Taurus Collection B2B Debt Recovery Platform

Industry: Fintech

Introduction:

Taurus Collection is an ethical and professional B2B debt recovery firm with their customer platform engineered to optimize cash flow for businesses through a “No Collection, No Fee” service model. The platform offers real-time updates, expert legal support, and streamlined debt recovery processes, enabling businesses to maintain a robust financial position by mitigating the risks associated with deferred payments. Leveraging a dedicated team of legal experts and call center agents, Taurus Collection aims to provide efficient and cost-effective debt recovery solutions.

Problem Statement:

Developing the Taurus Collection app required solving several complex technical challenges to ensure the platform could effectively support its “No Collection, No Fee” model. Key issues included building a highly reliable and responsive cross-platform application that could handle real-time data updates and provide seamless user experiences across both iOS and Android devices. Integrating secure, real-time payment processing, managing API authentication lifecycles, and implementing advanced notification systems were also critical to the platform’s success. The development team needed to create a scalable, maintainable architecture that could support future enhancements while maintaining optimal performance and security.

Target Audience: The platform primarily serves businesses of various sizes and industries that require efficient and professional debt recovery services to manage outstanding invoices and maintain financial stability.

Objectives:

Primary Goals:

Deliver a comprehensive debt recovery solution with real-time updates and expert legal support.
Integrate advanced features for efficient debt management and recovery.

Secondary Goals:

Enhance user engagement with a seamless and professional user interface.
Optimize performance through efficient API integration and real-time notifications.
Provide rapid deployment of updates via OTA solutions.

Purpose and Problem Solved

The primary aim of Taurus Collection is to revolutionize the debt recovery landscape by providing businesses with an ethical, efficient and professional service that eliminates the financial strain of unpaid invoices. The platform addresses the critical challenge of managing cash flow disruptions caused by clients deferring payments, thereby ensuring business stability and growth. The app was developed to provide a more accessible and user-friendly way for businesses to manage their debt recovery processes on the go. The app allows users to receive real-time updates, manage their accounts, and engage with the platform’s services from mobile devices. This enhances the convenience and efficiency of the service, particularly for busy professionals who need access to the platform’s features outside the office.

Major Steps and Challenges in Development

Design and Prototyping:
– The challenge was to create a design that not only looked premium but also resonated with the business-oriented nature of the app. Researched and evaluated various UI/UX patterns and templates, ultimately crafting a bespoke design that embodied the brand’s identity.
– Initiated the project by developing high-fidelity prototypes using Figma and Canva. This phase was crucial for visualizing the user interface and user experience.
Client Benefit: The bespoke design and high-fidelity prototypes ensure that the platform meets the specific needs of businesses, creating a user interface that aligns with their professional requirements and enhances user satisfaction
Development Framework:
– Leveraged the React Native framework for cross-platform development, enabling simultaneous deployment on iOS and Android with a unified codebase.
– Implemented component-based architecture to ensure reusability and maintainability of code, which streamlined the development process.
Client Benefit: Using React Native for cross-platform development allows businesses to have a unified experience on both iOS and Android, reducing inconsistencies and providing a smooth user experience across devices.
API Integration and State Management:
– Faced significant challenges integrating the Zoho API due to its intricate token-based authentication system, which required token renewal every 15 minutes.
– Developed a custom middleware solution in the Redux store to handle API requests and token management efficiently. This involved setting up an interceptor to automatically refresh tokens and retry failed requests without disrupting the user experience.
– Used Redux Toolkit to manage complex state interactions, optimizing the app’s performance and reducing boilerplate code.
Client Benefit: Efficient handling of Zoho API authentication and token management minimizes downtime and ensures a seamless experience for users, leading to reliable and uninterrupted debt recovery processes.
Notification System:
– Integrated Firebase Cloud Messaging (FCM) and RN Notifee to implement a sophisticated notification system.
– Developed logic to handle deep linking, enabling users to navigate to specific screens upon receiving notifications, thus enhancing user engagement and interaction.
Client Benefit: Real-time notifications keep businesses informed of debt recovery status instantly, allowing them to make timely decisions and stay engaged with the recovery process.
Payment Gateway Integration:
– Integrated Razorpay for secure and seamless payment processing. This involved handling PCI compliance requirements and implementing webhooks for real-time transaction updates.
– Developed a custom solution for handling payment success and failure scenarios, ensuring robust error handling and user feedback mechanisms.
Client Benefit: Secure and efficient payment processing through Razorpay ensures that businesses can handle transactions confidently without worrying about compliance issues or security breaches.
Deployment and Optimization:
– Managed end-to-end deployment on both the Google Play Store and Apple App Store, addressing platform-specific challenges such as certificate generation and provisioning profiles.
– Conducted rigorous testing and optimization to ensure compliance with platform guidelines and achieve successful approval after initial rejections related to image assets.
Client Benefit: Effective deployment and optimization result in a stable and high-performing application, reducing potential disruptions and improving overall user satisfaction.

