CTO Insights

Avrium – Case Study

Case Studies
November 16, 2020

Executive Summary

The team at Avrium had a long history within the FinTech sector and had seen the challenges faced by small to medium businesses (SMEs) with regards to cash flow and working capital finance.  The team had validated the idea for Avrium in the market and needed to create a rapid prototype take to the market to see how it would react.​

Company Introduction​

The team at Avrium had worked in the SME financing space for over 7 years and had worked with small businesses from around the globe.  They saw that all SMEs faced the same struggles: debtors paying late, no access to affordable credit reports, business owners not being on top of their numbers.​

With their track record in SME financing the team at Avrium built partnerships with credit rating agencies, debt collectors and alternative finance providers and sought to build a SaaS tool that would allow business owners to use data from their accounting systems to manage their cash flow and credit risk.  ​

Problem​

After performing some initial market validation with positive feedback, the team wanted to create an MVP that could be taken to market that could be put in front of SME owners and their advisors: accountants, business advisors etc.​

​They wanted a tool that was easy to use and could connect to accounting systems such as Xero of QuickBooks and that would give users an immediate view of the numbers that were important to manage cashflow.​

​Solution

The team at Atom has extensive experience in all three areas of alternative finance, debt collection and credit risk analysis and so understood the challenges Avrium was trying to solve.  ​

Using their network of branding experts, designers and UI/UX consultants, Atom was able to bring together a team to create a stunning platform that was intuitive and easy to use, that automatically pulled in data from multiple different systems, allowing business owners to get a full overview of their cash flow and credit risks.​

It took the teams at Avrium and Atom 6 months to take an idea from validation to market and in doing so allowed the team at Avrium to reach out to SME business owners and accounting partners quickly to test how the product was received.  With the product in hand, Avrium was accepted onto the RBS Accelerator programme, the Scottish Enterprise High Growth Accelerator as well as presenting at events such as EIE and FinTech Connect.​

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