OraSYS L&L offers unity between systems in all divisions and units of the financial institution, avoiding multiple data entry. The product reduces the possibility of inaccuracies, miscalculations and erroneous accounting transactions through a standardized operational and accounting methodology that the non–bank financial institution's management forces users to follow.

The OraSYS L&L system, regardless of the modular construction principle, is an integrated system. The integrated principle is implemented with common procedures for all modules: service procedures (start and end of day, archiving, revaluation, etc.), common parameters (exchange rates, interest rates, etc.) and common data registers into which data from the modules are integrated.

The OraSYS L&L system includes both modules for the automation of the core business of the non–banking financial institution and modules and technologies normally associated with ERP systems, such as Long–term Assets, Inventory, Invoicing and VAT reporting, Human Resources Management, etc.

Option for continuous 24/7 operation

The OraSYS L&L system provides for uninterrupted operation as all procedures related to the management of the system (interest accrual, maturity, currency revaluation, total interest, etc.) can be performed during normal operation of the system without requiring an exclusive mode of operation.

Multilingual interface

The OraSYS L&L system allows any user to work with an application in which all menus, screen forms, system messages and printed forms are in a specified language. The data that is entered into the system is in the language in which it is entered with the corresponding code table. Bulgarian shall be used as the basis for translation, with all screens and messages translated initially into English and from there into any other language.

Internet banking

The OraSYS L&L system includes a well–developed module for remote credit management via the Internet, which offers a wide range of services to the non–bank financial institution's customers – not only related to loan information and payments, but also the possibility of onboarding new customers of the non–bank financial institution.

The security of the module is at the highest level as different options are possible to ensure the security of operations (different certificates, TAN by SMS, two and three–factor tokens, etc.).

Product orientation

The OraSYS L&L system provides the opportunity to introduce such an organization of work in the non–banking financial institution that the operational staff (front office) deals mainly with the sale of products (credit, leasing, combined, etc.), without the need to have in–depth accounting knowledge, since the entire post–sale process is fully automated and in accordance with a predefined methodology.

Management of graphical information

The OraSYS L&L system provides the ability to store graphical information (photos, scanned documents, etc.) in the same database as other information, and to enter, display, and verify graphical information in the same client application.

Flexible reporting organisation

The OraSYS L&L system provides the possibility to choose one of the following models of hierarchical organization of work – divisions with one UIC number and separate closed trial balances, divisions with one UIC number and open trial balances (no internal payable/receivable accounts), one division with one UIC number and one trial balance. It is possible to switch from one form of accounting to another. Parallel to the hierarchical structure, additional account centres are foreseen, which can introduce parallel accounting according to other criteria.

Disclosure mechanism

The OraSYS L&L system has a mechanism for notifying a specified group of persons (employees, customers, managers) of upcoming or already occurred events via SMS and/or e–mail.

Full log information

The logical architecture of the OraSYS L&L system, based on I/O queues, not only significantly reduces the hardware requirements, but also provides a natural mechanism by which any action or operation allowed to the user is recorded in a complete log of the requests sent to the system, which can be easily monitored preventively or subsequently. A similar log is maintained for responses to queries sent, including information extracted from the database when a request is made to produce a reference form.

Document system

The internal organization of data in OraSYS L&L is based on an electronic document system in which all information records (customers, current accounts, credits, cards, fixed assets, etc.) are represented as a set of electronic records valid at a specific point in time. All changes to them are stored in parallel, in the form of electronic annexes, together with supporting information on the date, time and operator who made the change.

This mechanism allows authorised persons to analyse all the data at a certain previous point in time, as they were at that time.

High productivity

The logical architecture of the OraSYS L&L system, created by input/output queues and parallel/sequential processing of queries in them, dramatically reduces the requirements on the database server parameters, since the number of connections to the database is fixed in advance and the OraSYS L&L Communication Server performs the function of a multiplexing device. In the conventional approach, each user opens more than one connection to the database and the requirements on the server parameters increase accordingly.

Minimum requirements for communication channels

The Thick client logical architecture ensures minimal information traffic over communication channels without overhead. In practice, only the essential information for each screen form flows through the communication channel, with no data related to the graphical representation of the screen form itself.

Preservation of investments

The SYS L&L system is enabled to meet the increased demands. If there is a need to increase the performance of the system, and subject to a detailed workload analysis, the following development options are possible: (a) Increase the performance of the RDBMS Oracle server by using, depending on the workload, more powerful and/or multiprocessor hardware platforms; (b) Increase the performance of the OraSYS L&L Communication Server by using, depending on the workload, multiple servers to process user requests. The availability of a significant number of options to enhance the performance of an OraSYS L&L system allows the non–bank financial institution's IT team the flexibility to scale the chosen solution.