Digital Financial Management Consulting Services

Revamp financial management

Since 2007, ScienceSoft provides companies in 30+ industries with advisory and practical assistance on the design and implementation of reliable financial management software to improve their corporate finance processes.

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

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

ScienceSoft’s Service Scope

Our digital financial management consulting services are customized to clients’ business needs and may cover:

Financial management system landscape analysis

Auditing a client's existing financial management tools and their integration points, evaluating technical and economic pains of existing financial software, planning financial software 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 technologies 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 enterprise software and third-party systems (e.g., financial data marketplaces, trading platforms).

Financial software modernization consulting

  • Planning gradual transition of a customer's financial software to modern techs without disrupting critical financial management operations.
  • Increasing the value of financial software investment through legacy transformation.

Financial software implementation

ScienceSoft provides the following implementation options:

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

Key Steps of Digital Financial Management Consulting by ScienceSoft

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

  • Analyzing financial management needs and eliciting requirements to 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 corporate finance digitization / evolution of legacy financial tools.

Additionally, we are ready to cover end-to-end financial software development / modernization, including its integration with relevant business-critical systems, and provide continuous maintenance and support of the delivered solution.

Key Steps of Digital Financial Management Consulting - ScienceSoft

Financial Management Solutions ScienceSoft Specializes In

We provide consulting for the successful implementation of one or several integrated financial management 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 Corporate Finance Solution Risk-Free

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

Why Choose Digital Financial Management Consulting with ScienceSoft

  • Since 2007 in corporate finance software development.
  • IT consultants and project managers having experience with 30+ industries, including manufacturing, retail, healthcare, telecoms, financial services.
  • Since 1989 in data science to introduce AI and ML-powered financial analytics.
  • Since 2003 in cybersecurity to ensure world-class security of financial software and sensitive financial data it stores.
  • In-house compliance experts with 5–20 years of experience to ensure financial management software compliance with industry- and region-specific regulations.
  • High quality of digital financial management consulting services and customers' data security proven by ISO 9001 and ISO 27001 certificates.
  • For the second straight year, ScienceSoft USA Corporation is listed among The Americas’ Fastest-Growing Companies by the Financial Times.

Our Customers Say

Selected Projects

StreamServe Invoice Management Software for a Large Mobile Operator

Development of StreamServe Invoice Management Software for a Large Mobile Operator

  • Bringing together the functions of 21 existing invoice-related tools in one solution, optimizing the number of scripts and the quality of code.
  • Designing and developing a new invoicing solution that enables automated generation of customer invoices, designing custom invoice templates, invoice e-signing, and more.

Customer’s benefit: 24x faster invoice processing, more than 3x faster monthly billing campaigns, 100x lower invoicing software maintenance costs.

Accounting Software Migration to the Cloud

Accounting Software Migration to the Cloud

  • Re-designing the architecture of a legacy accounting software product into a modular web-based multi-tier architecture.
  • Developing additional features, such as template-based document generation, e-payments, automated tax calculation.
  • Re-designing the billing module to enable making payments via the customer portal.

Customer’s benefit: Reduced cost of data storage, facilitated maintenance of the accounting system.

Custom Billing Software for a Leading European Marketplace

Consulting and Development of Custom Billing Software for a Leading European Marketplace

  • Analyzing the Customer’s existing billing tool, identifying its pain points.
  • Eliciting requirements for a new billing solution.
  • Designing and implementing functionality for invoicing, payment processing, debt collection, financial reporting, and more.
  • Billing software integration with the Customer’s online marketplace.

Customer’s benefit: faster processing of international payments, streamlines debt collection.

Technologies & Tools We Use

Back-end programming languages

Microsoft .NET

Practice

19 years

Projects

200+

Workforce

60+

Our .NET developers can build sustainable and high-performing apps up to 2x faster due to outstanding .NET proficiency and high productivity.

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Java

Practice

25 years

Projects

110+

Workforce

40+

ScienceSoft's Java developers build secure, resilient and efficient cloud-native and cloud-only software of any complexity and successfully modernize legacy software solutions.

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Python

Practice

10 years

Projects

50+

Workforce

30

ScienceSoft's Python developers and data scientists excel at building general-purpose Python apps, big data and IoT platforms, AI and ML-based apps, and BI solutions.

