Success Story: Accounting Software by IDBI Trusteeship Services Ltd.

Never heard of IDBI ?? Not possible. IDBI Trusteeship Services Ltd., is India’s well known Trusteeship Company. It is capable, has vast knowledge and has superior operational excellence. They are the market player, with a difference, in providing specialized financial and legal services to the Corporates worldwide.

And Virtual Splat has served this Trusteeship company in managing the complete accounts. We have also provided them with travelling and reminder modules which make them work smoothly with their financial activities. Online Accouting software has made them work ealsily.

What we actually did for IDBI : Virtual Splat has provided IDBI a complete ERP Solution which take cares of all the accounts and share management of IDBI Trusteeship business. The software cover areas like Sales Invoice, Journal Voucher, TDS, Bank Reconciliation, Accrud income management, direct link with ERP system etc.
We also, have developed Online Share Management Softwarewhich helps them to manage the stock system. The software consider various possibilities of buying, selling, price updates etc. Once software does the calculations, it also export the reports into HTML/Excel.

We have provided them high level of project management expertise which has helped them in obtaining all the deliverables on time whenever due.

Problems of IDBI Trusteeship Services Ltd.: IDBI had a system which was an desktop application. So, any changes made by various location at a time caused discrepancy in the data. Looking at the financial figures this company deals with everyday, it was very essential to have an online system with fast data evalution. The slow system effects the overall performance of the comapny. Dealing with huge amount of data and delivering correct figures being the key feature of the comapany, they cannot compromise on this feature. They needed a system which was fast and available all the time.

Virtual Splat's Contribution: Okay there is a list below!

• We provided them a complete Web Based / Browser Based Software, which allows them to use the software all time from anywhere.
• Browser and operating system compatible: Our software works on any operating system from Windows 98 to Vista and even on Mac and Linux. It supports all the Browsers, the software is tested on all the famous browsers like Internet Explorer 6, 7 and Fire fox 3.
• Unlimited Users, Unlimited Locations. The major challenge of this huge organisation is its huge territory. To cordinate and have synchronization with the organisaton's multiple branches and hundreds of employees was a big challenge. Virtual Splat has taken care of this issue effetively. The software can handle unlimited users and unlimited locations smoothly.
• Unlimited Email Alerts have made their opration more smooth and effective.
• Instant Support for any problem or update in the software have made our relationship with IDBI more valuable.
• Live Reports, since the web is LIVE have helped them to track all their deliverires and bookings. This feature has given them the ebility to work with more precision and deliver the service at its best to their clients.
• Our constant Monitoring for Performance and Updates have helped them to maximize their output.
• Unlimited Reports! The best and the most important feature of our software is Reports. The various and unlimted reports helps IDBI to analyzise their business and thus help in strategic planning. This is crusial for all the organisation as it helps to build the future plans and strengthens the foundation. All reports exportable to Excel and PDF, thus this eliminates the technological barriers.
• The important module that we have provided them is reminder module. The software automatically send remiders before the due date of any financial acitivity ranging from payment of FD or redemotion of any principal amount etc. This feature has really helped them to eliminate the manual tracking and pay the amount before due date and thus save on the late fee!!
• We have also worked on the traveller module for IDBI. In this the software helps the company to keep track of the employee on leave and thus distribute the work more effectively between the remaining employees.

The challenges faced by us! One needs to update constanlty for perfection, right? Dealing with huge amount of data and various financial programs constantly needed data to be availibable all the time. Also, the speed with which data was made avaiable played an important role. The data needed to be structured for maximum output. We needed to work on speed, structure, database and availability.

But we provided them the Solution: Speed being so crusial, we optimized the database completely. The optimizition was done to all possible levels. This enhanced the speed of the system drastically. Speed issue was thus eliminated. The database was then structured and data was made available all the time for further processing.

There is nothing more satisfying than having plans!! Future Plans of IDBI: After the successful implementaition of the online accounting inventory system which helped them manage their account effortlessly and on time, they palnning to expand their business. They paln to become one of the best Trusteeship Service provider in the World, to be market player, with a difference, in providing specialized financial and legal services to the Corporates worldwide and help them achieve the same. They are growing with a novel vision with our accounting software in the back end. We wish them good luck for all their future endeavours!