Electronic bill platform

by
Fintech STARTUP IDEA Jadeer

Idea Description

Invoice collection platform designed and assigned to be the bridge between the retailers and consumers, company to company and company to government that gather different type of paper invoices as an electronic bill in one place which will help in saving and sharing the bill document easily. The story behind the idea, it was about a lady collecting the bills to help her father to reduce the cost of the tax that he has pay to the tax authority, every time they have to collect the papers invoice and take a snapshot and then raise them to the tax authority. Where this prosses take time and high effort, from here the idea of electronic bill platform born. 

 As many studies conduct on the effect of thermal papers used to extract the bills the aim of the platform came to save the environment by reducing the use of papers and replace it within electronic documents. In addition to that, the platform will serve the Oman vision 2040, where most of the service will be digitalized.

The workflow of the platform will be done through a website or mobile App, both consumer and the service providers should have an account registration. Starting from the side of retailers and wholesalers as a customer there will be an upgrade for the account system that they used by adding a barcode to the bills that they extract to the consumers so the consumers can scan the barcode and get the bill as an e-bill direct in the account that they create in the platform. Related to the different companies the platform helps them to create an electronic invoice and share them with other in a safe and accurate way either to the company or to the government. Last but not least, consumers can gather all the bill in one, safe, fast, and accurate place so they can refer to them any time they want and they can share the invoices easily to the tax authority for those who have to pay the tax owed.

Different technologies used to support the platform in a professional and high-performance way such as:

-Mobile Apps and web: to raise the accessibility to the customer we provide a mobile app for both the iOS and Android users and will be supported by a website so the customer can have their choice with which platform they want to reach and use our service.

-Barcode: integrate the barcode method to get linked directly with platform for a fast invoice extraction.

-Chatbot: the platform provided by a live chat to serve the customer as fast as possible and to solve their issue as a 24/7 customer service.

-Data analysis: one of the most important technology that should be used in the platform to improve the service is analyzing data and customer behavior.

The business model of the platform will be done by charging the customer based on a monthly or yearly subscription depending on the needs of the customers and what type of business is it. In addition to that, the ROI will be assigned by many factors such as the cost of developing the Apps and website, the cost of developing POS software and linked it with platform as well as the rate of customers that will use the platform and based on the market scale, we believe that there will be a significant growth on the use of electronic bill platform.

Sustainability is a top priority for many companies, but many don’t know from where to start our electronic bill platform will not only let your company more economical but also more environmentally and sustainable. By making the switch you are taking the responsibility for the environment, conserving natural resource and helping to protect trees and forests because large wood is consumed in the production of paper invoices. Moreover, integration process that our platforms provide to cumulate all the invoice papers in a one place and with a high security system is a disruptive to the traditional way which need a physical store and human interaction to store the papers. Online service that the platform provides to finish the work as fast as possible, from anywhere and to share your document with pressing a click in a few second, we are disruptive the traditional way of shipping and enveloping the bills. These what makes our E-platform non-obvious and disruptive.

Challenges The Idea is Addressing

In terms of the significant pain that the idea can address are :-People’s acceptance: because of the E-bills are not widespread there are some difficulties that the idea will face is to convince people and let them feel safe to go with the new technology rather than the traditional idea they implement, from this point our platforms came to meet the people needs and to let them feel comfort with the new tech. -Regulations: according to the rules of Oman there are a lot of complication which is related to the privacy and security of the data, and any platforms should meet several criteria to meet the license requirement. -Network stability, as the platform depend on the network service this will cause some challenge.

Benefits of Idea Implementation

1-Environmental preservation: the most important benefit that our platform wants to reach is to keep our environment clean by reducing the use of papers, one step towards eco system will lead the world to be cleaner and more sustainable. 2-Time-saving: the platform designed to help as much people as we can from the aspect of the cashier person no need to change the roll of the paper bills which will save the time of the cashier. Moreover, saving the time of different business rather than sending the invoice by using traditional delivery service which take two to four days the platform helps to send and share in a second. Saving a time for the consumers to access and share their bill in a fast and accurate way also for those who have to pay the tax can share the bills direct to tax authority rather than wasting the time by taking a snapshot of the bills. 3-Reducing total cost: reduce the cost of the normal / thermal papers that used to abstract the invoices and to decrease the cost of shipping and storage. 4-Maintenance: customers can maintain the invoices in an organized place for unlimited duration as long as they want and they can refer to them and share anytime and anywhere to any one they want.

Keywords / Tags

Electronic bill / invoices/ new technology / dotnxt idea/ challenge

Keywords / Tags

Electronic bill / invoices/ new technology / dotnxt idea/ challenge

Team Members

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Resources

Resources

168158304167E!.png

Last Update:- 15 April 2023

Download
Resources

168158304167E-Bill.mp4

Last Update:- 15 April 2023

Download

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