About Client
The client is an expert in supply chain and trade finance, operating an advanced online marketplace for MSMEs (Micro, Small, and Medium Enterprises). Their platform offers quick, collateral-free short-term loans based on invoices. By simplifying the financing process, they help small businesses access essential funds without traditional collateral. The client is dedicated to empowering MSMEs with innovative financial solutions tailored to their needs.
Business Goals & Specifications
- SaaS Platform
- The solution should be a SaaS-based Invoice Based Lending Finance Portal, allowing companies to register and use the portal via their dedicated URLs.
Authentication
- Login and registration must include multi-factor authentication to ensure secure access. Login and registration must include multi-factor authentication to ensure secure access.
- The portal should have a secure and seamless login experience for all users.
- User Types : Three types of users
- Lenders : Organizations that give loans to small businesses and earn interest. They use this invoice-based lending finance portal to provide these loans.
- Corporates : Companies that make various goods and services. They use this invoice financing solutions to manage their finances.
- Vendors : Sellers who provide raw materials to corporates and dealers who sell final products. They use this invoice funding portal for their transactions.
- Invoice Funding and Financial Management
- Lenders should be able to fund invoices using the platform.
- Lenders, Corporates, and Vendors should manage their financial operations through the portal and view updates in their personal portfolios.
- Report Delivery
- Users should receive financial reports via email or SMS notifications and should be able to download these reports.
- Reports should be deliverable at scheduled times via email.
Back Office Management
- There should be backoffice user roles to manage and oversee the users on the portal.
- Back office management should include user administration and system oversight.
Financial Operations
- The platform should support comprehensive management of financial operations, including invoice funding and loan management, to enhance overall efficiency.
Implemented Features & Capabilities
- Data Security and ERP Integration : Implemented robust data security and offers reliable storage facilities. ERP integration guarantees accuracy and eliminates errors or duplication in transaction flows.
- Authentication and Login : Developed multi-factor authentication via email and supports Single Sign-On (SSO), allowing users to authenticate once and gain access to multiple secured systems without re-entering credentials.
- Flexible Invoice Upload Methods : Implemented a feature where Corporates and vendors can upload invoices manually, via file upload, or in bulk, making the process efficient and user-friendly.
- Notice of Assignment (NoA) and Invoice Funding : Developed a feature where users must accept the NoA when submitting invoices for funding. Lenders can review and fund invoices directly through the Invoice Funding Portal, streamlining the funding process.
- Loan Generation, Notifications, and Dashboard : Developed a system that generates a loan when an invoice is funded and implements email notifications for installment payments. It also features a dashboard view to display all activities on a single page.
- Customizable Report Delivery and Download Options : Developed a feature that allows vendors to set their preferred times and dates for receiving email reports and implement download options for financial reports in various formats, including PDF, Excel, CSV, and Text.
- Bank System Syncing and Real-Time Notifications : Implemented data synchronization with bank systems for seamless financial transactions and developed real-time updates via WhatsApp and email notifications.
- Auto Repayments : Developed an auto repayment feature to ensure vendors do not need to remember loan installment dates, implementing a simplified payment process.
Technology Components & Implementations
- ReCAPTCHA :
- ReCAPTCHA is utilized to protect online submission forms from spam and abuse, ensuring secure and genuine user interactions on the site.
- iText Library :Â
- iText Library was employed to generate PDF reports for various documents, including loan disbursal, invoice disbursal, and corporate user details.
- Apache POI Library :
- Apache POI Library was used to read and write files in Microsoft Office formats such as Excel and PowerPoint, facilitating data handling and document management.
- Service Builder :Â
- Service Builder was utilized to define custom SQL queries in an XML file and to implement custom finder methods for executing these queries.
- JAX-RS Web Services :
- JAX-RS Web Services were developed to create REST APIs, allowing integration with other systems and enhancing interoperability.
- Twilio API (SMS Integration) :
- Twilio Authy API was integrated for user authentication during registration on the portal, enhancing security.
- SAML Integration :
- SAML Integration was implemented to enable single sign-on (SSO), allowing users to authenticate once and gain access to multiple secured systems without re-entering credentials.
- Liferay :Â
- Implemented multi-tenancy using Liferay’s instance feature, providing each company with its own URL mapped to individual Liferay instances.
- Used Liferay’s LAR Import-Export Feature to create new company sites from the master site, facilitating site setup and migration
- Developed a custom module to generate and download reports, enhancing reporting functionalities.
- Developed a custom module to implement multi-factor authentication using SMS and Email channels for added security.
- Created a scheduler to send various types of financial reports to users at scheduled times, ensuring timely updates.
Technical Blueprint
Java
reCAPTCHA
JQuery
Bootstrap
Apache
Liferay
7.1
jSoup
Library
JAX-RS web services
iText
Library
Google
BigQuery
SAML
Integration
Apache
Google
BigQuery
Benefits & Value Proposition
- Attractive User Interface : Enhances user engagement with a visually appealing design.
- Increased Customer Satisfaction : Boosts user satisfaction with intuitive features and seamless interactions.
- SaaS Support : Provides scalable and flexible cloud-based solutions.
- High Availability : Ensures reliable and continuous access with minimal downtime.
- ERP Integration Support : Facilitates accurate and efficient transaction handling through seamless ERP integration.
