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Financial Software Consulting Services

Bring corporate financial management to new heights

Since 2007, ScienceSoft provides companies in 30+ industries with consulting and practical assistance on the design and implementation of reliable financial management software.

Digital Financial Management Consulting – ScienceSoft
Digital Financial Management Consulting – ScienceSoft

Financial software consulting services aim to help companies drive improvements across corporate financial management processes and target ambitious business innovations with the help of robust finance software and advanced technologies, such as cloud, AI and ML, big data, blockchain.

ScienceSoft’s Service Scope

Our financial software consulting services are customized to our clients’ needs and may cover:

Financial software audit and consulting on improvements

Auditing a client's existing financial management tools and their integration points, evaluating technical and economic pains of existing financial software, planning financial IT ecosystem improvements with software-only changes. ScienceSoft's services aim to ensure:

  • Increased efficiency of the financial software landscape.
  • Optimized costs of currently used financial solutions.
  • Improved security of sensitive financial and business data financial systems store, and more.

Advanced financial technology consulting

Consulting on the use of cloud, AI and ML, big data, blockchain for:

  • Ensuring high availability, scalability and security of a financial solution.
  • Automated aggregation and comprehensive analysis of multi-dimensional finance data to predict particular aspects of the company’s financial performance.
  • Getting intelligent recommendations on optimal decisions across financial processes.
  • Facilitated traceability of financial transactions, and more.

Financial software development consulting

  • Designing a financial management solution based on the customer's unique business needs.
  • Choosing an optimal tech stack for solution development.
  • Introducing an integration plan with relevant corporate software and third-party systems (e.g., financial data marketplaces, trading platforms).

Financial software modernization consulting

  • Planning the gradual transition of a customer's financial software to modern techs without disrupting critical financial management operations.
  • Expanding the software functionality and revamping legacy architecture and codebase to increase the solution's value.

Financial software implementation

ScienceSoft offers the following options:

  • Financial software implementation in collaboration with a client's in-house IT team.
  • Covering up to 100% of financial software implementation tasks and knowledge transfer to a client's in-house IT team.

Financial software maintenance

ScienceSoft provides practical assistance in:

  • SLA-based financial software maintenance and support.
  • Security assessment and compliance pre-audit for financial solutions.
  • Financial IT automation.

ScienceSoft's Selected Financial Software Projects

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Key Steps of Digital Finance Consulting by ScienceSoft

ScienceSoft helps companies bridge the gap between a high-level digital transformation strategy and its actual fulfillment. Our typical digital financial management consulting process flow looks as follows:

  • Analyzing financial management needs and eliciting requirements for a corporate finance solution.
  • Auditing the existing financial software landscape, analyzing its weaknesses and opportunities.
  • Preparing a business case for financial software development / modernization.
  • Elaborating a technical requirements specification for the financial management solution.
  • Introducing a project plan for finance digitization.

Additionally, we are ready to cover end-to-end financial software development, evolution of legacy corporate financial tools, and after-launch support of the delivered solution.

Key Steps of Digital Financial Management Consulting - ScienceSoft

Financial Management Solutions ScienceSoft Specializes In

We are here to provide expert consulting for the successful implementation of one or several integrated corporate finance solutions:

  • Improving financial data accuracy.
  • Eliminating manual efforts across tasks involved in bookkeeping, invoicing, payroll accounting, financial planning and analysis, revenue management, tax management, investment and financial risk management, and more.
  • Eliminating accountants’ manual tasks
  • Increasing accuracy across multi-entity bookkeeping, invoicing, AP and AR, expense management, multi-location inventory accounting, financial data reconciliation, country-specific financial reporting, and more.
  • Streamlining accounting processes in large organizations with complex operations and accounting needs.
  • General ledger capabilities, the management of payables, receivables, taxes and payroll, asset and inventory accounting, automated invoicing and reconciliation, and more.
  • Aggregating financial transactions across multiple business entities in real time, structuring and reconciling them.
  • Accurate recording and reporting of multi-entity financial transactions and faster financial close.
  • Automated customer invoicing and real-time receivables tracking.
  • Management of collection procedures to cut DSO and past-due receivables and eliminate manual errors across the order-to-cash cycle.
  • Automated invoicing workflow, payment tracking and processing.
  • Streamlined general-purpose and industry-specific (e.g., medical, telecom, transportation) billing.
  • Increased invoicing speed and accuracy and reducing revenue leakage.
  • Automated e-invoice generation, processing, exchange, and tracking.
  • Compliance with global, region- and industry-specific regulations, such as ZATCA regulations for Saudi Arabia, Directive 2014/55/EU for the EU, and more.
  • End-to-end invoice processing – from invoice data capture and validation to invoice routing for payment and posting to the general ledger.
  • Reduced cost of invoice processing and storage and shorter invoice-to-pay cycle.
  • Real-time revenue tracking, advanced revenue analysis, automated revenue recognition according to the up-to-date accounting standards.
  • Ensuring faster revenue close, simplified revenue recognition compliance, precise revenue forecasting.
  • Automated price calculation and updating across selling channels.
  • Ensuring price performance visibility, streamlining price segmentation and discount management.
  • Analytics-based price optimization for maximized profitability.
  • Forecasting, tracking, and reporting corporate cash flows (including in various currencies).
  • Streamlining cash management across multiple, including international, company branches and across complex bank account structures.
  • Providing automation across corporate treasury activities, including cash, investment, debt, trade finance, and financial risk management.
  • Streamlining management and enhancing visibility of investment and financing activities.
  • Reducing idle cash, liquidity and credit risks.
  • Streamlining financial planning and analysis, improving decision-making on strategic activities.
  • Creating and managing financial models (including multi-dimensional models).
  • Automated calculations for various financial models.
  • Simulating, analyzing and forecasting financial scenarios of any complexity.
  • Automated cost estimation, budgeting, cost allocation, real-time cost tracking, and variance analysis at the company, department, and project level.
  • Streamlining cost control and decreasing budget variance.

