Next-Generation Derivative Accounting Software
Before addressing Elinext, the company used an outdated solution which required a lot of manual work when doing calculations and reporting. Our main task was to come up with an efficient and automated management solution helping to mitigate foreign currency risks. The solution was crafted with an understanding of the modern business logic, and the emphasis on efficiency, speed and performance.
The solution supports a variety of needs of the world’s largest team of derivative accountants. Being cross-platform and cross-browser compatible, it provides global availability, improved security and effective maintenance with fix delivery guarantee. Together with financial experts, we have developed a reliable and secure SaaS application with the following features:
- Company/client/strategy management;
- Users and roles management within a company;
- Rate scheduling and pull from external sources;
- Notifications system;
In the account settings management section companies owners can:
- manage new users;
- login/register an account;
- manage trades and curves;
- run market-to-market(mtm) operations;
- manage accounting periods;
- generate MTM reports;
Deployed in a secure cloud, the solution has been integrated with major trading portals, back-office systems and ERP solutions. It’s also worth mentioning that more than 200 currency rates are being pulled from Bloomberg / SD (super derivatives) directly. Currently, the system supports up to 15000 stock tickers (reports of the price for certain securities, updated continuously throughout the trading session).
The outcome of the project is a robust SaaS solution with a completely new architecture. Its new abilities lie within its streamlined processes, improved internal knowledge transfer and vastly increased operational agility, especially when compared with legacy treasury management systems and spreadsheet-based derivative accounting programs.
IT engineers at Elinext constantly update the software to ensure its proper functioning and compliance to all the required standards. As of today, accountants (and other clients) can quickly run MTM operations and generate reports – previously, it’s been done in Microsoft Excel. The most distinctive feature of the new SaaS solution is reporting with the possibility to create charts, graphs and diagrams. This data can be exported into PDF and XLS formats. The application is also available on iOS/Android tablets and smartphones.