Advanced BI Platform for Increased Business Opportunities

Advanced Web-driven BI Platform for Increased Business Opportunities

  • In-depth analysis of a prospective business account’s financial strengths and stability
  • Large-scale database processing heterogeneous data fed from multiple disparate resources
  • Enhanced data standardizing process with advanced cleansing and enrichment techniques

Context

Russia’s National Payment Records Bureau required building an online platform that would allow business decision-makers to minimize entrepreneurial risks associated with non-diligent payment behavior of potential business partners, while helping increase sales through collaboration with prospects demonstrating ‘healthy’ payment habits. Utilizing a comprehensive database storing information on firms’ payment history, the solution was expected to provide deeper insight into the financial performance of future business accounts.

Having evaluated several IT service providers, the client selected Itransition thanks to its profound BI expertise and vast experience with large-scale databases, including aggregation of data, feeding from disparate sources, and its analysis, as well as data cleansing and enrichment.

Solution

The developed solution, codenamed Payindex, provides entrepreneurs and businesses across Russia access to potential partners’ business profiles on condition they submit relevant documents on the payment history of their current partners. The information source name and details are kept confidential and can only be disclosed on a court order.

Reconciling disparate data feeds

The solution aggregates various format data fed from disparate sources, which often comes unstructured with no interface support or format consistency. The team had to provide solution for reconciling large volumes of heterogeneous data, preparing it for processing, while ensuring high system performance.

Secure role-based access and robust research capabilities

The platform is built with the focus on the payment history records which are uploaded and processed to calculate Payment Index – an indicator providing an overview of a company’s strengths in fulfilling its liabilities in relation to existing bank credits or payment delays. For security purposes, all the information on payments, debts and similar sensitive data is stored anonymously to prevent its mapping to particular accounts in case of potential malicious penetration into the database.

The platform supports 4 user roles providing for the following capabilities:

  • Guest account
    • Potential partner profile search
    • Partner public profile view
    • Sole trader public profile view
    • Membership application submission
    • User authorization
  • Business partner account
    • Business partner registration
    • Company profile view
    • Company filings management
    • My Company profile management
    • Favorites management
    • Company profile user management
    • New user creation
  • Member access to the Payment History area
    • Payment History area management, including documents upload, results view, data editing and re-upload
  • Payindex operator account
    • Management of the delinquent debtors to the Federal Tax Service (FTS), Russian Pension Fund (RPF), Social Security Fund (SSF), including documents upload, results view, data editing and re-upload
    • Possibility to supplement available business partners spreadsheets with additional data from the Payindex database

Payindex provides robust research capabilities allowing searching accounts by even incomplete parameters like taxpayer's identification number or company’s address and name.

Results

Tapping into increased business opportunities

The solution has been deployed to the production environment with the subscriber audience steadily growing. Information about 6,000,000 companies and 4,000,000 sole traders is contained in the Payindex database. The platform offers a host of unique benefits, including:

  • Identifying the most reliable, that is the prompt paying accounts, and providing them specific business incentives, like payment delays and easier credit terms, thus stimulating sales growth
  • Mitigating the potential financial risks associated with delinquent payers
  • Reducing collection costs by screening potential slow payers

Screenshots

Highlights

  • Solutions

    Portals

    Billing & Payments

    Collaboration Tools

    Business Intelligence

  • Industries

    Banking & Finance

  • Technology

    Ruby

Quick Start