The customer chose to protect their confidential information
Invoice Trading for Businesses Willing to Make Profits
About the client
Andersen's customer, in this case, was a company with a specific business model in mind. They needed a modern and scalable platform for invoice trading. The bottom line was that investors bought unpaid invoices at a discount as short-term invoice trading can help businesses in need of liquidity.
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Project Scope
The customer's request was to build a modern scalable platform for invoice trading. The bottom line was that investors bought unpaid invoices at a discount, and short-term invoice trading can help businesses in need of liquidity. Using an invoice trading platform offers many benefits for businesses and investors – this way of financing is cheaper and faster than a business loan, overdraft, or traditional short-term financing.
Other:
ETL, data warehousing, xUnit/JUnit
The customer wanted a bidding model where a trading infrastructure would allow sellers to invest in supplier invoices. In order to release working capital, the seller (registered with the platform) puts an invoice, payable within a month by their debtor (also registered with the platform), for sale.
The resulting product was expected to include:
- Currency exchange in real-time;
- An electronic wallet for all users;
- Real-time dashboard to display investment details and information about all transactions.
Solution
Andersen's team has developed a platform that manages automatic bidding processes for buyers on the one hand and fast and reliable funding for sellers on the other hand.
The following solutions have been implemented:
- Cloud infrastructure with highly scalable application architecture, including deployment automation for seamless integration and code versioning developed by our architects;
- An invoice bid system, implemented as an automated investment module that helps buyers automatically bid on new invoices with predefined preferences;
- Support for multi-currency, implemented in order to expand the preferred options of the target audience, as well as foreign currency exchange that was introduced to help potential buyers when trading different currencies;
- Individual dashboards for sellers, buyers, and agents;
- An online trading platform facilitating the trading process and increasing market share through technology.
Project results
- The online invoice trading platform has gained decent market access and continues to expand. This product is successful, so the customer has managed to collect several rounds of capital funding.
- The number of clients using the platform services has significantly increased. Much more invoices have been sold since the project delivery.
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What happens next?
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If needed, we sign an NDA to ensure the highest privacy level;
We submit a comprehensive project proposal with estimates, timelines, CVs, etc.
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