Financial software development services are used to launch different types of financial solutions that streamline financial management processes, increase financial data visibility, accuracy and security.

Corporate Financial Solutions ScienceSoft Delivers

Financial accounting and reporting

Automated aggregation and reconciliation of financial data.
Intelligent processing of paper and digital financial documents.
Automated calculation of revenue, expenses, payroll, employee expense reimbursement amount, asset depreciation amount, and more.
Rule-based financial transaction recording in the general ledger, A/R and A/P ledgers.
Template-based creation of financial reports.
Multi-entity, multi-currency, multi-book financial accounting.
Scalable cloud storage for financial documents.

Value: reduced manual tasks of accountants, improvement in bookkeeping and financial reporting accuracy, full visibility into enterprise-wide accounting transactions.

Compliance management

Revenue management

Real-time revenue calculation and tracking.
Rule-based contract revenue allocation.
Automated revenue recognition according to the up-to-date accounting standards.
AI-enabled revenue analysis and forecasting.

Tax management

Automated tax calculation based on predefined tax rates, including region-specific taxes.
Automated tax filing.
Scheduled tax payment.

Value: more accurate tax and revenue reporting, simplified compliance with global, country- and industry-specific regulations.

Financial planning and analysis

Automated financial data consolidation from relevant sources.
AI-powered financial data analysis and forecasting.
Analytics-based financial planning.
Scenario modeling and what-if analysis for financial and strategic transactions.
Template-based budget creation at the enterprise, department, multi-entity level.
Real-time financial performance monitoring and variance analysis.

Value: streamlined financial planning and analysis, more accurate financial forecasting, improved decision-making on financial and strategic activities.

Treasury management

Real-time monitoring of cash flow, liquidity, working capital, transactions on investment, financing, hedging activities.
Automated reconciliation of cash transactions and cash positioning.
Multi-entity payment management via in-house banking.
Debt and investment management.
Financial risk management.
AI-powered financial analysis to forecast cash flow, liquidity, gains and losses on investing and financing activities.

Value: enhanced visibility across financial transactions, improved liquidity planning and control, minimized idle cash, reduced liquidity and credit risks.

Billing and invoicing

Automated calculation of due amounts.
Automated invoice generation and submission to customers.
Multi-department invoice approval.
Real-time tracking of invoice status (sent, received, paid, open, etc.).
Automated payment processing.
Dunning management.
Customer self-service portal.

Value: quicker and more accurate invoicing, faster receiving of payments, reduced revenue leakage.

Pricing management

AI-powered analysis and optimization of product prices and pricing strategies.
Automated price calculation based on a user-defined pricing strategy.
User-defined price segmentation rules.
Template-based price list creation.
Real-time monitoring of competitors’ prices and stock availability across relevant public sources.
AI-enabled dynamic pricing.

Value: faster price calculation and updating across selling channels, more competitive pricing, increased profit margin.

Project accounting

Analytics-based project cost estimation.
Template-based creation of project budgets.
Real-time project cost tracking.
Automated allocation of actual project costs based on the pre-defined costing method.
AI-powered forecasting of project cost performance.

Value: streamlined planning, control and analysis of project costs.

Power Financial Workflows with Robust Software

ScienceSoft’s team is ready to design and build:

A targeted financial application and integrate it with your existing software ecosystem.
An all-encompassing enterprise financial system.

Get corporate finance software

ScienceSoft’s Customers Say

Wadih Pazos

Chief Operating Officer

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.

Read Original

Heather Owen Nigl

Chief Financial Officer

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.

Read Original

Key Benefits of Corporate Financial Software by ScienceSoft

x2-5

faster financial data processing due to automated workflows
75%+

increase in the financial team productivity due to elimination of manual tasks
90%+

improvement in the financial data accuracy due to eliminated manual errors
Improved

visibility into financial transactions due to their real-time monitoring
Enhanced

protection of sensitive financial data with robust cybersecurity algorithms
Minimized

risk of legal penalties due to compliance with up-to-date financial regulations

Explore ScienceSoft's Selected Projects

Development of Custom Billing Software for a Leading European Marketplace

Functionality for invoicing, payment processing, debt collection, and more.
Integration of billing software into the Customer’s online marketplace.
Automated system scaling from using 2 to > 50 app servers depending on the load.

Customer’s benefit: A scalable billing platform that enables faster processing of international payments and streamlines debt collection.

PROJECT DETAILS

Viber Billing Portal Development

Self-service functionality for the messenger’s users to track the account balance and manage payments.
Automated payment processing.
Support for various payment options.
Real-time fraud detection algorithms to ensure personal and financial data security.

