SaaS Helps eCounting Deliver Online Accounting Services

The buzz about SaaS being adopted by SMEs is definitely making headway, as the adoption graph grows constantly. eCounting Corporate Management Services Private, a Chartered Accountancy firm based in India with associate companies in the Middle East, is one such company the opted for SaaS to fill in the gaps of operational efficiency.

The company was in urgent need of an end-to-end, Web-based solution/ product that would automate its complete accounting and reporting processes to deliver the advantages of paperless account processing as an on-demand service to its clients. With a view to fulfilling this need, eCounting chose Wolf Frameworks’ PaaS.

Why SaaS?

Earlier, eCounting used to send its accountants to the customer’s office to enter the accounting data and prepare weekly MIS financial reports in Excel sheets, which were then e-mailed out to the management. The company felt a need to provide its customers with an easy-to-use, secured, Web-based system, which can be accessed online for entering and storing the accounting-related transactions of an organisation and for generating instant reports and analysis from anywhere. The SaaS business model seemed as the ideal way to deliver such software and functionality to end users.

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Functionalities & Implementation

Sunny Ghosh, CEO, Wolf Frameworks, says, “Wolf Frameworks’ Platform-as-a-Service (PaaS) is a next-generation, browser-based platform. It provides comprehensive functionality, which takes care of the database layer, the application layer, the presentation layer, and the integration and billing layer and offers the ability to develop a customised user interface or deliver an application from the data centre and still take advantage of the Wolf PaaS running behind.”

The Business Rules Engine uses simple English-like executable actions, which manage changes and generate the state of a SaaS application and its entities. Once designed, they are available to be invoked at different stages or at different events from any part of the system.

The eCounting SaaS application Version 1.1 was built in flat 60 days, automating standard Book Keeping & Financial statements for the company. eCounting provided functional details and was not involved in writing the technical code. Wolf Frameworks generated the code based upon the Business Application Design automatically. Wolf’s team provided a four-day hands-on training and guidance program to eCounting business analysts where they shared knowledge and transferred skills rapidly. Hence, eCounting was able to cut down the time from an idea to market dramatically and was ready to go to market with their beta offering within a few months.

Benefits

The connected accounting system, which can be accessed using a browser from anywhere, has reduced travel time and paperwork for eCounting employees. It is now possible to store year-wise financial data in a central stable online repository and track account changes in real time.

The solution also has high data security with 128-bit, encryption-enabled URL and an access-controlled, role-based user system with options to export data based upon individual log-ins.

The eCounting software is currently in the beta phase and is being used by Chartered Accounting firms for managing their customer accounts. Their vision is to be the first and the best online accounting software company. Wolf is helping them revolutionise the accounting service industry by introducing a collaborative accounting approach for all stakeholders, including business owners, CFOs and chartered accountants.