Financial Service Platform of UXB2B Case Study

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UXB2B: Chinese Taipei

The case of UXB2B speaks of a rather new technological procedure and application to resolve e-commerce issues related to internet security and e-finance logistics for trading partners in the supply chain industry. However, I digress. UXB2B is an e-commerce company that specializes in the development of e-business applications designed to enable supply chain integration through a streamlined and secure software link. Leadership Information: The CEO of the company has a research background in national defense and an educational background in computer and information science

The software, UXB2B had e-everything as its selling point. For example the software enabled eSales, eProcurement, and eFinance; collectively called "SaaS (Software as a Service)"

SaaS met the requirement that UXB2B sought to bring to the market place. The software enabled e-communication amongst all stakeholders to exchange information to open and close transactions via an interconnected system. At first glance, success in the company's eyes seemed predicated on mastering the technical matters related to the overall security of the software. However, this was not the case. In actuality, the company did not seem to address critical security management and internal control issues of financial and client information. The banks each require a client-specific management information system to engage the financial service platform that is UXB2B. The resolution to this issue was negotiated by a client, actually, and enabled the banks to agree on using an SME client to handle the Credit Sales.

Additionally, another project was won with the UXB2B solution. However, the financial linkage only required a solution for one-to-one transactions whereas the UXB2B solution was designed to process many transaction from many companies and banks ascribed to the platform technology. UXB2B overall appeared rather successful. Since 2009, > 28 banks and 1,000 business clients, ranging from domestic clients to overseas financial institutions, contracted to use the UXB2B platform.

To better handle the obvious insufficiency of the UXB2B technology to provide secure transactions, the company developed high standard software systems and reconfigured the internet security protocols to provide an enhanced e-commerce environment free from hackers and network intruders.

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Issues with secure storage and portability propelled the company to develop the eSeal to integrate transactions in the trade finance platform. The creation of a proprietary risk sharing mechanism enabled the facilitation of a new model design that uniquely engaged the client to operate stored business accounts. Also, the accounts receivables and payables accounted for individually without using a revenue cycle.

These changes to the platform were specifically targeted to enhancing the software's attraction to banks, the business to business community and the business to customer community. The CEO, in reviewing the financial performance of the company, noted the transactions were strong in number except for 2008 and 2009 due to the economic climate. There were projects in the pipeline and the current client accounts were effectively managed. The revenue stream was a function of the service platform and IT Projects/Bank Enterprises. This 70% to 30% mix revenue stream would be threatened if the security in the trading platform were to fail to meet client standards in the future. Additionally, the CEO was concerned with regard to the corporate strategy moving forward and with the costs to advance the technology to utilize the economics of scale and scope of cluster efficiency.

The future growth strategy for UXB2B requires an environmental scan to determine how scalable the technology is to entering a new market with low barriers to entry, minimal cost to assimilate the platform into the market, and the most seamless client base to limit negotiation time. The software has won awards for its e-commerce security and multiple vendor e-finance transactional capabilities. The real job of the CEO is to lead in an uncertain environment. The Asian markets where UXB2B is known and strong appears to be the best demographic n which to remain. Although the steel industry is not the proper industry to remain operations, perhaps….....

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