The SOL Banking System is a digital solution in banking sector. The solution helps financial institutions develop deeper connections with stakeholders, power continuous innovation, and accelerate growth in the digital world. The SOL Banking System addresses core banking, online banking, mobile banking, tablet doorstep service, Wallet solutions, Biometric information capture in KYC, payments with Multi Currency support, treasury, origination and analytic needs of financial institutions worldwide. The SOL Banking System is also customized to address Banking related concerns for Credit Unions in Panama and Latin America. New features like Corporate multi currency Accounts and Email Money have also been added to the list of ever expanding operations that the SOL Banking System provides.
Core Banking: Core banking is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices.SOL Banking System offers Branch management with a Head Quarter such that all information at the branch level is always available to the HQ at the press of a button. Also, Branch Level information related to financial transactions and Customer information flows through the entire system in a secure manner to avoid extraction or usage by a third party.
Microfinance Institute: A microfinance institution MFI is an organization that offers financial services to low income population. Almost all give loans to their members, and many offer insurance, deposit and other services. SOL Banking System offers exclusive services in this sector by focussing on Credit Score evaluation of an individual or a group before making an informed decision on giving a loan or not. Making KYC a benchmark and a global requirement in the solution also makes it more secure for handling financial transactions.
Credit Union: Credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. Worldwide, credit union systems vary significantly in terms of total system assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with assets worth several billion US dollars and hundreds of thousands of members.
Retail banking: Retail banking are a set of services provided by a bank to individual consumers. SOL Banking System offers special services for its retail customers by having dedicated section and services channelized for them. Services offered include Savings and Transactional Accounts, Mortgages, Personal Loans, Debit Cards, Credit Cards, Corporate Accounts, Multi-currency support, Facility to send money through email, etc.
Mobile Banking: Mobile banking refers to the use of a Smartphone or a tablet device to perform online banking tasks while away from your home computer such as monitoring account balances, transferring funds between accounts, etc. SOL Mobile Banking App available for different platforms, makes Banking experience excellent by bringing all the day to day banking features at the press of a button on your phone without the need to rush to the Bank for everything.
Customer portal: Customer Portal is an electronic gateway to access Banking information, services, and information, accessible over the Internet through a web browser. Customer Portal is most prevalently used for the secure exchange of financial information, usually when Customer is working remotely. The information provided is specific to the customer account and includes increased file size limitations and self-service access to his private repository.
Tablet Doorstep banking: The solution comprises of a Tablet (Microsoft or Android) with a GSM card. The Bank Correspondent carries this device with him whenever he goes outside for field work. The device is used for capturing data related to KYC, Account / Loan Account Opening requests, Withdraw / Deposit Cash, Pay EMI and also checks Balances. This solution works in both online and offline scenario as certain rural areas has signal problems which result in erratic internet connection. So the device captures this information from the customer, checks for internet connectivity and Syncs the data accordingly. There is also a provision for offline syncing of data using a cable directly with the server once the Bank Correspondent is back in his branch.
Branchless Banking: Branchless banking is a distribution channel strategy used for delivering financial services without relying on bank branches. Examples of branchless banking technologies are the Internet, automated teller machines (ATMs), POS devices, EFTPOS devices and mobile phones. SOL Banking System focuses on cost reduction for Financial Institutions by introducing seamless Branchless Banking where in a customer having multiple accounts in a Bank will have just one login to manage all accounts including Loan, Credit Cards, Debit Cards, etc. Even Accounts with various branches would be linked in the same login and can be identified easily by going into the accounts section, thus making banking experience a pleasant affair for the customer.
OTP Generation on App: SOL Soft’s Mobile One-Time Password App – SOL Token - delivers unparallel usability with the capability to be integrated with any software needing secured login. Available on all major Smartphone platforms, SOL Token OTP lets users perform multi-factor authentication with the click of a button. Secure access to your cloud apps with a second authentication factor beyond user name and password. In the event that someone steals a user’s credentials, the addition of entering a one-time password is a significant barrier to prevent intruder access to your cloud apps. SOL Token Mobile One-Time Password App is available for Android and i-Phone devices which does not need internet access.
SOL ERP System Features:- Sales & Distribution, Material Management, Quality Control, Finance & Costing, Plant Maintenance, Production & Planning, R&D, HR, Job-Work Sourcing, MIS Matrix, POS Point of Sales (Retails Showroom & Depot Sales) , Business Intelligent.
