Performance
Spandana Strongly believes that the clients are at the center of our service provision.
If we ensure their financial goals through our products and service delivery, our
organizational goals will get achieved as an incidental outcome. For Spandana, social
performance is therefore integral to financial performance. Some of the ways in
which Social performance is manifested are –
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 Impact
of Microfinance
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Spandana has commissioned impact assessment of its micro-finance program. The assessment
is been carried out by centre for Micro-Finance at IFMR in collaboration with Abdul
Latif Jameel Poverty Action Lab(J-PAL) and researchers from Massachusetts Institute
of Technology (MIT), US.
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Depth of outreach: Spandana’s Mission highlights the organisation’s focus to deliver
quality services to the low income households. Most of the clients of Spandana come
from low-income community – predominantly women.
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Breadth of outreach: Spandana reaches
out to low-income clients both in rural, urban and semi-urban areas – therefore
ensuring that by design, urban poor do not get excluded. The outreach has been growing
at a CAGR of 100% for the last 10 years as on 31 March 2010, Spandana services over
4 million clients.
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Length of outreach:
Pricing of Loans at Spandana is one of the lowest in the MFI sector. We are able
to do so, having very thin operating costs. Therefore we pass on large part of our
operational efficiencies to our clients. Spandana’s focus on prudent financial management
helps in achieving profitability – essential to help us sustain and grow the microfinance
business.
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Scope of outreach:
To ensure that the client level benefits are realized, we engage with our clients
to continuously evolve our product portfolio to suit their needs. Instead of offering
similar products to already reached clients, Spandana endeavors to expand the micro
financing pie. We not only help in improving the income levels of our clients but
also help in reducing their expense levels by partnering with other service providers
for non-financial services.
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Direct Impact: Spandana
is also an employer of a large number of youth from the low-income households and
strives to build their skills to help them grow in their work-lives. In the event
of any natural calamity, Spandana uses its resources to provide relief and rehabilitation
to both clients and non-clients.
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Consumer protection:
Spandana believes in transparency as one of its core values. All financial costs
are disclosed to the clients.
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Client Feedback: Spandana
employs multiple methods of gathering client feedback on its services to ensure
that the mission is achieved. This feedback helps us in improving our social performance.
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Awards and recognition:
Every client household that improves its economic condition, every smile that an
improved meal brings on the face of Spandana’s client, every opportunity to avail
health service that was beyond their reach and every new educated child are our
awards and recognition is the support and faith of our clients and employees.
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