Plan Your Financial Solution with Professionals

ScienceSoft is ready to provide all-encompassing financial software consulting to ensure you will get high ROI and expected benefits from your corporate finance solution.

Why Choose Digital Finance Consulting with ScienceSoft

  • Since 2007 in financial IT and corporate finance software development.
  • IT consultants and project managers having experience with 30+ industries, including manufacturing, retail, healthcare, BFSI, telecoms.
  • Since 1989 in data science and AI to introduce advanced financial analytics.
  • Since 2003 in cybersecurity to ensure world-class security of financial software.
  • Compliance experts with 5–20 years of experience to ensure financial management software compliance with global, industry- and region-specific regulations.
  • Quality-first approach based on a mature ISO 9001-certified quality management system.
  • Robust security management supported by ISO 27001 certification.

The Financial Times Includes ScienceSoft USA Corporation in the List of the Americas’ Fastest-Growing Companies 2023

For the second year in a row, ScienceSoft USA Corporation ranks among 500 American companies with the highest revenue growth. This achievement is the result of our unfailing commitment to provide high-quality IT services and create best-value solutions that meet and even exceed our clients’ expectations.

Reliable Technologies & Tools We Use

Benefits of Financial Software Consulting by ScienceSoft

We carefully analyze the economic feasibility of custom financial software development and advanced financial technology implementation for your case. Our experts provide a detailed cost estimate to help you confidently decide on further engagement and accurately plan expenses. Also, we can develop a proof of concept to check the viability of an innovative financial management solution.

Optimized cost

We introduce the optimal functionality for your finance solution to avoid packing it with unnecessary features and suggest the proven tools and ready-made components that help streamline and speed up development. Our project managers accurately scope the project and advise on a pragmatic team composition. These measures help our clients unlock up to 3–12x development cost savings.

We render financial software consulting services in close collaboration with your stakeholders, sticking to their preferred communication forms, paces, and channels. This way, we get an in-depth understanding of your corporate finance transformation needs and achieve full alignment of the software design and implementation strategy with your specific requirements.

Service transparency

When engaged at the development stage, we define a tailored set of KPIs to measure the quality of services and financial software we deliver and report regularly on the accomplished tasks to ensure the client always stays updated on the project progress. Our experts provide exhaustive software documentation to facilitate solution maintenance and upgrading.

Guaranteed security

We design software powered with multi-layer data encryption, role-based access control, intelligent fraud detection, and other robust security mechanisms to ensure full safety of financial data and effective response to all types of cyber threats.

We help adhere your financial solution to GAAP (specifically ASC 606 and IFRS 15), SOC1 and SOC2, SOX, PCI DSS, GDPR (for the EU), ZATCA regulations (for the KSA), and other necessary global, region- and industry-specific standards.

Choose Your Service Option

Consulting on the corporate finance digital transformation

We create a roadmap to financial management digitalization, modernization of your existing digital finance environment, or adoption of new financial solutions and advanced techs.

What we do:

  • Analyse your financial management needs and elicit requirements for the financial management solution.
  • Suggest the optimal features, architecture, and tech stack for the financial software.
  • Prepare a plan of integrations (with ERP, CRM, an inventory management system, a BI solution, etc.).
  • Introduce a detailed project plan, including cost and time estimates, ROI calculations, and a risk mitigation plan.
Go for consulting

Full-cycle corporate financial software development

We design and develop custom financial management software tailored to your business needs or customize and implement a selected platform-based financial solution.

What we do:

  • Conceptualize a financial management solution.
  • Design the architecture.
  • Develop financial management software.
  • Integrate the solution with the required systems.
  • Run all necessary quality assurance procedures.
  • Help your employees adopt the solution.
  • Continuously support and evolve financial management software (if required).
Go for development