SOL Software’s Enterprise Resource Planning Software Solutions automates and collect data from all the integrated processes and functions of an organization and then stores the collected data into a unified system. This typical ERP system will use multiple components of computer software and hardware to achieve the integration. The key ingredient of this ERP system is the use of a unified database to store data for the various system modules. These include HR, Finance, Inventory, sales and other related systems of any organization.
Advantages of SOL ERP :
Visibility, Flexibility, Responsiveness & Control for your Enterprise
Globalization has made the world business much more competitive. Improving operational efficiencies, supply chain management and quality are imperative to stay in front. The perpetual business pressure to outperform, do not vary much with company size, location or line of business.
Traditional management practices are either relying on manual system or some piecemeal software modules that are often poorly integrated. Collections of data from these outmoded practices inherited from ancestors – no longer support a company’s changing needs. Information gaps, business process breakdowns and old data inhibit business owner’s ability to control operations forcing them into devising time consuming workarounds just to get the job done. Inefficient information gathering and delayed decision making results in missed market opportunities, wasted effort and cost over-runs. The same pressures are intensified due to globalization. Companies failing to adapt to new industry demands are bound to experience serious consequences.
Achieving shortest time to market is an absolute must to stay one step ahead of competitors. To be responsive and competitive companies need to adopt value added IT solutions provide in SOL ERP to:
SOL ERP system is particularly beneficial to transform a company into a “well-oiled machine” by streamlining and linking core processes across multiple departments and business units to facilitate company-wide collaboration and information sharing thereby optimize all business functions. With this ERP system, a company attains the power to significantly improve its end-to-end operations – from planning through execution, by better management and control.
SOL ERP software which has been customized to support Auto industry (spare parts procurement and supply section) supports the following features:
The system is mainly online business solution as per user rights (Read, Write, Edit, and Print) as well as HOD Approval factor. Its attempts integrate all departments and functions across a company and also integrate all business management functions, including planning, Inventory / materials management, engineering, order processing, manufacturing, purchase, accounting and finance, inspection for quality management, service, human resources, and more….
The ERP is multiple Location (More then One Units) web solution of enterprises where in each and every sections / departments and locations are integrated in to one. Information flows from one place to other automatically with no repetition of entry. It’s based on ISO guidelines therefore it automates business process in a more systematic way and help enterprises to achieve various label of standard in quality. Some of the benefits realized after implementation are:
The SOL ERP system provides the solid operation backbone. Manufacturers and distributors need to improve the volume of production and fulfillment of orders while reducing cost. By optimizing manufacturing and distribution operations with system, you’ll also be able to focus on new business opportunities.
The Residential Society Management Systems Features:- Meeting Hall, Dashboard, Society Calendar, Directory, Responsive Timeline, Notice Board, Manage Events, Society Events Albums, Upload Photo/Files, Privacy Setting, Neighborhood Guide, Opinion Poll Billing & Accounts, Maintenance, Assets Management, Parking Management.
RSMS is a web-based Housing Society Management solution for residential and commercial complexes & Housing Societies. Launched its first implementation as OSOEASY, RSMS has placed its firm steps in the society management industry and won hearts of a lot of happy customers.
We are Ace in giving successful and comprehensive services to Co-operative Housing Societies. We are the Experts in Computerized Billing & Accounts Services to Housing Societies. With the changing Ages in Housing Societies management, we have Simplified Housing Societies Management Professionally.
When the Billing & Accounts are combined with professional management, it makes the life simpler for our clients. Our consistent performances and smilingly connecting with peoples, makes us their first choice. Our Aim is to Deliver Absolutely reliable services with the only goal that is Customer’s Satisfaction.
Salient features list:
The original filing cabinet was introduced in early 1900’s, it offered ground breaking benefits in efficiency, organization, and increased productivity. However, the traditional cabinet is becoming increasingly unable to meet the demands of the modern workplace. On average, organization spend 20% on labor to file individual paper documents for searching for misfiled documents, loses 1 out of 20 documents, makes nos. of hard copies of each document, and spends 25 hours recreating each lost document.
The organization suffer to losses and misfile documents and many numbers of hard paper copies, files searching/finding/verifying scanning on old documents and many more because of hard copy of paper files and filing systems. The SOL Software is offer to eliminate those problems to introduce paperless document management system that called eFileLocker.
