Let us begin with perspective that defines Future of work, workplace and workforce. These continue to be emerging in new normal. On specific to workplace, could clearly see how remote ways of working are developing on workplace transformation. As we get into other side of crisis in post pandemic era, we will be in hybrid world embracing hybrid workplaces. Here key to success for enterprises is to leverage the power of skilled workforce across location boundaries (that used to be certain degree of constraint in pre pandemic) with evolving talent models . Similarly for gig workers and talents- this has opened the plethora of opportunities for talents including rural workforce to be inclusive in the transformations at business.
Here challenges in the context payments include how we scale the operations in such marketplace with needs of local and cross border payments and payouts methods, seamless in real-time global payment coverage including multiple channels - cards, bank transfers, e-wallets and cash, security at core and fraud prevention.
What it does - Solution Synopsis
Intend is to have a marketplace platform connecting talent with more opportunities to shape up more lives along with providing businesses the reach to much needed scale and speed. This is envisioned beyond traditional freelancer model to cover talents and businesses of any size. This platform will be at cornerstone for the success of multiple today's system integrators to be relevant and resilient for future where hybrid (physical + remote) models will be new normal to cater to large digital transformations at corporate landscapes.
- Global Business Footprint - Efficiently managing cross geography and cross currency business transactions
- Efficient Payment Workflow - Seamless Integration with Rapyd and External Systems for efficient process workflow.
- Secure Transactions and Data Security - Strictest compliance certifications and attestations, including SOC 1 / SOC2, HIPAA, EU-US Privacy Shield and DFARS
- Diverse Teams - Geographically Diverse Teams working round the clock
- Program and project management for such large enterprise programs
How we built it
Automation and hyper productivity are core dimensions of platform development approach. On the foundation of Quickbase low code no code platform - developed multiple workflows that encompass modules of collect payments, beneficiary addition and validation, disburse individual/mass payouts, wallet to wallet transfer, recurring payouts in defined interval, escrow feature, FX support supported by additional modules of project execution covering admin, originator and work performers.
Platform is integrated with Rapyd api endpoints for above referred payment capabilities - Collect, Disburse, Wallet and Point of Sale
Low code platform allowed to adapt and innovate with speed that matches the pace of change in today's business environment. Decision to adapt the low code in development supported us to iterate on the features in a faster and more productive way giving us the much needed flexibility of creating more, improving, and maintaining business workflows. This resulted in Tech Impetus platform with resilience at multiple levels - technology, operations and experience to suite the market demand.
Rapyd API are core of the platform and this integration was seamless because of the self sufficient documentation available on rapyd developer portal. Available endpoints at Postman allowed to work in parallel to test the workflows.
Challenges we ran into
Integration challenges between low code platform and Rapyd API endpoints. This enforced us to think differently - developed additional layer of abstraction exposing course grained Rapyd API end points that matches the workflow requirements deployed on IBM cloud.
Accomplishments that we're proud of
End to end marketplace platform beyond traditional model to address the future needs of work, workforce, workplace. Platform will be gamechanger to stakeholders including larger enterprises where they could adopt Tech Impetus as backbone to project executions. Example - In built project management suites makes the platform distinguished to current players and one stop solution to projects of any size.
Such envisioned platform at scale demands additional payments requirements - cross border payments and payouts methods, seamless in real-time global payment coverage including multiple channels - cards, bank transfers, e-wallets and cash, security at core and fraud prevention. All these have been implemented with Rapyd provided features.
Project management features include real time insights on progress, tasks, time sheets, expenses, budgets and suite of reports & dashboards.
In addition, quickbase has extended measure on security front -Strictest compliance certifications and attestations, including SOC 1 / SOC2, HIPAA, EU-US Privacy Shield and DFARS
For Escrow payment and failed payments scenarios, Tech Impetus is integrated with Salesforce service cloud to address offline transactions
What we learned
- Brainstorming on how we could funnel through to get the right problem to address. Leveraged the design thinking approach to note down the prioritized problems with post pandemic in mind.
- How we could experiment with cross tech stacks to bring much needed speed, flexibility
- Learned the associated minute details on cross border, cross currency payments in a seamless & real time fashion
- How localization could help to scale business model
- Learned IBM cloud deployment and integration patterns - this could apply to any other hyperscaler be it AWS, Azure too
- How power of such global tech element like Rapyd could bring advantage to address beyond current market share
- Learned how Rapyd APIs have been structured to apply for a specific business need
What's next for Tech Impetus
Voice is the future and how we could integrate the Tech Impetus to voice ecosystem entities like Alexa, Google Home Contact center features Integration with twillio Feedback from industry experts on Market place on gig economy to further strengthen the platform