We built a project team for our client to deliver a payment management system. It is integrated with a user’s bank account to display information about transaction details. The system enables to create individual merchants accounts and set up recurring payments for chosen accounts. It holds all the information about one’s transactions and has the statistics module to monitor your financial condition.
More and more companies look for a solution that would optimize their financial procedures. The act of invoice issuing, payment monitoring, financial analysis, all those processes take time and need to be performed every month. If only there was a way to change the hours into minutes…
Actually, now there is.
Our client approached us with two important needs. First of all, he needed an app that would help his company monitor monthly transactions. Second of all, he needed a team that would build that. Luckily, we could help him in both of those things and, what’s more important, - the project started in less than 2 weeks.
We started by exploring the requirements and the project scope. During the Discovery Call, we exchanged all ideas and possible features of the product. We agreed that the ideal would be to leverage an automated mechanism to schedule the recurring payments. Among the functionalities, there was also the user accounts configuration and statistics with the option to generate custom reports.
On the basis of the complexity of the product, we constructed an offer and chose software developers of high expertise in a given technology - Python with the Django framework. To assure the product will be delivered on time, the team also consisted of a dedicated Project Manager, ready to pilot the development process. We provided our client with their CVs in a matter of 3 days in order to start the process right away. After they accepted the scope and the team - we got to work!
Our remote team was building the payment management system while staying in constant contact with the client. We wanted the client to feel they always have someone to update him about the current status and answer possible questions. Since we worked in the Agile model, the process was divided into sprints. At the end of each sprint, we were discussing our work, the progress, and possible obstacles on the way with the client.
"It was a perfect example of Agile development in real life. The tasks on our side were well-organized and our client could notice the pace of the progress. Really great job!"
A company may configure accounts of all its recipients, including information such as their payment details, contact information, or a number of transactions per month.
In case of payments that have to be repeated each month, the system enables scheduling of recurring payments to chosen accounts. This way a company saves time and increases its efficiency.
The statistics module provides insight into one’s financial condition. It informs how much money is transferred from the user account each day/month/year. A user can track the transaction volume and control the status of the payment on the dashboard.
Thanks to an in-depth analysis of the product functionalities and its aim, we were able to produce exactly what our client had in mind. Inkaso provided our client’s company with an 85% better financial management. The general overview of the status of the payments contributed to a decrease in overdue payments per month. The financial reports provided an accurate analysis of transactions which at the end helped the company to manage their money more efficiently.