Chit Fund Software - MazeChit

MazeChit is a user-friendly chit fund management system for many chit fund owners that reduces the time in generating reports and increases the quality and accurate process of chit fund operations effectively!!!
For more information about MazeChit visit: ChitFund Software - MazeChit or reach us at 1800-212-33-4646 / 7397723052.

What is the difference between web-based and mobile-based chit fund software?

Many chit fund owners have become flexible to use the chit fund software. The chit fund software, that becomes the handy solution for the chit fund owners are available in web-based and mobile-based types. The chit fund owner can buy any of the above modes in order to come up with a keen understanding of the chit fund processes.

Few chit fund companies wish to have a web-based chit fund software and a few wishes to have a mobile-based one. But, comparatively, both will give its benefits to the users without any lag.

When it comes to the web-based application, these are the common things available in any chit fund software like MazeChit. Every online chit fund software is a versatile ERP application that will come up with providing secure online access to the subscribers based on the information on the next payment. Added, it also facilitates the essential features required to streamline the chit fund activities. It not only systemizes the activities but cuts down the report preparation time as well. You can also use the chit fund software in the processes including balance sheet, profit, and loss statement, and other essential business operations.

On the contrary, the mobile-based chit fund software simplifies the chit fund activities. At the same time, with the help of the mobile app, you can work anywhere, paperless, and are considered to be a cost-effective one also. Customers will have the ease to know the information about the auctions and it will become a handy way for the chit fund owner as well. It helps in working with increased convenience to the subscribers and the receipts are also generated through the app. It helps in improving the communication between the chit fund management and subscribers.

In a nutshell, both the web-based and mobile application of the chit fund software turns down to a handy solution for all chit fund problems. In order to manage your chit fund operations efficiently, you can dive into the purchase of either one of the above-mentioned software that promotes your business growth. To avail free chit fund software demo, visit us. MazeChit or reach us at 7397723052.

Chit Fund Management Software - MazeChit

Manage all the chit fund process at your place with the support of chit fund software- MazeChit that simplifies all your chit fund activities at one go.

For more information about the visit: ChitFund Software-MazeChit or reach us at 1800-212-33-4646 / 7397723052.

MazeChit - An automated and errorless chit fund software

MazeChit - An automated and versatile chit fund software that helps to take care of all your chit fund operations at any time without any hassle.

Avail free chit fund software demo - ChitFund Software-MazeChit or reach us at 1800-212-33-4646 / 7397723052.

ChitFund Software-MazeChit | Free ChitFund Software Demo

MazeChit is a user-friendly chit fund software, that reduces all your chit fund operational burden. Irrespective of the pandemic situation, MazeChit a single solution to manage all your chit fund activities without hassle at your place. It supports both online and offline mode and also satisfy your customers' requirement and increases your business growth.

To Avail Chit Fund Software Free Demo click-> ChitFund Software-MazeChit or reach us at 1800-212-33-4646 / 7397723052.

ChitFund Software-MazeChit

Afraid of losing your chit fund business during this lockdown? Do not worry!! MazeChit has caught your attention at the right time. Buy ChitFund Software-MazeChit along with mobile and web applications to interact with your subscribers and extend your business relationship. Our MazeChit Demo is free!! Avail it now by clicking here. ChitFund Software-MazeChit or reach us and 1800-212-33-4646 / 7397723052.

ChitFund Software-MazeChit | Chit Fund Software Free Demo

Take your chit fund process, along with you wherever you go!! MazeChit a handy solution to handle all the chit fund operations anywhere at any time!!!

To view or purchase click chit fund software-MazeChit  or reach us at 1800-212-33-4646 / 7397723052.

ChitFund Software-MazeChit

MazeChit's new accounting module!!!

Introducing our all-new accounting module that will not only handle chit transactions but also all other finances transaction (for eg: any other income - bank interests received, any other expenses - salary, miscellaneous charges paid, etc.,) of your business operations. This new module is designed to save on time and manpower while maintaining error-free accounting reports of your business.

To purchase click-> ChitFund Software-MazeChit or reach us at 1800-212-33-4646 / 7397723052.

CHIT FUND SOFTWARE - MOBILE APPLICATION!!!

Irrespective of your quarantine days, use Mazechit's mobile application to have a sequential flow in your chit operations without any lag. Make use of this opportunity and interact with your customers using the MazeChit mobile app.
To purchase our chit fund software - MazeChit visit: Chit Fund Mobile Application or reach us at 1800-212-33-4646 / 7397723052.

TOP 10 KEYPOINTS OF CHIT FUND SOFTWARE - MAZECHIT

Mazenet has come up with the right alternative to shake hands with you in this hectic period. MazeChit- an award-winning chit fund software is there to handle all your chit fund operations in an efficient manner. You can purchase the software that works in offline mode too. What’s more? You can remotely manage all the chit auctions taking place and intimate your subscribers about the auction date and the other required alerts too. In addition, you can have a cleanse look at the payment transactions using the user-friendly chit fund application - MazeChit. Without any second thought, indulge in the purchase and keep your business steady in this situation.

 To purchase chit fund software-MazeChit click-> Chit Fund Software or reach us at 1800-212-33-4646 / 7397723052.

CHIT FUND SOFTWARE - CALCULATE ALL YOUR CHIT OPERATIONAL PROCESS!!!

You can finally bid adieu to manual calculations! MazeChit has integrated features that will auto-calculate all chit related transactions including bonus percentages!

To purchase our chit fund software click here-> Chit fund Software or 1800-212-33-4646 / 7397723052.

What is the comprehensive usage of chit fund software?

The chit fund owners have started using chit fund software. There are many uses of the chit fund software. Any technological invention will give many benefits to the users. Likewise, the chit fund software also gives multiple advantages. When a particular chit fund documentation has to be done through paper, the chit fund software has made it paperless.

Due to the flexibility and the efficiency of the software, many chit fund owners are increasingly using the chit fund software. Having an aid to manage all your chit fund processes is a technological gift. Many digital innovations have created a milestone in many industries.

Likewise, the chit fund software uses have been benefiting the chit fund owners all over the world. Chit fund software available in multiple organizations is getting high ROI and increased customer satisfaction. The chit fund software helps in the betterment of dealing with multiple branches, managing employees, and assisting your subscribers with payment confirmation status.

Chit Fund Software-MazeChit-Multiple Branch Handler

Instead of managing your chit branches separately, use MazeChit's multiple branch support to enhance profitable business flow.

To avail, free MazeChit live demo visit: Chit Fund Software-MazeChit or reach us at 1800-212-33-4646 / 7397723052.

What are the features of the Chit Fund software?

The advent of chit fund software has promoted chit fund operations effectively. Many enterprises are buying chit fund software in order to handle their chit fund operations flawlessly. Chit fund software contains many attractive features that help the owner to have easy access to multiple branches, getting instant payment updates from the collection agent, and many more. The features of the chit fund software have been detailed below.

The chit fund software available online can be accessed through web mode and mobile too. Here are the features of the web-based chit fund software.

• Multiple chit support: It helps in managing different types of chits including auction chit, slab based chit, profit chit, and commitment chit
• Security Management: It helps in automatic log out, password encryption, approval mapping, and log monitoring as well.
• Timely alerts and intimations: It helps in alerting the customers regarding the auction amount, auction date, and other relevant information.
• Effective Customer, employee and Group Management: It helps in managing the customers, employees, and chit groups by the chit owner.
• Clear Loan Modules: It helps the chit owners to get detailed loan payment details and reports.
• Transaction Reports: It helps in getting a detailed report about the income and the expense of the particular chit company.
• Collection Agent details: It enables the chit fund owner to have a clear note about the collection agent and their respective details.
• Multiple report Generation: It helps in generating multiple reports including auction report, collection report, business agent report, and many more.

Other than the web-based chit fund software, the mobile application helps in reducing complex chit operations. It also expands the comfort of the customers using the particular chit fund application. Thereby, the software helps in enabling a smooth communication between the customers, chit owner, and the employees as well. The distributive features of mobile application help the chit fund owner to do the enlisted things.

• Generation of both offline and online receipts
• Mapping employee to multiple customer locations
• Customer verification by Collection agent
• Device activate and deactivate operation of the agents

Having a chit fund software in an enterprise will enable the chit fund owner to have an easy operation flow without any hurdles. The chit fund owner can easily fetch any information about the chit auction or a particular collection report of an agent.

To know more about the chit fund software, reach us. ChitFund Software - Mazechit

Chit Fund Software - MazeChit - " For the trust to your Subscribers and to your Comfort"

Swipe off your chit fund operational burden using MazeChit - An award-winning chit fund software!! Here is the flexible and comfortable chit fund software to improve your business growth.

To know more information visit: MazeChit - Award Winning Software

To Avail Free Online Demo click-> MazeChit Free Online Demo

How do I get maximum benefit from chit fund?

In many developing countries, chit funds have become economically the wise option. It has become popular among the household and the small business field. Chit funds serve as the best outcome in multiple and social functions.

