The cloud-based web platform supports all contract creation and management processes necessary for both sides to collaboratively work together.
Customer
Tech startup from Switzerland (trueLedger)
Pain
Buyers of professional services want to get great results at a fair price. Vendors want to be compensated for their work, so they can run a business. But misaligned incentives lead to unsatisfactory outcomes and much higher costs than planned. As a result, many tedious governance processes have been introduced (strategic vendor lists, rate tables, invoice review workflows, multi-stage approvals, audits, etc.) making the collaboration cumbersome and nurturing a culture of distrust.
Solution
trueLedger is the only deal platform on the market using computed contracting technology. The solution can flexibly be used for just one deal or across the entire portfolio, stand-alone or integrated with existing systems (procurement, ERP, etc.), for simple standard contracts or highly complex agreements. With very little setup effort, companies of any size and structure can easily use the platform.
Challenge
The Swiss startup trueLedger turned to our team with the idea of creating the above system requiring strong frontend design and development capabilities but also the backend capabilities to program the sophisticated computed contracting logic.
Our Contribution
Being engaged in a full-cycle development project, Emerline’s team designed and built the web platform from scratch based on trueLedger’s specification. It took about six months to develop and deploy the first release, which is now in productive use with clients of trueLedger.
Key Features
Collaborative engagement set-up and negotiation including signing
The platform provides functionality to define an engagement on a very detailed level and let vendors and buyers define various contractual features on various levels.
Product management
Providers can manage their different services or products within product catalogues. Once defined, these product catalogues can be easily applied during the set-up of an engagement. The engagement creation should not last more than a few minutes.
Multi-currency, multi-language
The platform supports multiple currencies and provides automatic conversion based on the up-to-date current exchange rates. Multiple currencies can even apply within one engagement. Products can also be defined in different currencies. All these currency conversions are handled within the platform. The platform can be used in different languages. The look on the different screens as well as the generated reports act according to language settings.
Regular generation of fully automated invoices that are guaranteed to be correct
The required account period can be defined by engagement. It can be selected from monthly to yearly — as the procurement or sales department requires. The statements are generated automatically and users with appropriate rights are notified when new statements arrive.
Projection of resources
The system aggregates and calculates the information about completed work or goods delivered to provide accurate reporting in real-time and make projections for stakeholders if they’re on-track or off-track, run over-budget or under-budget, etc. The system can simulate how an engagement will unfold during negotiation. For active engagements, any projection on actual burn rate or budget can be made and analysed using very comprehensive and interactive graphs.
Core Technologies
Backend
Python
Frontend
React.js
TOP Software Development Companies
Project Results
The web platform delivered by our team is capable of managing processes among buyers and vendors in real-time, including engagement approval, progress tracking, account statement generating, forecasting and analytics.
It boosts transparency of engagement management during the collaboration among the stakeholders. Being an intelligent platform, it minimizes human errors, increases transparency, and improves cooperation efficiency.