Functional requirements of Financial Management System with non-functional
Functional Requirements
- User Authentication and Authorization
- Allow users (e.g., individuals, financial managers, administrators) to create accounts, log in, and manage their profiles.
- Implement role-based access control to manage permissions based on user roles (e.g., admin, user, manager).
- Account Management
- Support the creation and management of financial accounts, including checking, savings, and investment accounts.
- Provide tools for viewing account balances, transaction history, and account statements.
- Transaction Management
- Allow users to perform and record various financial transactions, including deposits, withdrawals, transfers, and payments.
- Provide features for scheduling recurring transactions and managing transaction categories.
- Budgeting and Expense Tracking
- Enable users to create and manage budgets, including setting budget limits and tracking expenses against budgeted amounts.
- Provide tools for categorizing expenses, tracking spending patterns, and generating budget reports.
- Financial Reporting and Analysis
- Generate financial reports, including income statements, balance sheets, cash flow statements, and expense reports.
- Provide analytics on financial performance, trends, and key metrics for decision-making.
- Investment Management
- Allow users to track and manage investments, including stocks, bonds, mutual funds, and retirement accounts.
- Provide tools for monitoring investment performance, calculating returns, and managing portfolios.
- Tax Management
- Support tax calculation and filing, including tracking deductible expenses and generating tax reports.
- Provide tools for tax planning and estimating tax liabilities.
- Bill Payment and Management
- Enable users to set up and manage bill payments, including scheduling payments and tracking payment history.
- Provide reminders and alerts for upcoming bills and payment due dates.
- Data Integration and Import
- Support integration with external financial institutions, accounting software, and payment systems for data import and synchronization.
- Provide tools for importing transaction data from bank statements and other financial sources.
- Alerts and Notifications
- Send notifications and alerts for important events, such as upcoming bill payments, budget limits exceeded, and account activity.
- Allow users to configure notification preferences and settings.
- User Interface and Experience
- Provide an intuitive and user-friendly interface for managing financial accounts, transactions, and reports.
- Ensure ease of navigation and accessibility features for users with different needs and abilities.
- Data Security and Privacy
- Protect user data, including financial and personal information, with encryption and secure access controls.
- Implement measures to prevent unauthorized access, data breaches, and financial fraud.
- Documentation and Support
- Provide user manuals, help guides, and support resources for troubleshooting and training.
- Offer technical support for system issues and user assistance.
Non-Functional Requirements
- Performance
- Ensure quick load times for financial data, reports, and transactions.
- Handle high volumes of data and user requests efficiently.
- Scalability
- Support the addition of new features, accounts, and users as the system grows.
- Scale to accommodate increasing data volumes, user traffic, and transaction activity.
- Reliability
- Ensure high system availability with minimal downtime, especially during peak usage periods.
- Implement backup and recovery procedures to protect data and ensure business continuity.
- Security
- Protect user data with encryption and secure access controls.
- Implement measures to prevent unauthorized access, data breaches, and financial fraud.
- Usability
- Provide an intuitive and user-friendly interface for managing financial accounts, transactions, and reports.
- Ensure ease of navigation and accessibility features for users with different needs and abilities.
- Maintainability
- Design the system for easy updates, maintenance, and troubleshooting.
- Provide clear documentation for system administrators, developers, and support personnel.
- Compatibility
- Ensure compatibility with various devices (e.g., desktops, tablets, smartphones) and web browsers.
- Support integration with different operating systems and platforms for a seamless user experience.
- Data Integrity
- Ensure accuracy and consistency of financial data, including transactions, balances, and reports.
- Implement validation checks and error-handling mechanisms to maintain data quality.
- Support and Documentation
- Provide comprehensive user manuals, help guides, and support resources for troubleshooting and training.
- Offer technical support for system issues and maintenance.
- Auditability
- Maintain logs of system activity, user interactions, and data changes for auditing purposes.
- Provide audit trails for account management, transaction processing, and financial reporting.