V Soft ramps up action in wealth management products

PUNE, INDIA: V Soft Solutions & Consultancy Pvt. Ltd (V Soft) is planning to increase its decibels in the market for wealth and finance management products.

While a fresh product (VAULT) has been launched, two new products are in design stage and would cover niche areas like corporate housing and society accounts. "Work is currently on for two more such products. The company has spent the past couple of years in development and it is only now that our products are entering the market," said Vijay Athavale, director – V Soft.

V Soft currently has other products like V Watch – a software to monitor and manage time spent on specific work done, and V Farms – to maintain and track records of fixed assets owned by an organization. It has rolled out an individual wealth management product VAULT.

VAULT will help monitor and control ones personal wealth and finances. After the trial versions, it has been launched as VAULT version 2.1 and comes on a pen drive, which is secured with 256 bit encryption.

Talking about the features of VAULT, Athavale said, "The current release of VAULT allows the user to create data for each family member separately as well as collectively. The main family member will have a password, which can access the records of all family members. As such each family member does not have a separate password. VAULT believes that important documents such as passport, driving license, income tax PAN card, etc are also part of your wealth, as such it allows the user to scan and store images of such documents. It also allows the user to specify any number of insurance policies per family member. This helps in keeping track of the current insurance status of the individual. The policy documents can be scanned with the feature mentioned above."

On the date on which the user wants to start using VAULT, he can specify the assets and liabilities held on that date. VAULT will record that information and thereafter, the user has to only record his day-to-day transactions. The package has several add-on features such as a loan calculator. While updating a loan, the user can check if the EMI offered by the loan agency is generally correct.

In addition, VAULT allows the user to create and maintain household budgets. "These can then be compared with the actual spending habits. There is a complete home accounting facility, wherein the user can record day-to-day transactions relating to receipts and payments. Also, it allows the user to record purchase and sale of shares and mutual funds separately. One of the major features of VAULT is the artificial intelligence that it uses to guide the user in terms of structuring of his portfolio. The user can also create a personalized investment mix plan," he explained.