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Corporate Financial Software Development

Since 2007, ScienceSoft has been offering full-cycle financial application engineering services to help companies from 30+ industries design and build reliable financial solutions that digitally transform and improve their financial processes.

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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.
  • Automated payments.
  • 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 via the connected payment gateways.
  • 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.
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Explore Our Featured Success Stories

Perks of Corporate Finance Solutions by ScienceSoft

Modern software architectures

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

Cost-effective tech stack

ScienceSoft’s teams use proven frameworks, cross-platform technologies, and ready-made components (building blocks for the app logic, OOTB UI components, pre-built deployment scripts, etc.) where possible to reduce development costs and ensure high financial software quality. We pick the techs taking into consideration the projected maintenance flows, ensuring optimized app operational expenses.

Value-adding features powered by advanced techs

To deliver additional value across finance workflows for our clients, 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.

Focus on security

We power custom financial software with permission-based access controls, multi-factor authentication, data encryption (incl. asymmetric encryption), user and entity behavior analytics, and other robust security mechanisms. This way, we ensure that the solution and sensitive data it stores are protected against malicious user activities and corporate fraud.

Key Benefits Our Clients Report

  • 2–5x

    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

ScienceSoft’s Customers Say

Star Star Star Star Star

The B2B customer portal meets our business needs of enhanced pricing invoicing and contracting and overall client communication. We are fully satisfied with the solution and the assistance of ScienceSoft’s team. The project continues on the support level, and we are glad to continue our cooperation with ScienceSoft.

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Star Star Star Star Star

ScienceSoft’s team members proved to be extremely flexible and responsive. They stayed in daily contact with us, which allowed us to adjust the scope of works promptly and implement new requirements on the fly. Additionally, the team delivered demos every other week so that we could be sure that the invoicing system aligned with our business needs.

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Star Star Star Star Star

ScienceSoft was to cover end-to-end development of an intelligent invoice processing module for our Azure-based accounts payable product. They selected and implemented techs that ensured the system’s availability and fault-tolerance. We were particularly pleased with neat alignment of the developed module with our requirements. The new software module performs stably even under heavy load.

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Why Engineer Corporate Financial Software with ScienceSoft

  • Since 1989 in IT with 750+ employees on board.
  • Since 2007 in custom corporate financial software development.
  • Expertise in advanced techs, including data science, AI and ML, big data, blockchain.
  • Since 2003 in cybersecurity to ensure world-class protection of financial software and sensitive financial data.
  • Compliance experts with 5–20 years of experience to adhere financial software to the global, industry- and region-specific regulations.
  • Quality-first approach based on an ISO 9001-certified quality management system.
  • Robust security management supported by an ISO 27001 certificate.

What makes ScienceSoft different

We achieve project success no matter what

ScienceSoft does not pass mere project administration off as project management, which, unfortunately, often happens on the market. We practice real project management, achieving project success for our clients no matter what.

See how we do it

Our Practices to Guarantee Successful Financial Software Development

ScienceSoft guarantees that project goals are achieved within the expected time and budget, that collaboration remains transparent, and that emerging risks are addressed quickly. You’re welcome to explore the development and project management practices behind our approach.

If you want more details on any particular processes, are interested in ScienceSoft’s experience in similar finance projects, or have any other questions, feel free to turn to our consultants.

Scoping and estimates

Explore our scoping practices and learn the factors we consider to calculate realistic development cost. You can also check our sample estimates and discover ScienceSoft’s approach to cost optimization.

Collaboration

Get an idea of the communication forms and tools we use in our development projects. We also describe typical Agile collaboration stakeholders and share our practices to pick and allocate adequate resources.

Risk management

Learn potential software development risks and discover our risk mitigation procedures specific to various SDLC stages. You can also explore ScienceSoft’s approach to managing changes and avoiding scope creep.

Quality controls

Understand the controls behind our ISO 9001-certified management system and learn the software and cooperation health metrics we use. You can also see the examples of project reports we deliver throughout the SDLC.

Regulatory compliance

Discover the steps we take to engineer financial software in compliance with financial accounting and data protection standards.

After-launch warranty

Learn the scope of our post-launch software support activities and check what can be covered by our flexible warranty.

ScienceSoft USA Corporation Is a 3-Year Champion in the Financial Times Rating

Three years in a row (2022–2024), the Financial Times has included ScienceSoft USA Corporation in the list of 500 fastest-growing American companies. This is the result of our dedication to driving project success despite any constraints and disruptions.

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Technologies & Tools We Use

Choose Your Service Option

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

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:

  • Solution architecture design, UX and UI design.
  • Preparing the project plan, including cost & time estimates and a risk mitigation plan.
  • Financial software engineering (from scratch or platform-based).
  • Solution integration with the required systems.
  • Quality assurance.
  • Data migration from currently used systems or spreadsheets.
  • Knowledge transfer, including 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:

  • Audit of the currently used financial software, defining the areas of improvement.
  • 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 code restore plan, etc.), estimating the timelines and budget.
  • Migration to the cloud.
  • Software re-engineering.
  • Development of new financial software modules.
Go for modernization