The Paperless eFileLocker filing software that is more efficient, more secure, and more effective, than traditional methods. eFileLocker has brought the filing cabinet into the digital age to meet the demands of industries that are bogged down under a mountain of paper. By using eFileLocker products to create a paperless office, organizations benefit in specific and measurable ways for increased savings in time, space, and money, and increased profits.
Multi-Factor Files Authentication, security and access
eFileLocker On-Premise Desktop & web Version — Our original product, this version of eFileLocker is a program that is installed on your company computers, resides within your network or your cloud server, is protected by your firewall, and IP authentication under the consistent high speeds performance searching files and opening files.
eFileLocker Online Cloud Version — With eFileLocker online, the program is not installed on your local company computers, but you can access it through the cloud or your IIS server. This allows your company to access eFileLocker from virtually anywhere, is heavily encrypted, and frequently backed up.
The File Management Portal — Paperless document management system is complete without a client portal, allows very large files to be sent and shared instantly with concerns department or access of concern person, as per originations regulatory standards.
Storage and Search Options
Number of Storage Methods — with eFileLocker, a file can be saved in its native format, synced across multiple programs, exported, uploaded, and downloaded instantly.
Scan — For existing paper documents, you can quickly scan them into your system and make digital versions.
Index — Indexing a document allows it to be tagged with certain keywords, which can then be searched as keywords for that document or set of documents.
OCR and Zonal OCR — when a document is scanned into eFileLocker it can be run through the optical character recognition (OCR) engine, allowing each individual word within that document to become searchable text, which leads too much faster and easier searching. Zonal OCR applies this technology to certain portions of documents only.
Search — Searching for files has traditionally been one of the largest time consuming activities around the office. With eFileLocker products, searching only needs to take a few seconds. Max. You can search for indexed tags on files, drawers, or whole cabinets, titles, individual words within files, or even create a custom searching filter if you are looking for something very specific.
Integration — eFileLocker has integrated its products with other popular workplace enhancing products like QuickBooks and Microsoft Office Suite to make importing and exporting data between programs seamless, secure, and easy.
Backups — eFileLocker online and Secure Drawer benefit from frequent backups, at multiple secure locations, which help keep your confidential data safe even in the event of a disaster.
Encryption — eFileLocker encrypts all its stored files and file sharing with 256 bit encryption. To give some context, many banks use 128 bit encryption for their online portal, which is about 2000 times less secure.
Role Based Securities — Role based securities can be applied to profiles, documents, and cabinets, which ensure that only authorized individuals have access to confidential files.
Audit Logs — Audit logs provide a record of who made what changes to a document.
Compliance — Because of the heavy emphasis eFileLocker places on security and privacy, all our products are in compliance with HIPAA, SEC, and FINRA.
Access – Securely sharing and accessing documents is easy and hassle free with eFileLocker. By going paperless you can share cabinets, drawers, folders, or individual documents with clients, or employees instantly. Our client portal is SecureDrawer, and integrates seamlessly with eFileLocker online and eFileLocker desktop.
Benefits of Paperless Offices
By going paperless, businesses are able to save time, space, and money, while simultaneously increasing compliance and security. Ultimately, this translates to fewer headaches, higher customer satisfaction, substantial savings, and increased profits.
Using eFileLocker for Your Paperless Office
Here is a quick introduction to how eFileLocker helps businesses and other organizations create paperless office environments. eFileLocker is the most cost-effective and comprehensive paperless office solutions for small businesses, government entities, non-profits, and similar organizations.
Any shares investment, the original value of share splits, dividends and capital distributions. The system calculates the capital gain or loss on an investment for profit purposes.
The cost and equity methods of accounting are used by companies to account for investments they make in other companies. In general, the cost method is used when the investment doesn't result in a significant amount of control or influence in the company that's being invested in, while the equity method is used in larger, more-influential investments.
Under the cost method, the stock purchased is recorded on a balance sheet as a non-current asset at the historical purchase price, and is not modified unless shares are sold, or additional shares are purchased. Any dividends received are recorded as income, and can be taxed as such.
Under the equity method, the investment is initially recorded in the same way as the cost method. However, the amount is subsequently adjusted to account for your share of the company's profits and losses. Dividends are not treated as income under this method. Rather, they are considered a return of investment, and reduce the listed value of your shares.
SOL Share A/C Costing software helps in managing Share Account under the 2 methods listed above.