Loan management software for microfinance and SME lenders in Sri Lanka
Sri Lankan micro and small-enterprise lending runs on close borrower relationships, field visits and weekly or monthly repayments — a workflow that will look immediately familiar to anyone who has run a South Indian book. Vasool gives you that workflow in LKR, on Asia/Colombo business dates, with a Tamil or English interface. What it deliberately does not do is carry Indian conventions, documents or disclosures across the strait.
Familiar in the field, correct on the record
The operational similarity is real and useful. The regulatory similarity does not exist — so the records have to be Sri Lankan from the first entry.
Speak the routine, approve the consequential
Officers dictate collections in Sinhala, Tamil and English and Vasool writes a structured record — borrower, amount, channel — not an audio clip. The records that carry real consequence go the other way: gate them per role and they wait in the approvals inbox until an owner or manager decides, with both outcomes on the audit trail.
Money out, spoken the same way
Expenses are dictated like collections — "Bus fare 300" — and land in the income and expense ledger with a receipt photo attached. Both sides of the round are captured where they happen, so the day book closes against real cash rather than a number reconstructed from memory.
Tamil or English, on the same book
Collectors in the Northern and Eastern provinces can work in Tamil while head office reads English. The interface language never changes what an amount means.
Offline field collection
Entries save on the device and sync when the connection returns, so an estate road or a rural route never costs you a day's collection record.
Disbursement, repayments and remaining principal
Capture the original disbursement, each actual repayment with its collection method, and the principal still outstanding — the three numbers a borrower dispute always turns on.
Agent cash accountability and daily close
Expected collection, actual collection, expenses and remittance are tracked per collector to a daily close, so shortfalls surface the same evening.
Sri Lankan borrower documents
Store the identification and address evidence you actually use locally, alongside recorded borrower consent — not an Indian KYC form relabelled.
Audit trail and maker-checker approvals
Every edit, discount, write-off and closure is logged with who did it and when, and staff changes can be held for owner approval before they take effect.
The route is the unit of the day
Plan daily and weekly routes, assign them to officers, and track completion as it happens with live GPS and a location history behind it. Every collection and expense is tagged to the route it came from, which is what makes end-of-day cash settlement a reconciliation rather than an argument.
Reports that close the day and the month
A day book per route, officer performance with collection efficiency and expense breakdown, collection summaries, overdue and DPD ageing, cash flow by account and profit and loss — each exportable as PDF or CSV, and answerable by voice when you would rather ask than navigate.
From route sheet to reconciled book
Set up your company in LKR
Pick Sri Lanka at setup: rupee amounts, Asia/Colombo business dates and local phone formats, on your own isolated database.
Choose the working language
Run the field app in Tamil or English per user, while the book itself stays single and consistent.
Collect with proof
The collector records amount, collection method and photo proof on the spot, and the borrower gets a receipt.
Close the day and reconcile
Match declared cash and transfers against expected collection per collector, then post the day and read arrears off the same book.
A familiar workflow, a different licensing perimeter
Sri Lankan micro and small-enterprise lending can look very like South Indian operations — the same close relationships, the same field visits, the same weekly and monthly rhythms. The currency is the Sri Lankan rupee and the business day runs on Sri Lanka time, which happens to share UTC+05:30 with India. That coincidence is worth naming precisely because it is so easy to over-read.
The Central Bank of Sri Lanka explains that the Microfinance Act No. 6 of 2016 created licensing and supervision for companies carrying on microfinance business, with prudential, reporting, governance and consumer-protection requirements. Licensed finance companies and other institution types sit in their own regulatory categories. A familiar field workflow gives you no standing under any of them.
Vasool is collections and portfolio software. It is not a licence, a registration, or regulatory approval, and no feature in it makes an unlawful loan lawful. Confirm your legal entity, lending permission and permitted product scope with a qualified local lawyer before your first disbursement.
What not to carry across from India
The most common mistake we see is reuse: an interest convention, a loan document, a disclosure format or a KYC field set that was designed for an Indian entity, dropped into a Sri Lankan operation because the screens look the same. Do not do it. Your pricing expression, your borrower documents and the information you must give a borrower come from Sri Lankan law and your own agreement.
What does travel is the operating discipline: separate the principal from interest, fees, penalties, expenses, discounts and misses; treat the collector's cash total as a cash total rather than profit; and never assume an overdue borrower is a write-off. That discipline is country-neutral, and it is most of what Vasool enforces.
In Vasool a line is an operational portfolio — a way to group borrowers by route, market, agent or repayment day so field work can be scheduled and a day's cash reconciled. Underneath it, every loan keeps its own borrower-level history.
Voice entry and approvals in Sri Lanka
A collector standing in front of a borrower is holding a cash bag and a phone, and the queue behind is not waiting. That is where entries get skipped and written up from memory at night — and a book reconstructed at night is a book nobody can defend. In Sri Lanka the officer speaks the entry instead — Sinhala, Tamil and English — and Vasool matches the borrower, parses the amount and the channel, and shows the match for confirmation before anything is saved.
Speed is right for a repayment and wrong for a decision. A collection is high-volume and low-consequence, so it posts as soon as the officer confirms it — the confirmation screen is the control. The records that change what a borrower owes are low-volume and high-consequence, so they can be gated instead: switch maker-checker on for the ones that matter here — a rescheduled loan or a rewritten interest term agreed at the doorstep, where nobody else was standing — and the change is held as a request rather than applied, routed to an owner or an assigned approver, and written to the audit trail whether it is approved or rejected.
The gate is set per role and per resource, so you are not choosing between slowing every officer down and controlling nothing. It covers customers, loans, chit and savings schemes, gold sales, expenses, staff, roles and routes today; holding an individual collection entry for approval is on the roadmap, not shipping. The voice approval workflow page walks through what is held, who it routes to, and what the trail records for each outcome.
A full day on the route, not just the collections
Software that records only repayments measures half a round. An officer working a route in Sri Lanka collects money and also spends it, and "Bus fare 300" is exactly the kind of entry that never reaches the book when it is scribbled on a slip and typed up that evening — which is when the cash bag stops matching. Vasool takes both by voice: the collection at the doorstep, the expense at the moment it is incurred, each with a photo where the evidence matters.
Everything attaches to the route. Routes are planned and assigned ahead of the day, officers navigate them with GPS, completion is tracked as it happens, and a location history shows where staff actually went. Because each collection and expense carries its route, the day book is per route and end-of-day settlement compares one officer's cash against one officer's recorded movements — not against a pooled total nobody can decompose.
What comes out of that is reporting you can act on: officer performance with collection efficiency, attendance and expense breakdown; overdue and DPD ageing; cash flow by account; and profit and loss for the period, exportable as PDF or CSV. The voice approval workflow page shows how capture, control and reporting fit together across every market.
Before your first disbursement in Sri Lanka
Work through this with your own counsel. The workflow may be familiar; the obligations are not inherited.
- Confirm your legal form and permission — licensed microfinance company, licensed finance company or other permitted entity.
- Use Sri Lankan loan documents and disclosures, not adapted Indian ones.
- Confirm how your pricing must be expressed and disclosed under your agreement and local rules.
- Capture the original disbursement, every actual repayment, the collection method and the remaining principal.
- Record borrower consent for the data you hold and how you will contact them.
- Assess repayment capacity from the borrower's real cash cycle before setting the schedule.
- Document your recovery conduct rules and keep missed-payment reasons on the record.