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:

Financial process automation software

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.

Automated accounting software

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.

Enterprise accounting software

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.

General ledger software

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.

Accounts receivable automation software

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 billing system

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.

E-invoicing software

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.

Invoice processing automation software

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.

Revenue management software

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.

Pricing software

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.

Cash management system

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.

Treasury software

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.

Financial modeling software

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.

Cost control software

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.

REQUEST A CONSULTATION

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

Wadih Pazos

Chief Operating Officer

Paramount WorkPlace

Owing to ScienceSoft’s experience in distributed modular systems, we cooperated with them on the evolution of our Azure-based product for accounts payable management. ScienceSoft was to cover end-to-end development of an intelligent paperless invoice processing module for the product. The new software module performs stably even under heavy load, which helps provide a high-quality user experience for our customers. ScienceSoft proved to be a reliable tech partner.

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Heather Owen Nigl

Chief Financial Officer

Alta Resources

The invoicing system created by ScienceSoft automates data integration from different sources, invoice generation, and provides visibility into the invoicing process. We have already engaged ScienceSoft in supporting the solution and would definitely consider ScienceSoft as an IT vendor in the future.

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Selected Projects

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.

Project details

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.

Project details

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.

PROJECT DETAILS

Technologies & Tools We Use

Back-end programming languages

Front-end programming languages

Languages

JavaScript frameworks

Mobile

Desktop

Databases / data storages

SQL

NoSQL

Cloud databases, warehouses and storage

AWS

Azure

Google Cloud Platform

Big data

Platforms

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: