SoftPak Financial Systems was founded in 1994 and specializes exclusively in enterprise software development, software integration and consultant placement for the financial sector. The company is headquartered in Wayland Massachusetts and has 100 employees worldwide, consisting of product and project managers, developers, QA experts. Our offshore development center, Matrix Systems, is ISO 9001:2015, ISO 27001 (ISMS) certified and working towards CMMI ML 3 with completed Class-C appraisal. SoftPak’s clients are among the leading financial institutions in the country. We have built strong, loyal relationships based on personalized service and close attention to quality and detail. SoftPak’s expertise in developing intuitive software solutions to complex business challenges have made it a proven partner for leading global financial institutions. Our technical consultants bring with them extensive experience in financial services software development, which enables us to integrate quickly with internal business and IT teams.
Certifications/Compliance
United States
35 Main Street Ste 5,
Wayland,
Massachusetts01778
1 (781) 235-3500
United Kingdom
15 Gladstone Road Horsham,
West SussexRH12 2NN
Pakistan
603 Progressive Square Nursery,
Karachi,
Sindh
Sri Lanka
No. 6 Tickell Road Columbo 8,
Colombo,
Colombo
$25 - $49/hr
50 - 249
Service Focus
Focus of Mobile App Development
iOS - iPhone - 50%
Android - 50%
Focus of Web Development
Wordpress - 25%
Drupal - 25%
Joomla - 35%
Sitecore - 15%
Focus of Software Development
PHP - 32%
Javascript - 16%
AngularJS - 52%
Focus of Testing Services
QA Testing - 100%
Focus of Business Services
Financial Planning - 50%
Management Consulting - 50%
Industry Focus
Financial & Payments - 25%
Healthcare & Medical - 25%
Information Technology - 25%
Legal & Compliance - 25%
Client Focus
90% Small Business
10% Medium Business
Review Analytics of SoftPak Financial Systems, Inc
19
Total Reviews
5.0/5
Overall Rating
16
Recent Reviews
What Users Say
Softpak delivered a great compliance solution using AI driven fraud prevention and secure audits.
Mohammad Bitar , Deputy CEO at Al Ansari Exchange at Al Ansari Exchange
Softpak brought innovation, empathy, and excellence, revolutionizing elderly care at COLISEE.
Carole Devalla Launay , Business Units Manager I Health I Services at COLISEE
Softpak made our financial security smooth, reliable, and stressfree, with this project
Richard Stott , CEO at Connectum Capital Management, past President CFA Society Norway and past Chairman BNCC at Connectum Capital Management AS
Softpak transformed our portfolio management with AI driven insights & real time analytics
Sundeep Kumar Mehta , Custody and Clearing- VP & Head of Domestic Sales at BNP Paribas Securities Services at BNP Paribas - Securities Services
A transformative experiencel, Softpak delivered beyond expectations with innovation and care.
Ramzi Bazzy , Vice President of Business Development at Dubai Investment Fund (DIF)
What Users Like The Most
What truly sets Softpak apart is their deep commitment to understanding our vision and values. They didn’t just see us as clients, they became partners in our mission. Their team went above and beyond to ensure the solution was designed to the specific needs of our residents and caregivers. I appreciated their ability to take complex AI functionalities and make them accessible, intuitive, and relevant to our elderly care model.
What stood out was that they genuinely understood our unique requirements and offered solutions that would meet those needs, Unlike other software providers we have worked with, they did not provide the standard multipurpose solution but worked closely with us to develop a solution for us.
What stood out to me most about Softpak was their deep understanding of our needs. Instead of offering a general solution, they took the time to learn about our business model. They engaged our team in thoughtful conversations, ensuring they understood how consultation with placed experts ties into property management and our clients evolving priorities.
What Users Like The Least
If there is anything, I would point out that, there was a slight delay during the final implementation phase due to additional adjustments we requested, this cannot be seen as negative since we were the cause of the delay
I find it difficult to pinpoint an issue regarding this particular project.
While everything turned out well the only area I noticed issues was with the initial stage as they took their time to understand our company which led to a bit of delay but they made up for this slight delay.
Detailed Reviews of SoftPak Financial Systems, Inc
Softpak delivered a great compliance solution using AI driven fraud prevention and secure audits.
Softpak team displayed unparalleled mastery and commitment from the first discussions to implementation and continuous support. Their team not only understood the details of financial compliance but also offered a custom solution that integrated smoothly with our operations. Their AI based Anti Fraud Detection and Monitoring System has enhanced our ability to detect suspicious activities to a great extent, improving the safety of transactions for our clients.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
AI Powered Fraud Prevention Software Implementation
What service was provided as part of the project?
Software Development
Describe your project in brief
The aim of the project was to set up a functional compliance, and fraud detection system, to detect suspicious transactions, assist in secure record keeping, and automate financial reports as per the regulations established by the UAE Central Bank. Softpak worked with us in achieving this, using highly developed AI Fraud Detection Systems, Blockchain based security, and Automated audit tools.
What is it about the company that you appreciate the most?
The AI fraud detection sysytem does more than just raise a flag about a potential risk, it studies transaction patterns, minimizing false alerts while increasing accuracy.
What was it about the company that you didn't like which they should do better?
If I am too mention a particular issue it would be that it took our team quite a while to get used to using the software and this lead delayed us a bit but Softpak team was always willing and they were able to help us till we reached a point where we could operate it effortlessly.
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Financial & Payments
Carole Devalla Launay, Business Units Manager I Health I Services at COLISEE
Posted 1 month ago
Softpak brought innovation, empathy, and excellence, revolutionizing elderly care at COLISEE.
From the moment we initiated the collaboration, their team displayed an unmatched level of professionalism, expertise, and empathy for our mission of person centered elderly care. Every step of the project was executed with thoughtfulness and a deep understanding of our unique needs, making the process seamless and highly rewarding.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
Personalized Wellness and Medication Management System
What service was provided as part of the project?
Software Development
Describe your project in brief
We aimed to introduce a system that was both highly sophisticated and user friendly in order to improve resident care. Softpak developed a Personalised Wellness and Medication Management platform for us, which encompasses artificial intelligence based diet planners designed to prescribed dietary restrictions and personal tastes, and medication tracking tools for timely routine adherence.
What is it about the company that you appreciate the most?
What truly sets Softpak apart is their deep commitment to understanding our vision and values. They didn’t just see us as clients, they became partners in our mission. Their team went above and beyond to ensure the solution was designed to the specific needs of our residents and caregivers. I appreciated their ability to take complex AI functionalities and make them accessible, intuitive, and relevant to our elderly care model.
What was it about the company that you didn't like which they should do better?
If there is anything, I would point out that, there was a slight delay during the final implementation phase due to additional adjustments we requested, this cannot be seen as negative since we were the cause of the delay
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Healthcare & Medical
Richard Stott, CEO at Connectum Capital Management, past President CFA Society Norway and past Chairman BNCC
Posted 2 months ago
Softpak made our financial security smooth, reliable, and stressfree, with this project
From the moment we engaged with their team, we were impressed by their deep knowledge, technical expertise, and commitment to our financial operations. They delivered an impressive and state of the art solution to secure our operations against cyberattacks and frauds, which was not only suitable to our needs but exceeded our expectations in regard to efficacy and reliability.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
We wanted an advanced cybersecurity and fraud detection solution to monitor transaction anomalies in real time, identify risks, and safeguard our clients sensitive financial data. Considering security and trust as prime drivers, Softpak designed a solution customized for the financial services business, fulfilling regulatory requirements, while keeping business running smoothly.
What is it about the company that you appreciate the most?
Their system fits right into our current infrastructure, providing alerts and detailed analytics to respond to threats even before they show up. Their support team is easy to reach, very knowledgeable, and really engaged in helping us succeed.
What was it about the company that you didn't like which they should do better?
If I had to mention one thing, it would be the onboarding process, which lasted more than we anticipated due to complex requirements. Though Softpak team transparent and communicated with us regularly all through that period.
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Financial & Payments
Sundeep Kumar Mehta, Custody and Clearing- VP & Head of Domestic Sales at BNP Paribas Securities Services
Posted 2 months ago
Softpak transformed our portfolio management with AI driven insights & real time analytics
Working with Softpak has improved our investment management operations. From the initial consultation to the final stage, their team demonstrated an understanding of our complex multi asset servicing needs, delivering an intelligent solution that has significantly enhanced our capabilities.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
BNP Paribas - Securities Services
What service was provided as part of the project?
Software Development
Describe your project in brief
The goal of this project was to modernize our portfolio and investment management systems with a platform that could easily handle multi asset support, pricing & risk analytics, performance tracking, and AI driven insights. Given BNP Paribas Securities Services global footprint, we needed a solution that could not only process large amounts of data but also provide insights for smarter investment decisions.
What is it about the company that you appreciate the most?
Softpak team showed expertise in financial technology, they understood multi asset servicing from day one and designed the system to meet our specific needs with a flawless fit for our workflows
What was it about the company that you didn't like which they should do better?
While the experience was positive, the initial setup required extensive data mapping, which caused a little delay. However, softpak team assisted us with this process, making the transition smoother than anticipated.
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Financial & Payments
Ramzi Bazzy, Vice President of Business Development at Dubai Investment Fund (DIF)
Posted 2 months ago
A transformative experiencel, Softpak delivered beyond expectations with innovation and care.
I had a very good and smooth course of time working with Softpak. From idea to rollout of our tools and their perfection, Softpak team kept unbelievably committed towards our excellence with their technical knowledge, smarter outlook at our requirements, and easy to work relationship. There was also a great deal of cooperation.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
DIF Connect: Networking and Event Solutions.
What service was provided as part of the project?
Software Development
Describe your project in brief
We set out to create a networking and collaboration platform called “DIF Connect,” custom made for our extensive array of users. From company executives to startups, we aimed to create an accessible space to connect with mentors, peers, and potential business partners. Our other ambition was to sponsor top quality virtual events, including seminars, networking gatherings, or workshops for clients to expand their horizons and deepen their knowledge base.
What is it about the company that you appreciate the most?
I had a very good and smooth course of time working with Softpak. From idea to rollout of our tools and their perfection, Softpak team kept unbelievably committed towards our excellence with their technical knowledge, smarter outlook at our requirements, and easy to work relationship. There was also a great deal of cooperation.
What was it about the company that you didn't like which they should do better?
While the overall experience was impressive, there was a minor delay in the timeline for integrating some of the advanced event management features.
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Financial & Payments
Earl Gasparich, Chief Executive Officer at Metlifecare
Posted 1 month ago
It was truly great to work with softpak, they really understood and delivered what we needed.
Softpak team took time to understand clearly our unique operations which involve different shift patterns and complex health compliance issues to design a user friendly system for both concerned healthcare providers and administrative staff. The final product consisted of a centralized scheduling dashboard, time tracking capabilities, a requisite reporting mechanism, and a mobile app that would allow quick updates and flexible management of staff schedules.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
Software Development for better scheduling & HR management
What service was provided as part of the project?
Software Development
Describe your project in brief
At Metlifecare we wanted to efficiently manage staff shift schedules and HR activities to optimize staffing levels with reduced errors and more effectively meet the needs of the residents.
What is it about the company that you appreciate the most?
What stood out was that they genuinely understood our unique requirements and offered solutions that would meet those needs, Unlike other software providers we have worked with, they did not provide the standard multipurpose solution but worked closely with us to develop a solution for us.
What was it about the company that you didn't like which they should do better?
I find it difficult to pinpoint an issue regarding this particular project.
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Healthcare & Medical
Connie Wang, Managing Director & Financial Advisor at Prosperity Finance
Posted 1 month ago
Softpak’s innovation and commitment has been essential to improving our client services.
Softpak has been a great partner in providing innovative solutions that were better than what we had in mind. They were always willing to respond to our request when ever it came up
What was the project name that you have worked with SoftPak Financial Systems, Inc?
Smart Tax Debt Structuring
What service was provided as part of the project?
Software Development
Describe your project in brief
The project aim was to create a platform that could provide real time tax savings estimations, align debt structuring with local and international tax codes, and enable strategic planning for deductions and loan management. The ultimate goal was to enhance our clients’ financial flexibility and security.
What is it about the company that you appreciate the most?
Their Good logic and problem solving skills through out the project During development. Softpak’s team faced this headon, designing a dynamic system that updates tax rules automatically, ensuring accuracy and compliance.
What was it about the company that you didn't like which they should do better?
There were occasional delays in communication when technical discussions involved third-party API integrations, but their team always provided thorough updates and solutions.
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Financial & Payments
Esperanza Sehr, Senior Director of Operations at Amistad Industrial Developers
Posted 1 month ago
A transformative partnership that redefined our investment strategies and exceeded expectations.
Softpak demonstrated an unmatched commitment to excellence and delivered actionable insights that transformed our investment strategies and decision making processes.
They also showed us the various ways of implementing those investment strategies to ensure we got the best result.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
Strategic Investment and Development Optimization for park
What service was provided as part of the project?
Business Services
Describe your project in brief
The aim was to identify high yield investment opportunities to expand Amistad Industrial Developers footprint, structure joint ventures that would appeal to international partners craft design strategies for joint ventures that aligned with our long-term vision for growth. Their team not only delivered on these goals but also identified opportunities we overlooked that had immediate potential.
What is it about the company that you appreciate the most?
Softpak team personalized approach and their ability to truly understand the essence of our industry set them apart. Their team was deeply engaged in asking the right questions, analyzing the unique challenges we face in industrial real estate, and creating solutions that perfectly matched our objectives. Their financial analyses were detailed, context driven, and directly applicable to our specific markets.
What was it about the company that you didn't like which they should do better?
If I had to pinpoint a specific area, it would be the time required to finalise some of the reports. However, the depth and quality of their analyses justify the delay period, there were moments when we had to wait longer than expected for critical insights.
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Real Estate
Joyce Chow, Creative Director, Director of Brand Development & Design at Myant
Posted 1 month ago
Softpak team ensured our wearable excelled under every operational scenario.
Softpak testing services exceeded our expectations, transforming how we think about performance optimisation for wearable sensors and actuators. The insight has been very useful in making sure the devices would work perfectly under every possible circumstance.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
Peak Performance Testing for Wearable Technology Systems
What service was provided as part of the project?
Testing Services
Describe your project in brief
The project was aimed to evaluate and improve the performance of our wearable devices under different workloads. We partnered with Softpak to assess device stability under maximum load, improve responsiveness, and help maximise rates for data transmission and processing. This was necessary for the assurance of smooth operation of the technology in extremely high stakes applications.
What is it about the company that you appreciate the most?
Softpak team adapted individual test procedures in consideration of the personalised requirements of each individual wearable technology.
What was it about the company that you didn't like which they should do better?
Although the process was thorough and justified, it slightly delayed our timelines, though their team informed us when ever this happened and overall the process was smooth
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Information Technology
Nate Auffort, CEO and Founder at SWAT Financial
Posted 1 month ago
Softpak expertise and dedication turned our vision into a platform that empowers families everywhere
Working with Softpak team was a smooth process as they made our vision their priority. From the way they took their time to understand our goals, they demonstrated professionalism, technical expertise, and a deep commitment to our mission. Their adaptability was also remarkable, quickly implementing changes based on our feedback without compromising quality.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
Financial Security & Stability Platform for SWAT Financial
What service was provided as part of the project?
Software Development
Describe your project in brief
I was aiming to create a comprehensive financial platform that would empower families to better manage their finances, insurance management, and plan for long term retirement goals. This platform was an important step to fulfil the mission to protect families and individuals through every stage of life.
What is it about the company that you appreciate the most?
Softpak team worked like an extension of our team, as they quickly implemented changes we made without sacrificing quality, all this to protect our goal of protecting families.
What was it about the company that you didn't like which they should do better?
There docunmentation process was really stressful and I would recommend they reduced it but overall working with their team was simply exceptional
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Financial & Payments
Jennifer White, Director of Business Development at Pediatric Specialty Care
Posted 1 month ago
They transformed our vision into reality, empowering caregivers and children alike.
We wanted to integrate the mobile app with medical devices, provide data tracking, enable secure communication with healthcare providers, and also help with medication reminders to ensure comprehensive care and peace of mind for caregivers.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
Pediatric Health Monitoring Solution
What service was provided as part of the project?
Mobile App Development
Describe your project in brief
We wanted to integrate the mobile app with medical devices, provide data tracking, enable secure communication with healthcare providers, and also help with medication reminders to ensure comprehensive care and peace of mind for caregivers.
What is it about the company that you appreciate the most?
They invested time in learning about the unique requirements of our children and caregivers, making us feel like true partners in the project.
What was it about the company that you didn't like which they should do better?
They were delays in resolving some post launch feature requests and this delayed the project a bit. However, their team consistent communication and eventual resolution of issues more than made up for it.
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Healthcare & Medical
Alex Spyrou, Marketing & Business Development Director at EvoDental
Posted 3 months ago
Softpak revolutionized how we care for patients.
From the very beginning, the team showed great dedication towards understanding out mission to change lives through confident smiles. Professionalism and new ideas with constant support have made that leap into the mysterious world of telehealth an amazing and fulfilling experience.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
Revolutionizing Patient Access to Care
What service was provided as part of the project?
Software Development
Describe your project in brief
The purpose of this project was for implementation of telehealth and virtual consultation tools for improvement and promoting accessibility. We needed to do all thisas we wanted to expand our reach through an Expansion Initiative for the patients. At this level, it meant that video conferencing would be included within digital file sharing for records and imaging as well as having patients self-assess. It was an effort to close gaps for those who do not visit the clinic, yet the same personal high standards and effective operations would be maintained.
What is it about the company that you appreciate the most?
Personally I loved as they integrated everything with our system was seamless. The telehealth tools were so easily and intuitively made that our staff needed little training in order to get into them, and all the patients, regardless of age or computer experience, could work their way through the platform.
What was it about the company that you didn't like which they should do better?
If I had to pinpoint one area for improvement, it would be the time it took for some customizations to be completed. Though
everything came out smoothly this caused a bit of delay.
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
In Progress
Healthcare & Medical
Lou Thorne, Chief Operating Officer at ICONIQ Capital
Posted 1 month ago
They kept our firm Cybersecurity safe with unmatched expertise
They proved to be a reliable and strategic partner, consistently demonstrating their deep expertise in cybersecurity. From the very beginning, their team approached our challenges with a problem solving mindset and provided practical, and actionable solutions. They worked effectively with our internal teams, ensuring clarity and transparency at every stage of the project.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
Resilience Initiative focused on fortifying cybersecurity
What service was provided as part of the project?
Testing Services
Describe your project in brief
The purpose of the project was to detect and reduce vulnerabilities in our digital infrastructure, to verify whether sensitive financial and customer data are transmitted and stored securely, and to test systems for fraudulent transaction detection and prevention. Given the global operations and the trust we gain from our large community, we wanted to ensure our cybersecurity was at the top of the agenda.
What is it about the company that you appreciate the most?
They were also really great at paying attention to details in their vulnerability assessments because they would uncover hidden weaknesses that would have likely missed identification otherwise, and also created innovative yet practical and cost-effective solutions as well.
What was it about the company that you didn't like which they should do better?
While our experience was overwhelmingly positive, the only minor challenge was that some of the technical reports required additional explanation for non-technical stakeholders, though their team quickly resolved this by offering training to solve this.
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$10001 to $50000
Completed
Financial & Payments
Scott Bales, Founder & CEO at Tigerblocks
Posted 1 month ago
Smooth Collaboration that provided, results that are unique and professional.
From the initial consultation to the final delivery of our customized asset management solution, their team demonstrated exceptional professionalism, technical expertise, and a genuine commitment to helping us achieve our goals. The collaboration felt more like working with a partner and not a client.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
Custom Asset Management Integration for TigerBlocks
What service was provided as part of the project?
Business Services
Describe your project in brief
As an investment management firm focusing on real estate, we wanted a solution that not only allowed clients to customize their holdings smoothly but also enabled us to optimize performance. The project also included tools for consultant placement and detailed reporting to ensure transparency and alignment with client objectives.
What is it about the company that you appreciate the most?
What stood out to me most about Softpak was their deep understanding of our needs. Instead of offering a general solution, they took the time to learn about our business model. They engaged our team in thoughtful conversations, ensuring they understood how consultation with placed experts ties into property management and our clients evolving priorities.
What was it about the company that you didn't like which they should do better?
While everything turned out well the only area I noticed issues was with the initial stage as they took their time to understand our company which led to a bit of delay but they made up for this slight delay.
Rating Breakdown
Quality
Schedule & Timing
Communication
Overall Rating
Project Detail
$50001 to $200000
Completed
Financial & Payments
John Holloway, Chief Executive Officer at Mojo Coffee
Posted 1 month ago
They took the time to understand our challenges and created a custom Quality Control and Compliance
They built features like real time tracking, compliance alerts, and created reports while ensuring it integrated smoothly with our existing systems. Their training and support made the transition smooth, and they worked closely with us every step of the way.
What was the project name that you have worked with SoftPak Financial Systems, Inc?
Development of Quality control and compliance software
What service was provided as part of the project?
Software Development
Describe your project in brief
We were struggling to maintain consistent compliance with industry food safety standards while improving operational efficiency. The manual processes we relied on led to a lot of error, time consuming, and made it difficult to track and resolve issues promptly. We approached Softpak to develop a custom software solution to ease up our quality control operations, ensure compliance with regulations, and improve traceability across the production cycle.
What is it about the company that you appreciate the most?
They created something that feels like it was specifically designed for our industry. Their training sessions ensured our team was confident using the software from day one, and their follow up has been impressive.
What was it about the company that you didn't like which they should do better?
Please provide your feedback on how GoodFirms has contributed to increasing your visibility among potential clients?
We are honored to be recognized by GoodFirms, an independent reviewer and assessor of financial services and tools. This acknowledgment is a significant validation of our product, the Universal Rebalancer (UREBAL), and our efforts to enhance visibility among registered investment advisors who seek the best solutions for their businesses. We also understand that the financial community trusts GoodFirms for its unbiased evaluations of various financial products and services. Since our feature on GoodFirms, we've seen a noticeable increase in the visibility of our Rebalancing tool, which aligns with one of our key goals.
What are the core values and principles that drive your company's culture, and how do you ensure alignment with these values across your team?
The core values of SoftPak are respect for every member of the team, courtesy and teamwork are also the cornerstone of SoftPak. High-quality work, equality, and punctuality. SoftPak focuses on professional growth, a culture of nurturing and growing is embedded in the values of all our employees. We also provide in-house training and professional coaches for growing together and grooming. Celebrate success and accomplishments together.
Can you highlight some of the key achievements or milestones your company has accomplished since its inception?
SoftPak started as a service-based full-service custom software development company initially, but through our hard work and perseverance, our team developed products of our own as well, due to which we have been profitable every single year since our inception. SoftPak’s major competitors are large financial institutions across the globe mainly in America, Canada, Australia, and Europe. Moreover, our services are mostly based in the US, but we have been developing offices offshore as well.
Could you explain your company's business model? Do you primarily operate with an in-house team or utilise third-party vendors/outsourcing?
The company’s business model is based on offshore production. SoftPak produces everything in-house, we do not outsource any of our products and services. We have an office in Boston, United States for the sales and support team as well as product design and client services. However, our software development is all done offshore. The benefit of our in-house production is that we have strong visibility and control ensuring quality assurance through this process as well.
How does your company differentiate itself from competitors in the industry?
SoftPak Financial Systems differentiates itself through its agility, innovation, and cost-effectiveness, which stem from our small size and focused approach. We are highly responsive to client needs, resolving issues quickly and efficiently. Unlike other software companies, our team is specialized in fintech, and many members of our team have advanced mathematical backgrounds as well as being well-versed in the business needs of the financial sector. Softpak has also been in business for over 30 years, forming long-standing trusting partnerships with our clients. This is a testament to how we approach some of the most complex business challenges in the investment world, our ability to adapt and embrace new technology, and above all our commitment to the highest standards of quality. Lastly, I would say that our company size is small, which helps us keep our costs down, making us very competitive from a pricing standpoint.
How would you describe the dynamics within your team, and how do you foster collaboration and teamwork to achieve common goals?
When I started the company, I wanted to build a company that would last and have a generational impact on our employees’ lives and families. To do that, we focused on a culture of respect, processes, professional growth, and development. Culture is something that is often overlooked, especially when companies are growing fast. We are careful about hiring and we put processes in place that ensure diversity, gender equity, celebrations of milestones, and clarity about roles and responsibilities. By aligning individual strengths with project needs, ensuring team members contribute effectively to shared goals. SoftPak also invests in professional growth with in-house training and coaching, which enhances both teamwork and individual development. Celebrating successes together keeps us motivated and united in delivering high-quality solutions. We have an incredible track record for employee retention, but for those who have moved on to their next opportunity, I consider that an achievement as well, knowing that SoftPak played a part in their career growth.