Customer’s benefit: A convenient and scalable billing portal that helps the Customer receive due payments faster.

PROJECT DETAILS

Development of StreamServe Invoice Management Software for a Mobile Operator with 5 Mln Clients

Template-based generation of customer invoices.
Designing custom invoice templates and adding marketing materials to invoices.
Invoice e-signing.
Automated invoice submission to clients via email.

Customer’s benefit: Faster invoice generation and processing, reduced time for monthly billing campaigns.

PROJECT DETAILS

Accounting Software Migration to the Cloud

Re-designing the architecture of a legacy accounting product into a modular web-based multi-tier architecture.
Developing additional features, such as template-based document generation, e-payments, and more.
Enabling users to place space-consuming audit logs in low-cost storage.

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

PROJECT DETAILS

Why Choose ScienceSoft

Since 1989 in IT with 700+ employees on board.
Since 2007 in custom financial software development.
Expertise in advanced techs, including data science, AI and ML, BI, big data, blockchain.
19 years in cybersecurity to ensure world-class protection of financial software and sensitive financial data.
In-house compliance experts with 5-20 years of experience to ensure financial 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 an ISO 27001 certificate.

The Financial Times Includes ScienceSoft USA Corporation in the List of Americas’ Fastest-Growing Companies 2022

ScienceSoft is one of 500 companies with the highest compound annual growth rate in revenue. This achievement is a result of our unfailing commitment to provide high-quality IT services and find best-value solutions to clients' needs.

Read press release

Perks of Financial Software Development with ScienceSoft

Optimized cost of financial software implementation

We define the scope of a financial solution’s functionality based on our customers’ business needs to avoid implementing unnecessary features.
We apply an iterative approach to financial software development to introduce essential features first and enable faster payback from software implementation.
ScienceSoft uses proven frameworks and ready-made components where possible to streamline development and ensure high financial software quality.
For the development of mobile financial apps, we offer cost-efficient cross-platform technologies.

Modern software architecture

ScienceSoft employs a microservices-based architecture to ensure the financial solution’s flexibility to evolve with new features as new business needs arise. To develop and deploy the financial solution faster and provide its high scalability at minimized cost, we rely on cloud-native serverless functions.

Bringing business value with advanced technologies

To deliver additional value across finance workflows for our customers, we power financial software with cutting-edge technologies, including:

Cloud – to build a reliable and secure financial software infrastructure, ensure optimal solution performance, scalability, high availability and speed up its delivery and updates.
AI and ML – to analyze and accurately predict various financial performance variables and provide the financial team with intelligent recommendations on optimal decisions across financial processes.
Big data analytics techs – to capture, consolidate and analyze large volumes of diverse financial data from various sources in real time and get valuable insights on particular aspects of the company’s financial performance.
Blockchain – to facilitate traceability of financial transactions, improve their transparency and safety, and enable secure and fast payments, including cryptocurrency payments, with no intermediary services.

Get Your Financial Software Cost Estimated

To estimate the cost of financial solutions, ScienceSoft takes into account the following factors:

The number and complexity of functional modules required to cover business needs.
The number and complexity of integrations (e.g., with legacy software, third-party platforms).
The volume of data used for financial analytics, the necessity to implement ML algorithms and their complexity.
Required application types (web, mobile, desktop) and a number of supported platforms (for mobile).
Software availability, performance, security, and scalability requirements.

ESTIMATE MY FINANCIAL SOFTWARE PROJECT

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

Choose Your Service Option

ScienceSoft’s financial software development services are customized to your business needs and can be related to:

End-to-end financial software development

We design and build targeted and full-featured financial solutions tailored to your business-specific requirements to help you digitally transform your corporate finance with the help of mature technologies.

The service covers:

Analysis of your financial needs.
Proof of Concept development (optional).
Solution architecture design, UX and UI design.
Preparing the solution implementation plan, including cost & time estimates.
Financial software development (from scratch or platform-based).
Solution integration with existing business-critical systems.
Quality assurance.
Data migration from currently used systems or spreadsheets.
User training.
Continuous support and evolution (if required).

GO FOR DEVELOPMENT

Financial software modernization

We re-design and re-engineer the financial application you currently use, migrate the solution to the cloud, implement new functional modules to help you generate new value with legacy software.

The service covers:

Financial software modernization needs analysis.
Audit of current solution functionality.
Solution architecture re-design, code re-design, UX and UI re-design and/or design of new functional modules.
Preparing the modernization plan (the implementation plan for new modules, the cloud migration plan, the code restore plan, etc.), including cost & time estimates.
Development of new financial software modules, or application migration to the cloud, or software code re-engineering.

Optionally: