Octopus Micro Finance Suite
Encyclopedia
Octopus Microfinance Software is an open source
(LGPL
) microfinance
IT software.
This software is available to the community of microfinance institution
.
and thus of this project is to make the customers responsible for their small amount loans, to develop business entrepreneurship. Microcredit helps them become self-sufficient enough to ensure their project’s viability in the long run.
Octopus is a Social Business
that helps MFI to improve their efficiency and transparency through Open-Source. The objective is to make available as widely as possible a robust and intuitive MIS for Microfinance Institutions.
OCTO Technology has participated to the creation of OXUS Development Network
, ACTED
’s subsidiary that specializes in micro finance projects in Central Asia. As the technical partner, OCTO Technology has undertaken the definition of Oxus’s IT systems : OCTOPUS.
In 2006 this expert patronage gave birth to the first Open Source version of Octopus, freely available to http://sourceforge.net/projects/omfs/files/.
In July 2007, Octopus announced their partnership with PlaNet Finance
(French Microfinance leader) for distributing the software to small MFIs.
In 2009, the community published its Manifesto : for the continuous improvement of Micro Finance Institutions through the use of Information Technologies.
At the end of 2010, the software is used by 15 MFIs with regular use of technical support and 15 others self-sufficient MFIs. The software is updated every month (system releases), and the latest stable release has been downloaded 500 times in two months. The online help forum and the wiki are frequented by 500 users. In September 2010, OXUS managed a 12M$ portfolio in Central Asia with Octopus.
This approach helped in improving the communication between the headquarter and the field, focusing on the main characteristics of the processes and the architecture. Using short descriptions and pictures for patterns helped Oxus staff understand what was going on.
A 10 person team is in charge of developing an integrated software aimed at optimizing day to day activity: clients, contracts, global accounting and risks.
This software is available to the community of micro finance institutions. We keep on developing it to add new features and adapt it to the field specificities
Octopus is developed with the [Agile method |Agile_software_development], based on [continuous improvement | Continuous_improvement]. A new release comes out every month.
technologies.
Open source
The term open source describes practices in production and development that promote access to the end product's source materials. Some consider open source a philosophy, others consider it a pragmatic methodology...
(LGPL
GNU Lesser General Public License
The GNU Lesser General Public License or LGPL is a free software license published by the Free Software Foundation . It was designed as a compromise between the strong-copyleft GNU General Public License or GPL and permissive licenses such as the BSD licenses and the MIT License...
) microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
IT software.
This software is available to the community of microfinance institution
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
.
The project
The aim of microcreditMicrocredit
Microcredit is the extension of very small loans to those in poverty designed to spur entrepreneurship. These individuals lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit...
and thus of this project is to make the customers responsible for their small amount loans, to develop business entrepreneurship. Microcredit helps them become self-sufficient enough to ensure their project’s viability in the long run.
Octopus is a Social Business
Social business
Social business, as the term is commonly used, was first defined by Nobel Peace Prize laureate Prof. Muhammad Yunus and is described in his books Creating a world without poverty—Social Business and the future of capitalism and Building Social Business—The new kind of capitalism that serves...
that helps MFI to improve their efficiency and transparency through Open-Source. The objective is to make available as widely as possible a robust and intuitive MIS for Microfinance Institutions.
History
The OCTOPUS project started in 2005.OCTO Technology has participated to the creation of OXUS Development Network
OXUS Development Network
OXUS Development Network is the result of the transfer of the Agency for Technical Cooperation and Development Microfinance activities in a dedicated organisation...
, ACTED
Agency for Technical Cooperation and Development
The Agency for Technical Cooperation and Development is a non governmental organization. Privately owned, non political and non profit, ACTED was set up in 1993...
’s subsidiary that specializes in micro finance projects in Central Asia. As the technical partner, OCTO Technology has undertaken the definition of Oxus’s IT systems : OCTOPUS.
In 2006 this expert patronage gave birth to the first Open Source version of Octopus, freely available to http://sourceforge.net/projects/omfs/files/.
In July 2007, Octopus announced their partnership with PlaNet Finance
PlaNet Finance
PlaNet Finance is an international non-profit organization with the mission to alleviate poverty through the development of microfinance, therefore increasing the unbanked and underbanked's access to financial services....
(French Microfinance leader) for distributing the software to small MFIs.
In 2009, the community published its Manifesto : for the continuous improvement of Micro Finance Institutions through the use of Information Technologies.
At the end of 2010, the software is used by 15 MFIs with regular use of technical support and 15 others self-sufficient MFIs. The software is updated every month (system releases), and the latest stable release has been downloaded 500 times in two months. The online help forum and the wiki are frequented by 500 users. In September 2010, OXUS managed a 12M$ portfolio in Central Asia with Octopus.
Methodology Approach
- The analysis of organisational patterns, business processes and the existing system
This approach helped in improving the communication between the headquarter and the field, focusing on the main characteristics of the processes and the architecture. Using short descriptions and pictures for patterns helped Oxus staff understand what was going on.
- The incremental creation of the information system
A 10 person team is in charge of developing an integrated software aimed at optimizing day to day activity: clients, contracts, global accounting and risks.
This software is available to the community of micro finance institutions. We keep on developing it to add new features and adapt it to the field specificities
Octopus is developed with the [Agile method |Agile_software_development], based on [continuous improvement | Continuous_improvement]. A new release comes out every month.
Used technologies
OCTOPUS is mainly based on Microsoft .NET Framework.NET Framework
The .NET Framework is a software framework that runs primarily on Microsoft Windows. It includes a large library and supports several programming languages which allows language interoperability...
technologies.
- SQL ServerMicrosoft SQL ServerMicrosoft SQL Server is a relational database server, developed by Microsoft: It is a software product whose primary function is to store and retrieve data as requested by other software applications, be it those on the same computer or those running on another computer across a network...
/ SQL Server ExpressSQL Server ExpressMicrosoft SQL Server Express, a freely downloadable and distributable version of Microsoft's SQL Server relational database management system, comprises a database specifically targeted for embedded and smaller-scale applications.- Capabilities :...
/ MSDEMSDEMicrosoft SQL Server Data Engine is a relational database management system developed by Microsoft. It is a scaled-down version of Microsoft SQL Server 7.0 or 2000 which is free for non-commercial use as well as certain limited commercial use...
database engine - WinForms application written in C#
- Reports built with Crystal ReportsCrystal Reports-External links:*****Reviews:****...