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Node.js

Practice

10 years

Workforce

100

ScienceSoft delivers cloud-native, real-time web and mobile apps, web servers, and custom APIs ~1.5–2x faster than other software developers.

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PHP

Practice

16 years

Projects

170

Workforce

55

ScienceSoft's PHP developers helped to build Viber. Their recent projects: an IoT fleet management solution used by 2,000+ corporate clients and an award-winning remote patient monitoring solution.

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Golang

Practice

4 years

ScienceSoft's developers use Go to build robust cloud-native, microservices-based applications that leverage advanced techs — IoT, big data, AI, ML, blockchain.

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Front-end programming languages

Languages

JavaScript

Practice

21 years

Projects

2,200+

Workforce

50+

ScienceSoft uses JavaScript’s versatile ecosystem of frameworks to create dynamic and interactive user experience in web and mobile apps.

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JavaScript frameworks

Angular JS

Practice

13 years

Workforce

100+

ScienceSoft leverages code reusability Angular is notable for to create large-scale apps. We chose Angular for a banking app with 3M+ users.

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React JS

Workforce

80+

ScienceSoft achieves 20–50% faster React development and 50–90% fewer front-end performance issues due to smart implementation of reusable components and strict adherence to coding best practices.

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MeteorJS

ScienceSoft uses Meteor for rapid full-stack development of web, mobile and desktop apps.

Vue.js

By using a lightweight Vue framework, ScienceSoft creates high-performant apps with real-time rendering.

Next.js

With Next.js, ScienceSoft creates SEO-friendly apps and achieves the fastest performance for apps with decoupled architecture.

Ember.js

When working with Ember.js, ScienceSoft creates reusable components to speed up development and avoid code redundancy.

Mobile

iOS

Practice

16 years

Projects

150+

Workforce

50+

ScienceSoft’s achieves 20–50% cost reduction for iOS projects due to excellent self-management and Agile skills of the team. The quality is never compromised — our iOS apps are highly rated.

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Android

Practice

14 years

Projects

200+

Workforce

50+

There are award-winning Android apps in ScienceSoft’s portfolio. Among the most prominent projects is the 5-year-long development of Viber, a messaging and VoIP app for 1.8B users.

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Xamarin

Practice

11 years

Projects

85+

Workforce

10+

ScienceSoft cuts the cost of mobile projects twice by building functional and user-friendly cross-platform apps with Xamarin.

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Apache Cordova

ScienceSoft uses Cordova to create cross-platform apps and avoid high project costs that may come with native mobile development.

Progressive Web Apps

ScienceSoft takes the best from native mobile and web apps and creates the ultimate user experience in PWA.

React Native

Practice

8 years

Projects

300+

ScienceSoft reduces up to 50% of project costs and time by creating cross-platform apps that run smoothly on web, Android and iOS.

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Flutter

ScienceSoft will save you from double or even triple expenses associated with platform-specific coding by creating cross-platform apps in Flutter.

Ionic

With Ionic, ScienceSoft creates a single app codebase for web and mobile platforms and thus expands the audience of created apps to billions of users at the best cost.

Desktop

C++

Practice

34 years

Workforce

40

ScienceSoft's C++ developers created the desktop version of Viber and an award-winning imaging application for a global leader in image processing.

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Qt

Practice

4 years

Workforce

40

We used Qt to deliver a cross-platform desktop app for a global leader in image processing, a desktop version of Viber, VoIP messenger with over 1 billion users, and an anti-procrastination app acknowledged by The Daily Telegraph and BBC.

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C#

Practice

19 years

Projects

200+

Workforce

60

Our C# developers created the world’s largest PLM software. Their recent projects: development of SaaS for vCIO services management and underwriting software for a global aviation insurer.

WPF

Practice

15 years

Workforce

~40

We have delivered WPF-based solutions for a leading market research company and a global leader in image processing.

Objective-C

We use Objective-C to implement native macOS features in desktop apps.

Python

Practice

10 years

Workforce

30

We use Python for rapid development of cross-platform desktop apps.

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Databases / data storages

SQL

Microsoft SQL Server

Our Microsoft SQL Server-based projects include a BI solution for 200 healthcare centers, the world’s largest PLM software, and an automated underwriting system for the global commercial insurance carrier.

