Most countries will have industry umbrella organisations such as trade associations and practitioner networks. Maintaining membership with these umbrella organisations is key because MIVs will often approach the networks when first considering investment in a new market. Networks will often have knowledge of which funders are working in the market and may connect MFIs and funders if there is a potential fit. Membership will allow you to access these opportunities in addition to other services these associations provide, such as software vetting and industry best practices.
Members of your business network – for example, your contacts in the public, commercial banking or non-government sectors – might also be able to introduce you to MIVs that focus on your territory or market segment.
Your reports and statements should follow the international accounting standard for your country – usually Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). You should also adhere to international definitions and standards when calculating PAR and other core metrics.
Digital transformation: an important step on the roadmap to funding
If your organisation plans to apply for external funding, you can start preparing by shifting from manual processes and legacy technology to a modern, cloud-based platform, which will allow you to plug into digital fintech and take advantage of industry trends. The Oradian toolset enables you to grow and gain business benefits by becoming more efficient, making informed decisions and reaching more clients.
In addition to helping you craft a technology strategy to address your business, goals, challenges and opportunities, the Oradian team can help you review your business’ processes and operations. Then we identify which areas of your business and which processes can be improved and how, using global best practices.
With the right platform in place, you can make informed decisions with accurate real-time reporting. In just a few clicks, you can consolidate data from all your branches and create reports that follow best practice. No more end-of-the-month processes, waiting for reports to be done manually. You have accurate on-time reports all the time, which will impress a potential funder.