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Outstaffing team for eCommerce investment service

MXNEY is an easy-to-use eCommerce funding platform that allows users to get financing in a few clicks. All the entrepreneurs have to do is connect their store with the platform to get a selection of funding offers. With an advanced repayment calculator, business owners see their sales plan and, based on it, compensate a small percentage to the platform.

Outstaffing team for eCommerce investment service
Challenge

With a solid idea and confident founders, the MXNEY platform was doing good. But it needed more than that to attract investors and spread the wonderful idea of empowering eCommerce entrepreneurs. Namely, the founders wanted to:

  • Organize the design and development processes better
  • Expand the team (because there’s only so much you can do with one in-house developer and a team of freelancers occasionally working on the project)
  • Optimize the time it took to close deals with clients

When they contacted Perfsol, we knew we could help them solve these issues, and together, we set out to make MXNEY even better.

solution
Business case

It all started when the MXNEY team reached out to us one Friday after a successful pitch several days earlier. They needed to present their MVP to investors by Monday, so they were looking for a software vendor that could build a great product in the shortest term possible. Perfsol was just the vendor.


Naturally, the time restriction was the biggest challenge for us. But after the successful delivery of the MVP, MXNEY saw that Perfsol’s team was professional and trustworthy, and decided to contract us to improve their platform.


And thus, our long-term collaboration began. Perfsol managed not only to add new functionality to the product but also streamline the general product workflow.


Customer feedback:

They've been good at getting their heads into our business, so they understand what we're trying to do. In the beginning, we had long meetings about what we are trying to achieve; our goals and visions, what our product is, and how we can make money. I have worked with other agencies that didn’t put themselves into the project and didn’t understand it.


-The MXNEY team about working with Perfsol

Solution

Better process management

We started out by improving the design and development processes by introducing the Agile approach. Primarily, it meant agreeing with the MXNEY team on strict deadlines for the feature releases.

Our actions also included

  • Creating a product roadmap for one year ahead
  • Planning the backlog for three months ahead
  • Designing before developing at all times
  • Introducing automated testing of each feature

After following these principles, the development and release processes became more straightforward and brought visible results in terms of time and cost-effectiveness.


Messenger functionality update
After organizing the work process, we moved on to improving the features that would cover the most burning request: minimizing the time clients had to spend on communication with platform managers.

To achieve this, we:

  • Designed and developed both desktop and mobile versions of a convenient messenger tailored to the client’s business needs
  • Created a to-do system. Thanks to the ready-made templates, a manager can now add tasks for several stores at the same time.
  • Made an easy-to-use admin panel for platform managers
  • Divided the admin panel for clients and managers into two separate apps

Introducing these upgrades made communication faster and improved its quality. And on top of that, the MXNEY platform became more user-friendly for clients and managers.
Automated processes
Finally, it was time to automate some processes that have been slowing work down. Primarily, this involved revising client onboarding.

So the Perfsol team:

  • Introduced an automatic lead database with a dynamic rules system
  • Implemented the KYC (Know Your Customer) identity verification system
  • Set up open banking to speed up the due diligence process
  • Created a single gateway for integrating online shopping platforms like Shopify, Magento, and WooCommerce
  • Reduced the number of compulsory registration steps by fetching some of the required documents and data automatically

As a result, Perfsol added automation and standardization to the MXNEY user journey.

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