In recent days, the participation of chit members in chit funds has been increased. Here is the reason behind it.

• A mechanism with the faster acquisition of expensive goods

• A commitment system for enhanced saving and borrowing options

• A sort of insurance against participants’ risk

• A social engagement platform

In India, chits ought to become an interesting context. It helps in re-examining its economic rationale. Chit funds have become more reliable in comparison with formal finance. It is due to the factors including standardised product features, institutionalised offerings, and formal finance.

Chit funds provide many benefits to the members who have been indulged in it. Though there are many chit fund companies, people are aware of the right organisation to move upon. Many people move toward chit funds due to the reason of both saving and borrowing money at the same time. Being a foreman also adds up an advantage.

When you are investing money in chit fund organisation, then the organisation remains as the chit foreman. Hence, all the transactions and auctions are ought to be conducted through the organisation itself. It is also a time-saving thing as nowadays, the organisations are focused upon using useful chit fund software.

The work of the software is to keep ahead all the works done and make the cash flow normal. It reminds the auction data to the members and helps in keeping the working environment normal.

Is investing in multiple chits advisable?

As chit fund becomes easy and recommended a form of saving, people wish to indulge in multiple chits. Investing in multiple chits at the same time is somewhat daunting. Hence, research has been needed to identify it in detail.

In a recent report, one in four people wishes to have more than one chit at a time. Due to the unique features and benefits of the chit funds, the members of the chit funds are moving toward investing in multiple chits. These are the benefits gained by the chit fund member. 

For more Clarification visit: Chit Fund Software Live Demo or contact us at toll free: 1800-200-1766 / 7397723052.

What benefits does a member and manager get from a chit fund? Does a chit fund have advantages or disadvantages in comparison to a savings account in a bank?

In a chit fund, all the members are bound to contribute a fixed amount on a monthly basis. For example, if a chit group has 10 members, one among them stands as a member and a foreman too.

Foreman or chit manager is the one who manages several chit operations and thereby conducts auctions too. He is responsible for the amount paid by the other members. He needs to keep track of the auctions and the members’ who have won the particular auction. The benefit of chit manager is that in every auction, 5% of the winning amount will be given to him/her.

As we all aware of the fact that chit funds are bringing a major revolution in the saving and borrowing realm. Compared to the savings account, chit funds are way better to help people in hectic situations. Chit funds help an individual to save money and at the same time, he/she can borrow money which when needed at the auction time.

Which is better in chit funds? Saving or borrowing?

According to the report, around 58% of the households employ chit as it results in saving bulk money. Let us see it in detail.

Chit as a saving vehicle

Usually, chit fund participants are more likely to join chit funds in order to save money. As per research, only 6% of households wish to borrow money through chit funds.

Chit funds are the great savoir in the money-saving field. Many individuals are searching for a way to save money. In that case, chit funds bring bliss in the saving realm.

Another added advantage is that the chit members can withdraw their savings amount at any time by bidding in any auctions.

Chit as a borrowing vehicle

In chit funds, the amount can be borrowed at any auctions by bidding the amount in need. Through borrowing, the individuals experience repayment flexibility. Unlike many conventional bank loans, the amount borrowed from chit funds can be paid off like amortising loan.

For more details regarding Chit Software visit: Chit Fund Software Live Demo or contact us at toll free: 1800-200-1766 / 7397723052.

How does a Chit fund make money?

Chit fund sector has now become the most convenient form of saving and borrowing money without any interest. Many households are finding it easier to invest in chit funds. Rather than getting panic about chit funds, the number of members joining in a chit fund has been increased. It is mainly due to the benefits and the sum of money gained at the end of every auction.

Who hates to save bulk amount in the short term???

The chit fund members ought to get good fortune by saving money in the chit funds. Few think whether saving is a good option or borrowing. According to survey, saving seems to the bright option through chit funds.

The report says that around 58% of the households depend on chit funds as it helps greatly in saving money. Rather than borrowing, many individuals consider chit as a weapon to save money. But, it is up to the member. He/she can save or borrow as per his/her wish.

Chit funds make money, but how?

We all aware that chit fund helps us in making money. Few newbies do not have enough knowledge about the process involved in chit funds. Hence, here is the short description through which individuals make money through chit funds.

Consider A as a member of the chit fund. In his chit fund, there are around 10 members each contributing 1000 rupees for 10 months. So, A and other members in the chit funds contribute 1000 rupees monthly. Now, the loop divides into two. Every month after the amount contribution, an auction will take place. It will be conducted and managed by one of the members ( Foreman).

During the auction time, any members from the chit fund can ask for the necessary amount. If the bid goes more than one, then the member who bids the lowest amount gets the amount. From the bid amount, 5% will be given as the foreman charge and the rest of the amount will be given to the respective member.

The process is done.. Many traditional chit funds ought to follow the same method as discussed above. Try to get more information about the chit funds and get involved in it. According to the current scenario, investing in chit fund returns more profit than investing in gold or some other cases.

For more details regarding Chit Fund Software visit: Chit Fund Software Live Demo or contact us at 7397723052.

#ChitFund #ChitFundSoftware #OnlineChit #OnlineChitSoftware #ChitManagementSoftware #MultipleChitSoftware #ChitMobileApp #FreeDemoChitSoftware #Mazenet #MazenetSolution #MazenetTechnologies #MazeChit #OnlineChitFundSoftware

Can anyone from India explain a chit scheme with a simple example?

Chit fund industry has been evolving in the recent years. Chit funds are considered as the best saving option to which households can opt upon.

So, how chit funds work?

Let us start from the base. According to the Chit Fund Act, 1982, a chit fund is a type of rotating savings and agreements among multiple members. The members can be either colleagues, friends, relatives, neighbours. The members of the chit funds contribute a certain sum of money for a short period of time.

Say, if 50 members are there in a chit group. Each wish to contribute 1000 in a monthly basis for 10 months. If so, they will get a sum of 10,000 at the end. Chit funds are also known as Chitty, Kuree, and chit.

The picture explains the flow of money at chit funds in detail.

Are chit funds safe? Of course, yes!! Here is the reason!!

Before that, there is a person called foreman in every chit fund group. Every chit group selects one member among them as the foreman. He is responsible for the amount and the monthly auctions. In return, every month he will get 5% of the money given at the end of auction.

Before commencing the chit group, the foreman has to register the company with the registrar of chits. It is mandatory for every chit fund group either local chit group among relatives or a registered chit fund organisation.

During registering, the owner of the chit has to pay 100% of the chit value to the registrar of the chits. It is the resemblance of giving security. Once the chit group closes, the deposited amount can be withdrawn once every subscriber is free of his/her dues.

If the chit is not registered, neither the owner pays the security amount nor he is responsible for the amount deposited by the subscribers.

In other words,

Chit fund follows an exact analogy regarding kitty party. In the kitty party, the party will be arranged every month under different subscribers’ place. Likewise, chit fund subscribers contribute certain amount equally in a monthly basis and one subscriber gets the collected money.

The only difference between chit fund and kitty party is that lucky draw takes place in kitty party whereas in chit funds, auction takes place. Nowadays, many chit fund organisations have been involved in using chit fund software.

Chit fund software, but why?

Because, the chit fund software has become a handy solution for the hurdles faced by chit fund organisations. All the chits and other related data has been handled by the chit fund software. Other than that, the chit fund software helps in bringing up many benefits to the user.

To know more about visit: Chit Fund Software Free Live Demo

What is the concept of a chit fund, and is it good to be part of it or not?

Chit fund is not a new term into the accounting realm. Instead, the chit funds are popular due to the attractive option that involves both saving option and borrowing one.

By pooling candidates on a monthly basis, the chit funds run in a routine manner. Many individuals feel it as the best saving option.

Due to the recent demonetisation phase, many people began focusing on the financial sectors. As a result, the number of chit funds has increased. Various traditional channels have become active in their own way.

According to the recent study named, Chit fund participation and sources of economic value, chit fund saving has become one among the top three saving options. The study examined the pattern of chit fund usage in Kerala.

Chit fund mainly has the benefits thereby increasing the rate of interest in banks. Other than chit funds, people are interested in investing money in gold and land. The study also stated that 18 percent of the respondents ensured collection agent in the periodical basis.

The reason behind the popularity!!

In the choice of remitting money, convenience and flexibility are the most important attributes of chit funds. Hence, the number of people moving toward the chit fund has been increasing.

The table below helps in giving a clear understanding of chit funds and the reason behind the popularity.

Chit funds are popular due to its saving methodology. Though chit fund enables an individual to save and borrow money, the members are not liable to any tax divisions. These are the reasons why chit funds are popular.

In the saving perspective, many chit fund subscribers wish to make a huge amount of money at the end of every scheme. Do you know why they are depending on chit funds rather than bank deposits? It is because a sum of money can be aimed through periodic subscriptions through a collection agent.

For more details visit: Chit Fund Software Live Demo or contact us at toll free: 1800-200-1766 / 7397723052.