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case studies

NIMBLA

A flexible cloud-based platform that protects SMEs from unpaid invoices.

Recognition

Nimbla was acknowledged to be Insurance Provider of the Year by British Small Business Awards 2018

The start-up has been the first commercial insurance app to be selected for Barclays’ London based accelerator

Starling Bank announces first cohort of commercial apps - Nimbla included The start-up partners with FSB Insurance Service powered by the Federation of Small Business

Background

The UK is facing the bad debt epidemic for SMEs—four out of every five small businesses are owed money. According to local business owners, £5.8bn have been written off in bad debt during the last year.

Our customers have their own story about how bad debt has affected their business. They wanted to find an effective B2B solution to prevent SMEs owners from experiencing the same, improve the economic health, and cure the bad debt epidemic. That’s how the Nimbla project was founded—the fintech start-up that is focused on invoice insurance to protect SMEs from non-payment and bad debt write-offs.

Problem
to Be Solved

The customers hired us to build the web app for their project. Since the platform has specific business requirements, it had to be developed as a highload app which means it could handle big data flow, analyze invoices, etc. Integrated third-party cloud accounting software, in turn, would allow users to import invoices and give access to real-time stats. Our goal was also to make the web app mobile friendly and super simple for users.

Flexible Solutions
for SMEs Owners

As this project has a complex business logic, it required in-depth research and planning. In the beginning, we held a few online sessions to discuss the customers’ objectives. To develop a concept, we conducted a thorough analysis of the UK financial sector and the insurance business as a whole. After that, we compiled a tech spec with detailed requirements and functionality to be applied. We used individual solutions for each feature to ensure a user-centric platform with fast and smooth performance.

Solution

Accounts Integration

Integrate their accounts with third-party cloud accounting software

Invoice Import

Import invoices from third-party providers

Invoice Protection

Quote and buy invoice protection depending on creditworthiness and payment behavior of counterparties

Payouts

Receive payouts in case of a debtor’s insolvency

Payment Forecast

Receive payouts in case of a debtor’s insolvency

Accounts Sync

Sync accounts to ensure a seamless experience

Risk Monitoring

Monitor risk factor and control credit rating of counterparties

Real-Time Data

Receive real-time data on financial information with cloud analytics

Connecting
Additional Provider

Connect additional providers to simplify adding new companies

SMEs Sleep Well
As They Will Get
Paid

The project is ongoing. In addition to what has already been done, we provide maintenance services, make improvements, implement new features considering the customers’ business objectives and the platform load.

Despite the complexity of the app and its business logic, we made it smooth, seamless, and super simple for users.

Cody Henry

Co-Founder at Schedule

We detect problems on websites and apps. As a result we recommend actions to improve the converstion. We also create concepts of the products and visualize solutions. We design intuitive digital products.

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LET’S TALK
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Contacts

info@opengeekslab.com

+38 (093) 103-01-42

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