Identifying the needs, finding the best technology and rolling out various phases of the software solution.
- Sector: Finance FinTech
- Country: United Kingdom
Demica aims to unlock billions of dollars of trapped cash and support the transformation of how working capital is financed.
Founded over 20 years ago, award-winning Demica is a market-leading provider of working capital solutions to large organisations and financial institutions. Using a mix of cutting-edge technologies, Demica has created a powerful, intuitive SaaS platform that connects 500 large corporations in 35 countries to 50 global banks to deliver over $16 billions of funding.
Demica’s vision is to build the world’s first multi-product working capital finance platform to enable global banks to offer the full range of products to large organisations.
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Need for a nearshoring partner
Companies like Demica help to maintain financial liquidity and increase creditworthiness. However, with millions of invoices a day being financed through countless different financial structures by hundreds of different banks, an incredibly flexible platform is required to support the market.
As a part of building a solution for this problem, Demica reached out to us for expertise in software development to act as its nearshore partner.
20 years
on the market being an award-winning, market-leading provider of working capital solutions
500
large corporations connected in 35 countries to 50 global banks to deliver over $16 billions of funding
Scope of work
Demica partnered with us, initially with a requirements engineering process, to identify the needs of new functionality and propose the best technology solution. We created an infrastructure to demonstrate how the software would work, before rolling out various phases of the solution, step by step.
Software
Development
Solution
Architecture
Data
Engineering
Business
Analysis
UX Design
IT partner to add operational flexibility
Demica initially chose to work with a nearshore partner for budget reasons but by partnering with us, the company also gained operational flexibility. Our usage of agile methodologies, including DSDM, enabled the teams to perfect the project results as Demica’s commercial requirements evolved over the 3 years the firms worked together.
With $16 billions of funded programme and growing at 40% per year, Demica’s award-winning platform is recognised as the market leader in the working capital finance sector. Future Processing has been a valuable partner to our in-house technology team as we built the platform to realise our vision to transform how working capital is financed. Delivering top-notch solutions in an agile manner, other Future Processing’s customers can expect a reliable and responsive team.
What we did together
Through a close partnership between our and Demica’s internal development team, the platform has been enhanced with an improved architecture that enables over 20 million invoices to be processed each day, as it scales both horizontally and vertically.
Advanced rules engine algorithms drive preferred outcomes, such as higher advance rates or optimal risk distribution outcomes. While a significantly improved graphical user interface reduces transaction implementation time from weeks to hours.
The operational agility allows Demica to rapidly scale the team up and down and quickly respond to client demands, setting the company apart from its competition in the working capital finance market.
Used in the project
Main benefits of our partnership
- access to competencies going beyond software development as we provided Demica with experienced Security Engineers, Technical Consultants, Data Engineers and Business Analysts,
- predictable, high-quality delivery that gives Demica the possibility to make more dynamic business decisions, setting them apart from the competition in the capital finance market,
- directly helping Demica to build the platform and realise their vision to transform how working capital is financed,
- operational agility allowing to rapidly scale the team up and down, depending on changing business needs,
- gaining a long-term, trustworthy software development partner.
Demica has been widely appreciated and won significant awards
TFG International Trade Finance Awards 2019 for the Best Supply Chain Financier
Global Finance’s Best Trade and Supply Chain Finance Awards 2019 for the Best Chain Finance Providers
RFIx Receivables Finance International Awards 2019 for the Supply Chain Technology Solution Provider of the Year
GTR Leaders in Trade Awards 2020 for the Best Fintech Disrupter
Demica continues to expand globally
Our partnership is ongoing, as Demica continues to expand globally and develops additional financial products. There are still possibilities for further engagements and joint development.
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