Financial management system

The company specialises in electronic transactions and instant payments to individuals. It supports the Visa Money Transfer and MasterCard MoneySend protocols, multiple electronic wallets and other money transfer systems. The company's customers span over many industries; betting and Forex, marketing agencies, online stores, online games etc.

Challenge

As a payment system aggregating agent, the customer has to take into account the specifics of each operator: different payment protocols, many rules and fees which constantly change. The monitoring process was manual, the slightest changes in terms were to be taken into account which was expensive, slow and extremely ineffective. The burden increased rapidly, payment management took more and more time which negatively affected the financial results. An automated solution was required to accelerate data processing, reduce costs and remove the burden from the employees. Software products available on the market did not solve the problem. A customised system was necessary which would take into account the customer's needs and specifics. The customer came to us with this request.
Solution

The system architecture not only had to be able to integrate the system with existing customer databases, but the software solution also had to be adapted to various payment gateways with all their diversity of rules, fees and other details. Our engineers faced the following challenges in the process of development:

• Data collection and processing were to be completely automated.
• Any changes on the payment system side were to be taken into account.
• The data gathered were to be displayed in readable form.
• Employees were to be able to customise their reports.

A team of 5 developers and 2 customer-provided specialists had been working at the software product for 4 months. The financial management system was written in PHP and JavaScript.
Result

The final version of the financial management system was successfully integrated into the customer's existing infrastructure and is now working as per normal. It automatically collects information from multiple payment operators, processes it and generates reports. Financial company employees can customise reporting periods, select counterparts from a list, mark contracts and sale points of interest and do many other things. Tasks which used to take a vast amount of time can now be completed in a few clicks. This significantly improved the effectiveness of business processes, reduced data processing times, and increased revenue for the company.