Automation and Growth: How Lilab Transformed Factoring for a Financial Client Through a Self-Service Portal

Introduction:

A financial sector client focused on supporting micro and small businesses faced the need to increase its factoring operations and expand its client base. However, their operational process, heavily dependent on executives, not only limited their ability to serve more clients but also created bottlenecks during critical periods.

In this context, Lilab was called upon to design a solution that would allow the client to optimize their processes, free up resources, and ultimately achieve sustainable growth.

The Challenge:

The client's factoring operations system relied heavily on the direct intervention of commercial executives managing an assigned portfolio. Every time a client wanted to register a factoring operation, they had to contact their executive to carry out the process, either virtually or in person.

While functional, this system consumed a significant amount of the executives' time, limiting their ability to attract new clients and creating bottlenecks, especially during closing periods. This resulted in operations not being completed on time, affecting both the client and the financial entity.

Lilab's Solution:

To address this challenge, Lilab developed a self-service portal that allowed clients to manage their factoring operations autonomously and remotely. This portal was designed so that users could select invoices, perform an online risk assessment, and sign document transfers virtually, without direct executive intervention.

The goal was to simplify and speed up the process, freeing up valuable time for executives, who could now focus on attracting new clients.

The Implementation Process:

Lilab adopted a Hybrid-Scrum approach for the project's implementation, which enabled continuous value delivery and agile adaptation to the client's needs. The implementation process included several stages:

A. MVP Development: Lilab focused on developing a Minimum Viable Product (MVP) that covered the essential functionalities of the self-service portal. This included creating intuitive interfaces for invoice selection, online risk assessment, and virtual document signing.

B. Third-Party Integrations: To ensure system robustness, the MVP also included integrations with third-party services via APIs. These integrations enabled fast and accurate risk assessments and ensured the validity and security of transactions carried out through the portal.

C. Iterative Deliveries and Feedback: Development was carried out in sprints, with continuous value deliveries to the client to receive feedback and make necessary adjustments. This iterative approach allowed for constant improvement of the portal until its full version was achieved.

Results and Benefits:

The implementation of the self-service portal brought significant results:

Factoring Process Optimization: The portal allowed clients to carry out factoring operations quickly and efficiently without direct executive intervention. This not only reduced wait times but also improved client satisfaction.
Time Savings for Executives: By automating much of the process, commercial executives saved considerable time, which they could now dedicate to attracting and managing new clients, contributing to business growth.
Real-Time Risk Assessment: The risk assessment process, which used to be slow and cumbersome, was reduced to just one minute per client, thanks to external service integrations and portal automation.
Conclusion:

The collaboration between Lilab and its financial client is a clear example of how automation and technology can solve critical operational challenges and open new growth opportunities. With the self-service portal, the client not only optimized its internal processes but also strengthened its ability to attract and retain more clients in a highly competitive market.

If your company faces similar challenges, Lilab is here to help you implement technological solutions that drive your growth and operational efficiency.