About PMT
Performance Monitoring Tool (PMT) 2017. This release is based on the original PMT, which was introduced to the microfinance community in 2004, enhanced in 2007 , 2009 and has now been reviewed based on feedback received from several years of experience with previous PMT versions.
The purpose of the PMT is to enable MDIs, MFIs, SACCOs and financial institutions involved in microfinance to self monitor, report and receive feedback on their progress against relevant performance standards and peer groups in a coherent and transparent way.
This will contribute to improved risk management and promote adherence to minimum requirements and good practices within the entire industry, thus improving financial services available to existing as well as prospective clients.
While saving valuable time spent on reporting for the various financial institutions, this will also ensure the availability of more comprehensive and accurate information on the sector, and serve as a cornerstone for regulation and policy-making for Uganda's financial system as a whole.
The process of developing the original joint reporting format which became the PMT was consultative and participatory, engaging the maximum number of stakeholders during the various stages. As a key player throughout the process, the Association of Microfinance Institutions of Uganda (AMFIU) took the lead in popularizing the concept within the Ugandan microfinance industry, while development partners assisted in the development and dissemination of concept papers, establishing broad-based support from other agencies and soliciting input from international resources.
With a majority of development partners pledging full support to the adoption of the tool in 2002, and the Ministry of Finance, Planning and Economic Development and Bank of Uganda backing it up, the original PMT was conceived, developed, tested, adjusted and rolled out for distribution to MFIs in 2004. Based on feedback from various financial institutions using it, a decision was made to upgrade the software, with the primary goals to further simplify reporting to development partners and other interested parties, to be more institutionally focused and useful to financial institution management and finally to include varied input and reporting formats to accommodate the newly licensed MDIs and the large number of SACCOs. The result was the PMT 2007 which was subsequently rolled out to many institutions country-wide.
This latest release of the PMT is now accessible over the World Wide Web (through visiting http://pmt.trailanalytics.com from your web browser) and addresses usability issues voiced by some of the users but, most importantly, it now uses a standardized digital reporting format which enables the tool to directly submit reports to a central microfinance database, the Performance Monitoring System (PMS) hosted at AMFIU. Moreover, existing Management Information Systems can now produce reports in the very same digital format, so re-entering data will become redundant.
While a central database provides valuable industry aggregates to be used by regulatory bodies and national as well as international organizations, the main focus is to provide financial institution management with informative and meaningful individual performance reports as well as peer group benchmarking to facilitate management, to increase financial control and promote adherence to sound practices.
As with the previous tools, the PMT 2009 is accessible free of charge to any institution, over the World Wide Web.
Contact:
AMFIU, AMFIU House
Plot 679, Wamala Road, Najjanankumbi, Kampala
Tel: 0414-259176
E-mail: [email protected]