ANNOUNCEMENTS

In designing the Photon Financial Hub to focus on the Financial Markets, we have been afforded the time, market knowledge and the latest technology to support the new breed of Crypto products with systems modifications to support them.

Adam Hill (Founder and CEO) said “being a best of breed Subledger means that we can focus on making sure we get functionality like crypto right from the start. We needed to design into the system the ability to handle 18 decimal places, to store the results accurately and to ensure there were no rounding errors. In Finance there is no room for inaccuracy. We also had to ensure that details like the wallet, the transaction hash and other details are kept appropriately. We have been clear from the start that we don’t want our customers to have to customise the software in order to handle these products, which is why we have built the functionality into the native design of the Financial Hub.”

Co-Founder Paul Newton, also commented, “I have seen over the years how generic solutions have come into the Financial Markets and tried to retro fit say multi-leg derivative products (e.g. FX Swaps) and have created some real problems for the Banks who believed the vendor that they could in fact support these instruments. Crypto will be the same, trying to retrofit the value fields both in the UX and the database to store 18 characters after the decimal place or various other changes will be a huge piece of work for legacy platforms. Otherwise trying to work around it by creating custom “crypto amount” fields is another dangerous path to go down.

We’re excited to be part of the SAP business architecture, designed to support crypto currency natively and to be able to offer a functionally rich crypto subledger which will enable the CFO office to analyse the high-volume granular data created by these instruments. Gaining insights like profitability by product, FX pair, customer etc, as well as analysis of fees generated according to the different custody, trading and transactional fee types needed.”

Posted: June 2024

Huge milestone for Photon Software Ltd, going live in the SAP Store.

We are very excited to join the SAP ecosystem and be part of the close knit community of solutions which support the needs of SAP customers. The Photon Financial Hub Cloud for SAP is unique in being the only public cloud, accounting hub / sub ledger for SAP’s financial services customers. Given the drive for SAP’s customers to move to S/4HANA cloud, we feel the timing could not be better in terms of bringing the Photon product to market.

Photon Financial Hub | Photon Software Limited (sap.com)

Posted: April 2024

Photon Software introduces the Photon Financial Hub Cloud on SAP HANA and SAP Analytics Cloud

The Photon Financial Hub Cloud is a Sub Ledger and Accounting Engine which is specifically designed for SAP Customers in the Financial Services sector. The Financial Hub is cloud native and is deployed on SAP HANA and leverages the latest SAP tools such as SAP Analytics Cloud and SAP Datasphere.

Photon Software is an SAP Partner and is listed on the SAP Store. Photon will support the key requirement of Cloud Native Sub Ledger for SAP clients who are looking to move from ECC to cloud version of S/4HANA or indeed implement a best practice thin ledger / detailed Sub Ledger model all within a single stack SAP environment.

Adam Hill, Managing Director and Co-Founder, commented “Having worked in the Sub Ledger and Accounting Engine markets since my NatWest Market days in 1998, I have been solving problems for Capital Markets Finance and Product Control functions for over 30 years. The Photon Financial Hub Cloud is the culmination of all this experience and benefits from my experience in having built and launched two previous Sub Ledger products already in my career. The product has the features that are now traditional in an Accounting Hub and Sub Ledger architecture, while benefiting from a complete redesign, a new approach to ease of use and flexibility, the latest technology and many functional enhancements. It now covers Financial and Product control and is closely aligned with SAP architecture and concepts. We are looking forward to working closely with SAP to service their Financial customers and help them attract new customers in the Banking, Insurance and Asset Management space.”

Paul Newton, Chief Revenue Officer and Co-Founder of Photon Software, commented: “The Capital Markets has traditionally been a complex area for Accounting Engines and Sub Ledgers to service. I’m excited by what Photon has developed for the SAP eco-system and fits squarely into the market need for a high volume, Capital Markets instrument ready, granular accounting engine and sub ledger specifically written on the SAP S/4HANA platform. Customers previously had to choose between a ‘Best of Breed’ Sub Ledger or a ‘Single Stack’ environment which was often a great fit technology wise but too generic in functionality for Banking/Capital Markets/Insurance customers. With the Photon Financial Hub Cloud they can have both, the ‘Best of Breed’ Capital Markets features such as summary to detailed balance drill down within a native single stack SAP environment with seamless integration / drill back from the SAP S/4HANA GL and the TCO benefits that brings.”

Posted: January 2024