

Enhanced compliance: A fully integrated ERP suite can help NBFCs to ensure compliance with all relevant regulations. This can give them peace of mind and help them to avoid costly fines and penalties.

If you are looking for an NBFC ERP suite that can help you to solve the problem of disparate systems and silos of data, then a customized and fully integrated solution is the way to go. Our ERP suite is used by some of the leading NBFCs in the country, and we are confident that it can help you to achieve your business goals.

2. Automated disbursements and collections

Automated disbursements and collections integrated with the bank's system is a critical feature of our NBFC ERP suite. It allows NBFCs to automatically disburse loans and collect payments from customers, without the need for manual intervention. This can lead to significant improvements in efficiency, accuracy, and customer satisfaction.

Automated disbursements and collections work by integrating the NBFC ERP suite with the bank's system. This allows the NBFC to automatically send and receive payment instructions from the bank, without the need for manual intervention.

When a loan is approved, the NBFC ERP suite can automatically generate a disbursement request and send it to the bank. The bank will then process the request and disburse the loan to the customer's account.

Similarly, when a customer makes a payment, the bank can automatically send a payment notification to the NBFC ERP suite. The ERP suite will then update the customer's loan account and generate a receipt for the customer.

3. Auto-Reconcile General Ledger and Statement of Accounts

The auto-reconciliation feature typically works by comparing the following data:

  • General ledger account balances
  • Loan management system account balances
  • Transaction details from both systems

If there are any discrepancies between the two systems, the auto-reconciliation feature will generate a report that identifies the discrepancies. This report can then be used to investigate and correct the errors.

4. Automated LOS processing (Application management - Documentation - credit appraisals - approvals with Workflow automation).

This feature automates the entire loan origination process, from application management to documentation to credit appraisals to approvals. The workflow automation feature allows NBFCs to define and automate the steps involved in the loan origination process. This helps to ensure that the process is efficient and that all tasks are completed on time.

Automated LOS processing helps NBFCs to streamline their operations and improve their efficiency and productivity. This is because the system can automate many of the manual tasks involved in the loan origination process. It also helps NBFCs to improve their customer service by providing customers with a faster and more efficient loan origination process.

By streamlining the loan origination process and making it more efficient, NBFCs can process more loans in a shorter period of time. This can lead to increased loan volume and revenue growth.

5. Automated LMS operations like loan appropriation, loan underwriting, SOA, Inventory management and multiple customer letters generation

The automated LMS operations feature in our NBFC ERP suite is a valuable tool that can help NBFCs to streamline their loan management system and make it more efficient and effective.

Assessing the creditworthiness of loan applicants and determining whether to approve or reject their loan applications. Automated LMS operations can automate this process by using machine learning algorithms to assess the risk of each loan application.

Statement of account (SOA) that provides borrowers with a detailed overview of their loan accounts, including loan balance, interest payments, and repayment schedule. Automated LMS operations can automate the generation of SOAs by automatically retrieving data from the loan management system and generating reports in a variety of formats.

Generating and sending multiple types of letters to customers, such as loan approval letters, loan disbursement letters, and loan repayment reminders. Automated LMS operations can automate this process by generating letters in a variety of formats and sending them to customers via email or SMS.

6. Advanced Analytics with Regulatory Reporting

There are a variety of reports to track the performance and make business decisions available in the NBFC ERP suite. Some of the most common reports include

Loan portfolio report that provides an overview of the NBFC's loan portfolio, including the number of loans, loan amount, and interest rates.

Customer report that provides an overview of the NBFC's customer base, including customer demographics, loan history, and repayment behavior.

Financial performance report that provides an overview of the NBFC's financial performance, including revenue, expenses, and profits.

Compliance report that tracks the NBFC's compliance with all relevant regulations.

Advanced analytics the quality of NBFC reports by providing comprehensive analysis and actionable insights. It helps to improve business performance by identifying profitable customer segments, developing new products and services, improving risk management practices and ensuring compliance with regulations.

7. Integrations with banking and third party APIs like CIBIL and KARZA

The ability to integrate with third-party companies like CIBIL (credit score verification) and KARZA (GST verification) for the underwriting process is a valuable feature in our NBFC ERP suite. It helps NBFCs to expedite the underwriting process, reduce errors, and improve the accuracy of their credit decisions.

The integration between the NBFC ERP suite and the third-party companies allows NBFCs to automatically retrieve credit score and GST data from these companies. This data can then be used to assess the creditworthiness of loan applicants and make informed credit decisions.

Benefits of integrating with third-party companies for the underwriting process:

Expedited underwriting process: By automating the retrieval of credit score and GST data, NBFCs significantly expedite the underwriting process. This is because NBFCs no longer need to manually request this data from the customers.

Reduced errors: Automating the retrieval of credit score and GST data helps NBFCs to reduce errors. This is because the system can minimize the risk of human error in tasks such as data entry.

Improved accuracy of credit decisions: By having access to accurate and up-to-date credit score and GST data, NBFCs can make more informed credit decisions. This helps NBFCs to reduce their risk of bad loans.

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