MySQL

We’ve implemented MySQL for Viber, an instant messenger with 1B+ users, and an award-winning remote patient monitoring software.

Azure SQL Database

Azure SQL Database is great for handling large volumes of data and varying database traffic: it easily scales up and down without any downtime or disruption to the applications. It also offers automatic backups and point-in-time recoveries to protect databases from accidental corruption or deletion.

Oracle

ScienceSoft's team has implemented Oracle for software products used by GSK and AstraZeneca. We’ve also delivered Oracle-based SCM platform for Auchan, a retail chain with 1,700 stores.

PostgreSQL

ScienceSoft has used PostgreSQL in an IoT fleet management solution that supports 2,000+ customers with 26,500+ IoT devices. We’ve also helped a fintech startup promptly launch a top-flight BNPL product based on PostgreSQL.

NoSQL

Apache Cassandra

Our Apache Cassandra consultants helped a leading Internet of Vehicles company enhance their big data solution that analyzes IoT data from 600,000 vehicles.

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Apache Hive

ScienceSoft has helped one of the top market research companies migrate its big data solution for advertising channel analysis to Apache Hive. Together with other improvements, this led to 100x faster data processing.

Apache HBase

We use HBase if your database should scale to billions of rows and millions of columns while maintaining constant write and read performance.

Apache NiFi

With ScienceSoft’s managed IT support for Apache NiFi, an American biotechnology corporation got 10x faster big data processing, and its software stability increased from 50% to 99%.

MongoDB

ScienceSoft used MongoDB-based warehouse for an IoT solution that processed 30K+ events/per second from 1M devices. We’ve also delivered MongoDB-based operations management software for a pharma manufacturer.

Cloud databases, warehouses and storage

AWS

Amazon Redshift

We use Amazon Redshift to build cost-effective data warehouses that easily handle complex queries and large amounts of data.

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Amazon DynamoDB

We use Amazon DynamoDB as a NoSQL database service for solutions that require low latency, high scalability and always available data.

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Azure

Azure Cosmos DB

We leverage Azure Cosmos DB to implement a multi-model, globally distributed, elastic NoSQL database on the cloud. Our team used Cosmos DB in a connected car solution for one of the world’s technology leaders.

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Azure SQL Database

Azure SQL Database is great for handling large volumes of data and varying database traffic: it easily scales up and down without any downtime or disruption to the applications. It also offers automatic backups and point-in-time recoveries to protect databases from accidental corruption or deletion.

Google Cloud Platform

Google Cloud Datastore

We use Google Cloud Datastore to set up a highly scalable and cost-effective solution for storing and managing NoSQL data structures. This database can be easily integrated with other Google Cloud services (BigQuery, Kubernetes, and many more).

Big data

Apache Hadoop

By request of a leading market research company, we have built a Hadoop-based big data solution for monitoring and analyzing advertising channels in 10+ countries.

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Apache Spark

A large US-based jewelry manufacturer and retailer relies on ETL pipelines built by ScienceSoft’s Spark developers.

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Apache Cassandra

Our Apache Cassandra consultants helped a leading Internet of Vehicles company enhance their big data solution that analyzes IoT data from 600,000 vehicles.

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Apache Kafka

We use Kafka for handling big data streams. In our IoT pet tracking solution, Kafka processes 30,000+ events per second from 1 million devices.

Apache Hive

ScienceSoft has helped one of the top market research companies migrate its big data solution for advertising channel analysis to Apache Hive. Together with other improvements, this led to 100x faster data processing.

Apache ZooKeeper

We leverage Apache ZooKeeper to coordinate services in large-scale distributed systems and avoid server crashes, performance and partitioning issues.

Apache HBase

We use HBase if your database should scale to billions of rows and millions of columns while maintaining constant write and read performance.

Azure Cosmos DB

We leverage Azure Cosmos DB to implement a multi-model, globally distributed, elastic NoSQL database on the cloud. Our team used Cosmos DB in a connected car solution for one of the world’s technology leaders.

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Amazon Redshift

We use Amazon Redshift to build cost-effective data warehouses that easily handle complex queries and large amounts of data.

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Amazon DynamoDB

We use Amazon DynamoDB as a NoSQL database service for solutions that require low latency, high scalability and always available data.

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MongoDB

ScienceSoft used MongoDB-based warehouse for an IoT solution that processed 30K+ events/per second from 1M devices. We’ve also delivered MongoDB-based operations management software for a pharma manufacturer.