Launch & Marketing

Launch Strategy:
- Initiated a multi-phase launch strategy that began with a closed beta to collect feedback from a select group of businesses. This was followed by a soft launch to a broader audience, allowing for performance validation and issue resolution.
- The full-scale release was carefully executed, incorporating feedback from earlier stages to ensure stability and reliability.
Marketing Campaigns:
- Email Campaigns: Deployed targeted email campaigns to industry professionals and potential clients, introducing the platform and highlighting its unique features and benefits.
- Website Integration: Updated the company website to include prominent links to the app, detailed descriptions of its features, and call-to-action buttons to drive user engagement.
- Promotional Video: Created and distributed a high-quality promotional video showcasing the platform’s key features and benefits. The video was used in digital marketing efforts and shared across social media channels.
- Digital Advertising: Implemented targeted digital advertising campaigns across various platforms to reach potential clients and generate interest in the app.
Benefits
- Cost-Effective Debt Recovery: The “No Collection, No Fee” model eliminates upfront costs, reducing financial risk for businesses.
- Real-Time Updates: Provides immediate visibility into debt recovery processes, allowing businesses to stay informed and make timely decisions.
- Expert Legal Support: Access to in-house legal experts ensures professional handling of complex recovery cases.
- Seamless Integration: Streamlined API integration and real-time notifications enhance operational efficiency and user experience.
  Launch Strategy:
  - Initiated a multi-phase launch strategy that began with a closed beta to collect feedback from a select group of businesses. This was followed by a soft launch to a broader audience, allowing for performance validation and issue resolution.
  - The full-scale release was carefully executed, incorporating feedback from earlier stages to ensure stability and reliability.
  Marketing Campaigns:
  - Email Campaigns: Deployed targeted email campaigns to industry professionals and potential clients, introducing the platform and highlighting its unique features and benefits.
  - Website Integration: Updated the company website to include prominent links to the app, detailed descriptions of its features, and call-to-action buttons to drive user engagement.
  - Promotional Video: Created and distributed a high-quality promotional video showcasing the platform’s key features and benefits. The video was used in digital marketing efforts and shared across social media channels.
  - Digital Advertising: Implemented targeted digital advertising campaigns across various platforms to reach potential clients and generate interest in the app.
  Benefits
  - Cost-Effective Debt Recovery: The “No Collection, No Fee” model eliminates upfront costs, reducing financial risk for businesses.
  - Real-Time Updates: Provides immediate visibility into debt recovery processes, allowing businesses to stay informed and make timely decisions.
  - Expert Legal Support: Access to in-house legal experts ensures professional handling of complex recovery cases.
  - Seamless Integration: Streamlined API integration and real-time notifications enhance operational efficiency and user experience.

Results and Impact

The Taurus Collection platform has substantially improved debt recovery processes for businesses, delivering a reliable and efficient solution that enhances cash flow management. The integration of legal support and real-time updates has bolstered client satisfaction and trust, positioning the platform as a leader in the industry.

Future Plans

Looking forward, the focus will be on enhancing the platform’s scalability and performance, incorporating advanced analytics for better decision-making, and integrating AI-driven solutions for predictive analysis and automation in the debt recovery process.

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