Could you share a notable success story or case study that exemplifies the impact your company has had on a client's business?
A notable success story that comes to mind is a recent project we did for one of the world's biggest banks. They asked to develop a proposal generation system, as they planned to attract more than 250 clients a week. We believe they have now reached 400 clients per week, and they are extremely happy with our progress, they are initiating more work for us to improve their scalability for the future.
What industries do you primarily cater to, and do you have a significant percentage of repeat clients? If so, what is the ratio of repeat clients?
We primarily serve the fintech industry, focusing on investment registered investment advisors for our flagship product UREBAL, financial institutions, and wealth management companies. A significant portion of our business comes from repeat clients, reflecting the trust we’ve built. In fact, around 80% of our clients return to us for ongoing solutions and services.
What initiatives does your company undertake to foster innovation and stay at the forefront of industry trends? Do you invest in research and development projects?
At SoftPak, we heavily invest in research and development projects. Since we primarily focus and work on quantitative portfolio management where there are a few aspects that always need to be looked at for example optimization and risk analytics performance. This is why we have built an in-house optimizer as well as an in-house risk model manager. We also continuously do research projects so our team can perform better and learn through this process.
How do you build and maintain strong relationships with your clients, and what mechanisms do you have in place for gathering and acting upon client feedback?
We have a client relationship manager who is always in touch with our clients to gain their feedback and this helps us be in check to improve our services and be at the forefront of things. We keep track and data of our clients' issues that are reported to us, our Boston office handles client queries, and our tech officers ensure whatever issues are reported so that is one of the ways we keep our clients happy and satisfied with our prompt responses.
How has your company adapted to changes and challenges in the business landscape, and what strategies have you employed to ensure resilience and sustainability?
We are very well versed in all fintech regulations in the various tax code and other business rules and regulations that come up or as they change. SoftPak also subscribes to a bunch of publications that keep us informed in advance about what is coming in and it's very important that we implement these changes ahead of time as tax codes or SEC codes must be carefully vetted before they are implemented in our field of work. We always ensure we are compliant with the tax code or SEC code to avoid any sort of mishaps and issues.
What payment structure do you typically follow when billing clients? Is it Pay per Feature, Fixed Cost, or Pay per Milestone (phases, months, versions, etc.)?
For all our products we charge an annual licence fee. We offer a breakdown of four quarterly payments and clients are usually happy with the payment structure. However, we seldom take on a one-off project and break it down into pieces. Each part is called a milestone. After every achievable milestone we prepare a payment schedule and show it to the client upon the client's satisfaction we are flexible with the payment plans.
Do you accept projects that meet your basic budget requirements? If yes, what is the minimum budget requirement? If no, what is the minimum budget you have worked with in the past?
Because we are a small company, we have to be selective with our time and focus, which is why we don’t typically take on projects that are less than $100,000.
Can you provide an overview of the price range (minimum and maximum) of the projects your company worked on in 2023?
Last year, our projects ranged from a hundred thousand dollars to two million dollars.
What technological capabilities does your company possess, and are there any ongoing or planned investments in technology infrastructure or tools to enhance your services?
SoftPak is a full-fledged fintech software development house. We have two teams; one is digital-based, and the other is web technology-based. We use lots of different software for software development, for example, source code control, project management, product management, and resource management. Best practices are also another cornerstone of our work and process until we reach the implementation stage of our work. We are also CMI3 certified, so we strictly follow the software development process, we are proudly a full-function software house, but we still specialize in quantitative finance. That is our unique selling point within the software industry, which is the quantitative finance service specialty.
Where do you envision your company in the next 10 years? What are your long-term goals and aspirations for growth and development?
The company has been growing for the last several years and we picked up the pace of growth, but now we are really paying attention to our sales, marketing, and PR branding and we are on a faster growth trajectory. I wouldn't be surprised if the company grows maybe fivefold and goes public in the next 10 years or so.
