The great analytical and problem-solving skills of a single Leobit senior Ruby engineer helped the customer’s company to generate revenue from their product within 4 months of partnership. The Leobit expert rewrote the code, optimized its quality, closed all critical tasks, and guided the successful deployment of supply chain finance solution. The product offers fast, automated, and transparent e-factoring operations and is in high demand in the Estonian market.
Hundreds of invoices are issued every day on the platform. The challenge was to automate document management and generation to optimize routine workflow and enable its scalability. To convert the invoice to a high-fidelity PDF file and quickly deliver it to the user, a Leobit expert created templates for different invoice options, optimized background workers to use optimal numbers of thread, and resolved concurrency and overall performance issues. Batch processing of document generation also greatly reduced memory consumption.
As the customer’s company collects and processes sensitive user data, they faced the challenge of protecting user personal information and preventing any invoice frauds on their platform. A Leobit senior developer added an extra layer of security. He performed integration with Guardtime KSI Blockchain. This cyber-security provider ensures data integrity, verifies the correctness of processes, and guarantees the protection of the customer’s clients on the federal level.
The customer’s cooperation with the Leobit Ruby engineer started in March 2019. In the beginning, he was working on rewriting the existing source code. When the foundation for errorless and unflawed software was laid, he added almost 35% of the platform’s new functionality.
Helped by our senior developer, the trading platform was built following all legal requirements necessary to provide factoring services online. Integrations with Veriff and Entify helps verifying business partners and customers identity, background, sanctions, credentials, etc. Smart-ID integration allows platform users to sign documents online with the same legal effect as handwritten signatures.
To log, sort, monitor and visualize a large volume of data produced by the application, our expert uses Elasticsearch and Kibana. These allowed to bring error processing and application flow control to an outstanding new level. Application analytics is always available in real-time.
Features & Functionalities
Invoice factoring transactions executed using a web platform
Secure exchange of invoice data and confirmations entirely through web interface
Electronic signatures for accelerating signature workflows and e-signing documents in real-time
‘Documentless’ docflow based on replacing trade documents by an irrevocable debt confirmation by the Debtor
Ensured data integrity due to the use of GuardTime for timestamped log records
Automated electronic intercompany communication of business documents with Electronic Data Interchange (EDI) service
Process transparency thanks to an opportunity to track documents and their status online at any stage of the transaction
Suppliers of goods and services, Banks, and іCorporate Buyers that want to add extra days to their payment dates.
As already mentioned, a Leobit senior-level engineer added almost 35% of new features to the customer’s finance solution. He also guided software deployment in the production. With expanded capabilities, the factoring platform addressed its potential customers’ pain points and quickly became one of the leading online factoring service providers on the EU market. As for now, it counts 100+ legal entities.
Our expert also helped to optimize business processes by automating the platform’s reporting system, business-wise emails, operations with documents and transactions. Thus, business owners can focus on primary business objectives rather than manual document creation and tasks associated with keeping documents current. Third-party verifiers and blockchain technology integrated into the finance solution made it a secure digital platform compliant with international standards.
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