As a Software Developer, Elinext Helps Financial Services & Accounting Companies Move to SaaS

Marina Astapchik
IT Trends Research Specialist
July 9, 2012

Elinext Group, an alliance of custom software development companies, is amplifying its focus on developing SaaS and mobile/tablet solutions for the financial sector

July 09, 2012. Elinext Group’s board of IT Directors organized today a round-table meeting to announce that the company is amplifying its focus on developing SaaS solutions for financial and accounting companies.

Software-as-a-Service is a step forward from the traditional desktop application models. SaaS solutions can help financial institutions and companies reach a whole new level of service and improve performance. “We are very positive about the opportunities the SaaS model can offer companies providing financial and accounting services”, said the speaker Alexey Shliakhouski, Elinext Group’s IT Services Director.

Development of software for such companies requires profound knowledge in subject areas, because serious business logic, rich functionality and sophisticated algorithms come to the forefront. “Financial software needs pinpoint accuracy and ultimate attention to details. People entrust the system high numbers, millions at times. Therefore, no mistakes are allowed”, complemented Elinext Group’s CTO. “If talking about the level of our developers, we can tackle even the most complicated challenges. Our experience with market-leading global financial services companies is a clear evidence for that“, proceeded Alexey Shliahouski.

One of Elinext Group’s clients is a US-based provider of financial accounting and reporting services to various institutions and companies ranging from Fortune 100 to Fortune 1000. The client tasked Elinext developers to create a new architecture of accounting software that could track the life of foreign exchange derivatives from inception up to realization.

The old Windows desktop application was replaced by a SaaS web application. Its benefits include availability, integration with the existing systems (back compatibility) and effective maintenance (fix delivery guarantee).

The new cross-platform and cross-browser solution allows users of the upgraded system enter their accounts from any connected computer or even mobile device across the globe. There is no need to install software on users’ PCs. Security is the next important factor. With HTTPS web access, processes and procedures are now protected from outer intrusions. According to Elinext developers, the most distinctive feature of the new software is reporting. Charts, graphs and diagrams that can be created in the system contribute to data visualization and add business intelligence. IT specialists at Elinext Group constantly update the software to ensure flawless functioning of the system and its compliance to all the standards.

Recognizing mobility as a contemporary social and business phenomenon, Elinext Group is today also in progress to implement SaaS solutions that can be accessed from smartphones and particularly iPad and Android tablets. “With IDC forecasting global tablet shipments to reach 107.4 million units only this year, I am confident that mobile platforms offer great potential for profits to financial and accounting companies,” concluded Elinext Chief.

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