Carmatec IT Solutions decided to develop an accounting software for management accounting to track brand wise revenues, sales targets and cash flow. The purpose of the system was to assist Carmatec’s management to be able to intelligently and intuitively track cash outflow requirement, revenues received, sales and revenue trends in order to aid better decision making at the financial level. It also had daily reporting features that keeps the management or concerned department updated about the summary of financial expenditure or cash inflow.
The accounting system offers the following modules
- Brand Management
- Accounting and ledger management
- Client Invoicing and Automated billing
- Budgeting and Reporting against budgets
- Employee Db and Payroll Management
The above automation greatly reduced the accounting departments overhead for generating reports for management with all the alerts needed for making business decisions embedded into the above system.
Carmatec’s PHP Team built the accounting platform in a SaaS based model so that this application can go to market as a financial application for SMB’s. It has the flexibility for data ownership wherein the proprietary data of companies can be hosted on their server itself, and the system can plug to this db so that the data security is maintained.
Client – Carmatec IT Solutions
Man hours spent – 750 hours
- Vendor Management and Bill payments
- Tracking of A/c Recievable and Payable
- Daily and Weekly Cash flow reporting
- Sales Trends based on brands
- Expense Trends based on brands and expense heads.