Finance Industry Accounting Software

financial accounting softwareThe finance industry operates under strict regulation and a watchful public eye, while also remaining one of the most competitive and rapidly changing industries in the marketplace. Success in such a market depends on effectively managing growth, remaining both competitive and transparent, and responding quickly to legislative changes.

In order to achieve your business goals, you need financial software that will help you meet compliance and regulatory requirements while also managing accounts, forecasting revenue, and creating budget plans.

Software That Works For You

The sheer volume of information that your business handles each day requires a robust, flexible accounting software solution. An integrated solution will provide a full range of accounting features, such as:

  • Audit Trail Reports—The audit trail report feature tracks each transaction as it is entered or modified. Use this feature to find lost transactions, prevent bookkeeping errors or fraudulent entries, restore corrupted data, and monitor specific actions based on user ID.

  • Loan Management—Manage each loan from beginning to end, including application, approval, payment, sale, invoicing, loan servicing, collections, statements, and analytics.

  • Core Banking—Facilitate both front- and back-office software needs including deposit accounts, lines of credit, mortgage accounts, online banking, and more.

  • Investment Management—If you offer broker/dealer services, you will need a software solution that allows you to oversee commissions and licensing, manage both public and private securities, assist with investment research, handle loans and equity, manage foreign currencies, and track performance.

  • Account Reconciliation—Automate your reconciliation process, investigate discrepancies, compare information, manage risks, enforce standardization, and take any needed steps using streamlined processes that help you maintain flawless records.

  • Insurance—Insurance companies, agents, and brokers each have specific software needs in order to remain compliant with industry regulations. Available features include strong customer service management options, contact tracking, policy management, premium collection, claim payments, and follow-up options. Industry-specific reporting options are also essential for maintaining efficient operations.

Financial institutions and service providers require specific software functions that aren’t available in a general accounting solution. Because the industry requires meticulous data tracking, reporting, and auditing, businesses need industry-specific functions that will enable them to streamline processes and maintain compliance.

Different Needs, Different Solutions

Each accounting software provider will approach banking needs and transactions differently, with different functions included under each category. That’s why you need our unbiased comparison tool to help you evaluate and rank each option based on the specific needs of your business.  Whether you want a fully integrated solution or a specific add-on module, our software selection tool will enable you to choose the software that best meets your requirements.