CoinsPaid managers developed and helped implement automated financial reconciliation processes at the request of a client, setting the stage for optimizing internal business processes within the partnership.
CoinsPaid’s Client Engagement Retreat was an intensive two-day event held in Istanbul on May 16–19, 2024, during which CoinsPaid clients had the opportunity to explore numerous partnership opportunities and promising business development strategies related to the company’s products.
In addition to expanding connections and strengthening personal relationships, CoinsPaid clients were able to consult directly with the company’s marketing, security, and product managers. One of the practical results of this activity was the development and implementation of a number of tech solutions to automate and optimize Transformify’s existing business processes.
The initial challenge was the difficulty in quickly and efficiently analyzing price fluctuations from the time a customer is invoiced to payment and subsequent accounting. Moreover, Transformify representatives wanted to automate some reconciliation processes, including chargebacks.
After a detailed review of the payment flow, the CoinsPaid team concluded that the best option would be to create a monthly report of all successful incoming transactions, along with the exchange rate used to credit them. In this way, the client could potentially spend less time and resources managing fluctuations in the exchange rates of the various currencies on the invoice, while continuing to use CoinsPaid’s payment products.
“CoinsPaid has built an outstanding Account Management Team who specialize in comprehensive 360-degree customer management. This means all standard and exceptional customer requests are handled through well-defined internal procedures. For extraordinary or personalized requests, the team collaborates with other internal departments (Marketing, Product, and Technical) to develop a workflow tailored to the customer’s specific needs. Once implemented, data is collected to evaluate the customization, assess the added value provided to the customer, and identify any areas for improvement,” said Mario Fabbrocini, Account Manager at CoinsPaid, commenting on the collaboration.
Lilia Stoyanov, CEO of Transformify, noted that the first part of implementation of the new solution has already been completed, which includes obtaining up-to-date data on cryptocurrency rates against the euro using CoinsPaid’s API. The Transformify team is performing UAT testing. The second part that is around calling the API to obtain information about the exchange rate at the moment the payment was received is more challenging and will take time.
Transformify is one of CoinsPaid’s regular clients. The CP Media team published an interview with Lilia Stoyanov, the company’s CEO, in which they talked about the productive cooperation with the CoinsPaid ecosystem and the factors that allow them to quickly adapt to new markets and customer requirements.
