Smart Vision Technology

SmartAccount

 

SmartAccount is a cost effective, IFRS Compliant Enterprise multi-currency, multi-company, and web enabled e-Payment ready accounting & financial Solutions with centralized database; The accounting transactions can be processed centrally or distributed as desire and consolidated reports of the processing is available 24 x 7 online real-time. This aims at improving your efficiency by automating your system whilst giving you real-time value for all accounting & financial related processing

User Friendly
Easy solutions

Intuitive and flexible.

Empowering contractors, freelancers, businesses, bookkeepers and accountants to manage their books from just about anywhere in the world.

While every company needs accounting software, more and more firms are moving away from horizontal accounting solutions. Twenty years ago, horizontal accounting programs were the norm, most businesses were running accounting systems that were often expensive and difficult to maintain. Today there is a move to implementing accounting systems designed for specialized needs of the business. To address these gaps, SmartAccount was designed to assist organization to process financial information and prepare financial statements at the end of the accounting period in an efficient, cost effective and timely manner.
SmartAccount employs leading edge Information Technology tools; including graphical and user friendly web based interfaces, multiple protocol networking support, a relational database management system, pop-up windows, alerts, dialog boxes, and on-line data entry and retrieval.
The package is a web based menu driven, user friendly, robust, reliable, very flexible, highly secured, and has standard online/guides help.
With user-defined usernames and passwords, the System Administrator can effectively control access to the package, with security checks done at every level - module, form and item level. The package has leading industry standard security technologies that conform to international standard.
Using SmartAccount, the Finance & Account department of any organization would deliver value in line with the organization’s objectives.

SmartAccount has a lot of functionalities that can be customized to allow any organization implement unique accounting policies, it supports policies that differ from one organization to another; because organization policies can be set up and modified without recourse to Smart Vision Technology.
SmartAccount takes into consideration the organization’s specific requirement and as such, it was designed to reflect local, state/region and international requirements of any country and can handle critical operations across many countries.
SmartAccount can easily be customized to:

  • Achieve easy data structure that will meet any organization requirements
  • Support local rules and regulations
  • Handle critical operations
  • Consolidate accounting information
  • Offer better return on investment through rapid implementation and support
  • Support third party development tools and products
  • Support integration with third party applications
  • Support distributed and centralized processing.
  • Manage the development of tomorrow’s financial managers.
  • The benefits of the SmartAccount implementation in the areas of information management, regulatory compliance, business process automation and real-time reporting includes but not limited to the followings:

    The benefits of the SmartAccount in the areas of information management, regulatory compliance, business process automation and real-time reporting includes but not limited to the followings:

  • Multi-currency Support - Capability to handle multi-currency transactions
  • Control – SmartAccount package provides management with internal controls to record transactions in a timely and consistent manner. These controls ensure that only authorized users are performing prescribed tasks and that adequate segregation of duties is being enforced to help prevent fraud and abuse. Well designed internal controls are flexible enough to allow for the reallocation of responsibilities as staffing and workloads shift. Strong controls also help ensure compliance with regulatory mandates such as Sarbanes-Oxley, IFRS (International Financial Reporting Standards), GAAP (Generally Accepted Accounting Principals) and the host of taxing authorities that face today’s organizations.

  • Security – Access to information should be managed in a thoughtful and logical manner. For many companies, accounting software security is based on a need-to-know basis. In addition to access management, the data itself should be secured from malicious activities, as well as system failure or natural disaster. SmartAccount provides for recovery up to the point of failure. Security also means that database rules are enforced to ensure integrity and prevent corruption. Strong data types and server-based referential integrity help ensure that the data is meaningful and as free from error as possible.

  • Information – The ultimate goal of SmartAccount to provide financial information to management and decision makers. For example, how has the business performed and how is it likely to perform? SmartAccount provides its users with real time analytical information and the tools to shift into predictive, “what if” scenarios or hypothetical planning. The ability to present relevant data in a timely, consistent, and concise manner is a hallmark of the SmartAccount software system.

  • Standardization – As an abstraction of the business, the SmartAccount financial accounting system represents a standardized measure of the business. Ensuring that all transactions are recorded in an approved, standardized format, allows that abstraction to be meaningful. The standardization is important to make meaningful period-to-period comparisons or to track geographic, divisional, departmental, line of business or managerial performance.

  • Platform for other systems - The SmartAccount serves as the foundation and system of record for additional information. Analytics and Business Intelligence systems all leverage the abstraction that the system enforces.

  • Cost Reduction & Profit Maximization – SmartAccount provides timely and accurate financial information and business line managers make use of the information to identify and reduce costs and add margin to their areas of responsibility.

  • Efficiency – processes automation means readily available information, staff can spend less time rekeying data, searching and collating, and more time running the business.

  • Improve Service – Accurate invoices and customer statements, timely order status updates, and consistent processes all help improve your customer’s experience. Access to order history helps your sales and marketing team tailor up-sell, cross-sell, renewal and other promotional offers for your existing customer base.

  • Improved Cash Management – If you know your sales order pipeline, your current inventory position and requirements, and your current cash commitments, you can manage the cash requirements of the business without turmoil or the need for sudden corrective actions.

  • Respond quickly to change – SmartAccount; a powerful, flexible accounting software system allows you to respond to rapid market changes, restructure the company hierarchy, add or remove lines of business, change pricing models, acquire new businesses or spin off old ones.

  • Accuracy – There is less room for errors as only one accounting entry is needed for each transaction rather than two (or three) for a manual system.

  • Management information – reports can be produced which will help management monitor and control the business, for example the aged debtors analysis will show which customer accounts are overdue, trial balance, trading and profit and loss account and balance sheet.

  • Staff motivation – the system will require staff to be trained to use new skills, which can make them feel more motivated. Further to this with many ‘off-the-shelf’ packages like MYOB the training can be outsourced and thus making a particular staff member less critical of business operations.

  • Cost savings – computerized accounting programs, SmartAccount, reduces staff time doing accounts and reduce audit expenses as records are neat, up-to-date and accurate.

  • Reduce frustration – management can be on top of their accounts and thus reduce stress levels associated with what is not known.

  • Information flow - provides better information flow for effective planning and strategy to remain ahead in the industry

  • Information sharing - enhances the sharing of information across offices.

  • Paperless environment

  • The system is very intuitive and its users require minimal training.

  • Audit trail - Provides audit trail to monitor all transactions performed on the system.

  • The software solution makes provision for continued review of the company functions and policies in order to achieve a better performance. It also makes provision that will make account department personnel to be more effective in their works, as it transformed record-keeping to automated processing leading to a paperless office.