Bangalore, September 8, 2022: Accounting and financial software specialist IDOS has launched its flagship product ‘Digital CFO,’ -- an integrated & automated bookkeeping, accounting, financial management & reporting platform for professional service providers.
It empowers accounting & audit firms with digital technology that enables them to manage routine bookkeeping, accounting and reporting through automation and then enables them to leverage data for growth & profitability.
Digital CFO, for members of ICAI, will provide the following functions:
-Free to use for the first five financial years
-Free upgrades and updates to all CA Firms of new features and capabilities
-Quarterly updates and new features based on inputs of ICAI and its members
- Will enable CA professionals to bring in uniformity and standardization of accounting and audit practices
-Free on-line training
Digital CFO automatically passes journal entries, prepares trial balance, P&L account, and balance sheet. Digital CFO, is functionally architected by Chartered Accountants with deep domain knowledge and good understanding of technology.
Digital CFO is an integrated & automated future proof, technology platform built on highly scalable open-source tech stack & hosted on secure cloud infrastructure (Microsoft Azure).
The platform has advanced capabilities like:
- Automated bookkeeping
- Ledger posting in compliance to GST / TDS and internal controls
- Company wise / branch wise / project wise trial balance, ledgers, inventory report, dashboard, and other analytics with just a click
- Real-time decision making
- Real-time age analysis of receivables and payables and behavior analytics
- Manage travel claims, expense claims, expense reimbursements and set up eligibility norms and other internal financial controls to completely automate claims management and accounting.
- Generate TDS report in real-time
- API integration with SAP
- Provides complete audit trail of transactions and drill down reports to review the transaction source including supporting documents
Says Cheruku Srikanth, Founder & CEO: “Digital CFO was built with a vision to empower organizations with accurate & reliable financial information. It is functionally architected by Chartered Accountants with deep domain knowledge and understanding of technology. And it continues to grow with an ambition to promote compliance in accounting & financial management through simplification of adherence process.”