Google Cloud Datastore

We use Google Cloud Datastore to set up a highly scalable and cost-effective solution for storing and managing NoSQL data structures. This database can be easily integrated with other Google Cloud services (BigQuery, Kubernetes, and many more).

Platforms

Microsoft Dynamics 365

Practice

14 years

Projects

25+

Workforce

10+

A certified Microsoft partner, ScienceSoft creates CRM and ERP solutions powered by Dynamics 365 and optimizes most effectively a range of business operations.

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Salesforce

Projects

10+

ScienceSoft achieves at least 20% increase in sales and 30% improvement in case resolution with well-thought-out and business-tailored Salesforce solutions.

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Adobe Commerce

Practice

11 years

Projects

20+

Workforce

10+

A certified Adobe Solution Partner, ScienceSoft builds on robust functionality of Adobe Commerce to create highly automated and scalable ecommerce solutions.

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SharePoint

Practice

15 years

Projects

100+

Workforce

20+

Solid expertise in SharePoint services has earned ScienceSoft a place in Clutch’s list of Top SharePoint Developers in 2023.

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ServiceNow

Practice

12 years

A certified ServiceNow partner, ScienceSoft offers a proprietary 4-level implementation model that helps deliver the best value from ServiceNow adoption.

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Power BI

Practice

7 years

ScienceSoft sets up Power BI to process data from any source and report on data findings in a user-friendly format.

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SAP SE

SAP products are powerful and intricate. ScienceSoft will help you understand and realize the full value they can offer to your business.

DevOps

Containerization

Automation

CI/CD tools

Monitoring

Benefits of Digital Financial Management Consulting by ScienceSoft

Risk-free cooperation

Details

We analyze economic feasibility of financial software implementation for each company-specific case. Also, we can develop a Proof of Concept to test the viability of a required financial management solution in real life.

Effective collaboration

Details

We render digital finance consulting services in close collaboration with project stakeholders to get an in-depth understanding of the client’s corporate finance needs and tailor the service accordingly. We define tailored sets of KPIs to track the quality of services we deliver and ensure service transparency by submitting regular reports.

Bringing business value with advanced techs

Details

Having proven expertise in cloud, AI and ML, big data, blockchain, we choose the best-fitting advanced technologies for each financial management solution to deliver additional value across finance workflows for our customers.

Pragmatic approach

Details

We analyze a client’s business needs to define an optimal feature set for the finance solution and avoid packing it with unnecessary functionality. We advise on proven frameworks, platforms, and ready-made components that help streamline financial software development and cut its cost.

Flexible cooperation options

Details

Depending on a client’s needs, we can fully take over financial software implementation and provide knowledge transfer to their in-house IT team, or co-implement the finance solution with the customer’s in-house developers (ScienceSoft’s team will cover up to 30% of the tasks).

Guaranteed compliance

Details

We devise a strategy to ensure a solution’s compliance with GAAP (specifically ASC 606 and IFRS 15), SOC1 and SOC2, SOX, PCI DSS, GDPR (for the EU), ZATCA regulations (for Saudi Arabia), other relevant global, country- and industry-specific standards and regulations.

Focus on security

Details

We design solutions powered with multi-layer data encryption, role-based access control, intelligent fraud detection algorithms, and other security capabilities to ensure the safety of financial and business data and minimize the risk of malicious user activities.

Choose Your Service Option

Digital financial management consulting

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

What we do:

  • Analyse your financial management needs and elicit requirements for the financial management solution.
  • Develop a Proof of Concept.
  • Advise on advanced technologies.
  • Suggest optimal features and architecture for a financial management solution, and a go-to tech stack for its implementation.
  • Prepare an integration plan with ERP, CRM, an inventory management system, a BI solution, etc.
  • Estimate cost & time, expected ROI.
Go for consulting

Financial software advisory and implementation

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

What we do:

  • Analyse your financial management needs.
  • Conceptualize a financial management solution.
  • Design architecture.
  • Develop and test the financial management software.
  • Integrate the solution with relevant corporate systems (ERP, CRM, an inventory management system, a BI solution, etc.).
  • Help your employees adopt the solution.
  • Continuously support and evolve the solution (if required).
Go for implementation