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Moksh Yug Access: Combining Microfinance, Supply Chain Management, and Technology to Empower the Masses
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Moskh Yug Access, a company that dreams to ‘establish poverty-free villages by leveraging on the financial resources and innovation of the private sector, the knowledge and commitment of the NGOs and the vast outreach of the public sector’ has a 3 fold objective.
1) To provide income generating services such as microfinance, retail, healthcare, agribusiness, dairy farming and livelihood services to low-income households in rural India.
2) To develop a core competence in Supply Chain Management by building a consistent degree of profitability, efficient operating systems, and partnership model with various product/service providers;
3) To capitalize on the unique insight gained from the complexities of SCM to franchise the business in rural regions across the poorest districts of India.
The company seeks to achieve the following objectives by establishing franchising agreement with microfinance clients to ensure capital availability for the Rural Poor. It also seeks to establish purchase agreements with suppliers and buy back agreements with buyers, in addition to managing the warehousing and supply chain for commodities to be bought and sold.
The focus is on job creation and asset creation for the rural poor. An attempt to break the poverty trap that rural citizens in our country are perpetually stuck in.
MYA seeks to manage all these complicated tasks by leveraging Information Technology sourced from various partners.
It has partnered with Tally Solutions Private Limited to develop a customised MIS solution for the microfinance business. It helps them track the savings, loan portfolio and insurance products. At the operational level it helps the company track financials up to the field level, i.e. customers.
The company has also tied up with SalesForce.com for an MIS.
The company currently operates in Karnataka Bagalkot & Badami taluks and is looking to capitalize on it’s insights to spread its wings.
Harsha Moily the Founder and CEO has returned to India after 4 years in the US to start this company. What’s interesting to note is that companies like this are functioning on a for profit model to encourage efficiency and leverage technology to solve market imperfections and fulfil needs.
It’s also heartening to see Indian Born Entrepreneurs looking to solve larger problems. We recently featured Kal Raman’s GlobalScholar.com. A company in a similar vein with an equally stellar vision and process management system.
You can read LiveMint’s interview with Harsha Moily here.
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Its moksh’A’ Yug Access.. morAns.
sorry about that
- but i think the core matters more. Technologically driven solutions to counter the poverty trap are a must. Jeffery Sachs’ Book ‘The End of Poverty’ has some great explanations of the poverty trap - it also gives a through plan for the eradication of such downward spirals (all cost effective, mind you). For all you U2 fans - the book has a foreword by Bono.