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About the Client

Creditors meeting is an agency established to provide regulation of the relationship between debtors and creditors. Meeting participants include both authorized bodies and those creditors which are already included in the register on the day of the event.

Goals

The platform is designed to hold online face-to-face and absentee meetings with video chat for up to 150 users at a time, where they can discuss the agenda, and hold an open or a closed vote. The outcome of the meeting is summarized in an accepted and e-signed legal document.

Tasks

Organizing creditor meetings via remote access
Electronic document flow during creditor meetings, record storage and arrangement
Reducing the cost of face-to-face meetings
Automating document preparation and processing
Streamlining the arrangement of documents for the meetings
Meetings enhancement to reduce time expenditures

Process

Following project initiation, our team had to research all the intricacies of the creditor meetings business processes and study the legislation.

Concurrently we designed the platform architecture considering the requirements for scalability (up to 1000 connections at a time) and fault-tolerance.

The team paid particular attention to the invariance (ongoing stability of the system, regardless of user actions) of the system under development.

System enhancement and introduction of the new functionality happened directly within the development process.

Solution

When implementing the project, we addressed the following:

Formalized and structured creditor meeting business processes

Studied the business processes at all levels - technical, legal, and business level

Developed a constructor for creating 10 voting forms and their validation during system operation

Created 5 ways to validate participants and 3 ways to implement legally valid documentation flow on the site

Developed both in-person and absentee voting forms

Built a scalable platform architecture supporting group video chat with up to 150 participants at a time

Enabled documents approval using an electronic signature and SMS messages

Enabled 5 voting scenarios taking into account the Federal Law "On Insolvency (Bankruptcy)"

Results

The developed platform allows organizing meetings of creditors through remote access, which leads to a reduction in the cost of holding face-to-face meetings by several times.
Electronic document flow created in the system allows you to organize all the important documentation and store it in one place, which practically rules out the risk of losing important documents.
As of now, there are 272 participants and 50 organizers registered in the system with over 50 meetings held.
We continue improving the platform, and developed a joint plan with the customer for new functionality.

Creditors Meetings Online

Goals

Tasks

Process

Solution

Result

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