In this blog, we’ll take a closer look at how we helped a client streamline their processes and reduce costs. We offer creative solutions to complicated problems and utilise our expertise to find an outcome that suits our customers.
We offer B2B marketplace products that support companies of all sizes, helping them to work digitally, efficiently and with total trust. In addition to our innovative food industry product, we can also create bespoke solutions that focus on our clients’ challenges.
- Who Did We Help?
- The Challenges
- The Solution
- The Results
Who Did We Help?
This use case concerns CashbackAPP who operate a cashback and reward scheme across 11 different countries. From Europe to South Africa, CashbackAPP allows users to earn rewards and spend points at their favourite retailers.
They came to us because their existing processes were overly complicated, which prevented them from engaging with their users in the best possible. The system was a little difficult to use and resulted in high operational costs because users would sometimes leave.
CashbackAPP was acting as the intermediary between users and retailers, and as such the team was dealing with the consequences of having complicated processes. They were acting as the intermediary between users and retailers. The idea would be that users would register on the app to see rewards available to them. Then, CashbackAPP would get in touch with retailers to negotiate possible discounts and fees.
However, as money moved between retailers, CashbackAPP and users, there were high fees to deal with. In addition to these high fees, CashbackAPP was losing revenue as users left the platform. This was because of the very high threshold of points that had to be reached before users could see their money and cash out.
Retailers would sometimes miss payments too. Users had no idea what the problem was due to the lack of transparency, and this would again cause many of them to delete the app and take their business elsewhere.
CashbackAPP needed to improve user retention, make the app more accessible for users and cut down on the high fees that were causing problems. They needed a new system entirely.
Artos Systems spent time understanding the specific challenges that CashbackAPP were facing so we could create the right solution. Our expertise in blockchain, automation, and other deep technologies made us the perfect people to help.
At the time, CashbackAPP relied on a traditional banking system that lacked visibility and led to high fees. They acted as an intermediary (which meant facing fees on both sides) but lacked visibility across the whole process. This left them with all of the responsibility but without any actual control.
We decided it was important to remove them from the middle of this process and instead create a solution that would allow users and merchants to interact directly. We replaced the traditional banking system they were using with an improved blockchain-based alternative.
By replacing actual money with tokenised alternatives, users could spend at a retailer and immediately see the points they’d earned. They could then head to another retailer operating on the same network and redeem those points. Instead of waiting around for money, users could spend flexibly and see exactly what was in their account.
Instead of using slow processes that involved paper invoices, we utilised smart contracts to keep things moving quickly and efficiently. This simplified process was a success with users who could spend points as they earned them and with CashbackAPP themselves, who no longer had to deal with high fees.
The system we created and implemented was a resounding success. After only a few months of use, CashbackAPP reported they’d increased net margins by 25%. Users were no longer leaving the app and CashbackAPP no longer saw a drop in revenue as a result.
The Trade technology we provided transformed insecure paper-based agreements with retailers into more effective smart contracts. This prevented merchant default and increased cash flow for our clients.
The new system allowed for users to spend their rewards faster, reducing churn by over 10x. By removing themselves as the intermediary and leveraging blockchain for cross-border payments, CashbackAPP no longer had to deal with high operational costs.
“Artos Systems solved three of CashbackAPP’s greatest challenges at once. Their fantastic solution has made life better for every stakeholder in our ecosystem, including users and merchants. Not to mention it’s led to an immediate 25% increase in net margins. Artos helped make our business more efficient, innovative and opened up new opportunities for growth." — Bish Smeir, CEO CashbackAPP
As well as the Artos Systems B2B marketplace and trade platforms, our experience with blockchain and business optimisation in general enables us to solve various issues for our clientsIn the case of CashbackAPP, we harnessed our expertise to find a solution that would benefit all parties.
Whatever your issue, we work to simplify processes and save you time and money.
For other examples of the work we’ve carried out, head over to the Use Cases page, which details how Artos has made a huge difference.
Get in Touch Today
If you have any questions regarding this use case or you’d like to discuss a similar challenge faced by your organisation, don’t hesitate to get in touch with our experts today. We’re on hand to deliver creative solutions.