Savings & Credit Co-operative Organisation (SACCO) is an enterprise belonging to and controlled by the voluntary members who invest their shares in it. Gains are distributed among members in proportion to their shares. Globally, co-operatives (or Credit Unions) are under increasing pressure to meet emerging member expectations and achieve greater self-sustainability. In response, they are left with little choice but to diversify their services and increase efficiency.
SACCOs have also to innovate new products, meet credit demands, and track credit risk resulting from dynamic market and complex relationships between organisations and members. Despite operational delays, these co-operatives must manage various types of information needs – statutory, member-related, shareholder-based, managerial, donor-related and operational. For information to be helpful in managing business effectively, it must be processed accurately.