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Feb 18th
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Home Technology India IndiSoft announces the launch of ‘RxOffice NPA’

IndiSoft announces the launch of ‘RxOffice NPA’

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Mumbai : IndiSoft, a technology development firm, announced the launch of ‘RxOffice NPA’ for the financial sectors in the Indian markets based on the recent guidelines set by RBI and Global market trends for NPA.
With the launch of this product “RxOffice NPA”, the company is leveraging its capabilities in the Default Management, bringing forth its expertise and success from the US Finance industry to the Indian market.
IndiSoft provides Software as a Service (SaaS) solutions based on a collaborative rules-based workflow platform for the financial services industry.
Mr S.R Sabnis, Director Cosmos Bank said,”We are glad to be associated with IndiSoft and Rx Office NPA will be extremely helpful in managing the default loans.”
Mr Sanjeev Dahiwadkar, President Indisoft said, Rx Office NPA has helped banks in United States to manage their loans in a way where their number of cases increased in a year and there was a remarkable reduction in the number of resources.
Mr Prasad Nagool CEO, IndiSoft said, “We believe, the development of RxOffice NPA with the business expertise from Cosmos Coop Bank, will enable financial organizations to manage, track and take appropriate actions within the Legal and RBI guidelines on the Non-Performing Assets (NPA’s).”
Mr R.B.Barman, former director RBI said, "this product follows the guidelines presented by RBI and as it goes through its life cycle, it will bring in more intelligence. Also this product will give much more value to the cost it incurs”.
The main reason behind launching RxOffice NPA are:

1. Rule and Role based system ensuring the information security.

2. Unique Comfort indicator which guides the user about recovery rating for the loan.

3. Workflow based system with all the standard workflows from Collection to Sales including 138.

4. Provision of batch handling for Collection

5. Vernacular language printing of Notices

6. Keeping a track of payments receipts

7. Can integrate with any CBS.

8. Tracking and Dashboard ensures that the users are always updated on the current scenarios and next To Do activities.

9. Secured mail inside the application ensures the data security.

10. Host of reports including statement 3.


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