BILL Group - FCE

Success Story: Development of the Online Platform for Trading Electronic Credit Invoices

Revolutionizing Fintech: How BILL's Online Platform Transformed Electronic Credit Invoice Trading

About BILL:

BILL is the first fully digital fintech company designed to simplify the trading of Electronic Credit Invoices. Their mission is to make processes simple, agile, reliable, and transparent, helping their clients generate long-term value for their businesses. With a team of highly experienced professionals in the financial and technology sectors, BILL is committed to creating agile and secure processes that optimize working capital and investment value for SMEs (PYMEs) while enhancing the user experience. Each client is considered as a partner in their mission to make financing simpler and more profitable.

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The Challenge

As an emerging fintech, BILL identified the need for a digital solution that would streamline the trading of Electronic Credit Invoices for SMEs and attract investors interested in this financial instrument. To ensure the solution met market demands, BILL conducted comprehensive research and analysis of the financial landscape, identifying the primary needs of SMEs and opportunities to optimize their workflows through a technology platform focused on operational simplicity and user experience.

The challenge for the Consensus development team was to capture Bill's knowledge and make it a reality.

The Solutions

Armed with insights from their market research, BILL teamed up with Consensus to bring their platform to life. Consensus utilized this valuable input to design and develop a digital solution that was simple, agile, and reliable, addressing the needs BILL had identified.

Development Process:

  • Market Research and Analysis: BILL’s team conducted an in-depth analysis of the financial market, pinpointing key areas where a digital solution could add value. This research served as the foundation for the platform’s development. The responsibility of Consensus' nalysis and PMs team was to interpret and translate Bill's research to effectively guide the development team.
  • Agile Design and Development by Consensus: Leveraging the insights provided by BILL, Consensus carried out the development of the marketplace platform using agile methodologies. This approach enabled rapid iteration and adaptation to market needs, ensuring an effective and robust solution.
  • Testing and Optimization: Before launch, the platform went through rigorous quality testing to ensure security and performance. Adjustments were made based on feedback from pilot users to fine-tune the final user experience.
  • Launch and Continuous Support: Following a successful launch, BILL and Consensus implemented a continuous support system to ensure the platform evolved with market needs, offering updates as required by its users.

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results

What we achieved

Rapid Market Adoption: The platform developed by Consensus, based on BILL’s market research, was quickly adopted by SMEs looking to enhance their financial management and access financing more efficiently, entirely online.

Working Capital Optimization: BILL’s users have significantly optimized their working capital, benefiting from more agile and cost-effective access to financing, thus minimizing the impact of macroeconomic volatility on their businesses.

Improved Decision-Making: Investors, thanks to the value-added information provided by BILL through the platform, have been able to make more strategic investment decisions based on risk analysis for each company.

Continuous Innovation: The platform, developed by Consensus, allows for constant evolution and adaptations, ensuring that BILL remains a market leader with new features that enhance both operations and value for its clients.

Conclusion:

BILL’s success as a fintech platform is a testament to the power of effective collaboration between BILL’s market research and Consensus’s technical execution. Together, they’ve created a solution that not only meets market needs but also sets a new standard in digital financing for SMEs and investors.

This success story highlights how BILL’s market research and Consensus’s technical development came together to create an innovative and effective platform in the financial market.

Consensus is headquartered in the Washington DC metro area and has development centers in Latin America & Europe.
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