Abacus leverages cloud to manage personal investment

NEW DELHI, INDIA: Prism Cybersoft, a provider of software solutions to financial intermediaries has launched a cloud-based personal investment and accounting software Abacus, that allows consumers to manage their investment portfolios easily and efficiently, anywhere, anytime.

Available to individual investors at an annual subscription of INR 600, Abacus is ideal for clients of stock brokers, portfolio and asset managers, and depository participants looking for an efficient solution that requires little or no maintenance.

Transactions can be entered manually, via file upload or in certain cases, via direct integration with the stock broker's back office, thereby making it easy to update records. It includes an integrated complete financial accounting module and user- friendly data entry screens. It also offers report generation support via user-friendly tools and advanced logic.

It has the capability to extract back-office data from the broker by directly “pulling” the trading position. This eliminates the need for data entry, thus providing a faster and more seamless experience for investors.

Abacus also supports multiple entities i.e. consumers can create a single login ID and store portfolios for an unlimited number of entities under that. For a group of investors, this provides an overall view into how their investments are faring and data can be sliced and diced as the user wishes.

Jayesh Shah, CEO, Prism Cybersoft Pvt. Ltd. said, “It allows investors to monitor their financial assets across various asset classes like equities, derivatives, mutual funds, and bank fixed deposits. It also generates various financial statements like balance sheet and profit and loss account."

According to Meetul Patel, General Manager – SMSP, Microsoft India, “We work closely with our partners in India to understand their specific requirements and challenges and help them maximize the potential of the cloud. Abacus is yet another example of our commitment to help partners bring the value of cloud to their customers.”

As it harnesses the power of Microsoft Azure, an open, flexible, enterprise-grade cloud computing platform, consumers’ data is stored in encrypted form in Microsoft’s secure data centres.