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Development of a Comprehensive Online Auction and Direct Sales Platform
  1. case
  2. Development of a Comprehensive Online Auction and Direct Sales Platform

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Development of a Comprehensive Online Auction and Direct Sales Platform

cogniteq.com
Financial services
eCommerce
Business services

Challenges

The client faced the challenge of creating a robust and scalable online platform capable of supporting multiple sales models (direct sales, auctions, exchanges), user subscriptions with varying permissions, secure payment processing, and effective communication features. The platform needed to facilitate a seamless buying and selling experience while ensuring compliance with Swiss regulations.

About the Client

A Swiss-based FinTech company seeking to expand its service offerings by providing a platform for online auctions and direct sales, targeting a broad user base with various subscription tiers.

Objectives

  • Develop and launch a fully functional online auction and direct sales platform.
  • Provide a flexible subscription model to cater to diverse user needs.
  • Enable secure and efficient online transactions.
  • Facilitate user interaction through chat functionalities.
  • Ensure platform scalability to accommodate future growth.
  • Achieve a stable and reliable platform with high user satisfaction.

Functional Requirements

  • Subscription management (different tiers with varying rights)
  • Direct sales functionality (fixed price, chat-based negotiation, sale duration)
  • Auction functionality (bid-based, time-limited auctions)
  • Exchange functionality (peer-to-peer item exchange)
  • User profile management
  • Item listing and management
  • Search and filtering capabilities
  • Secure payment gateway integration
  • Automated email notifications
  • Reporting and analytics for administrators
  • Content management system (for news and announcements)

Preferred Technologies

PHP
Yii 2
HTML/CSS
jQuery
Apache HTTP Server
MySQL
Google Maps API
Payone SDK
Twilio

Integrations Required

  • Payment gateway integration (Credit card, PayPal, PostFinance)
  • Email service provider (for automated emails)
  • Potentially external CRM or marketing automation tools

Non-Functional Requirements

  • Scalability to handle a growing user base and transaction volume
  • High availability and reliability
  • Security to protect user data and financial transactions
  • Performance optimization for fast loading times
  • User-friendly interface with responsive design
  • Compliance with Swiss data privacy regulations

Expected Business Impact

The platform is expected to generate stable income through subscription fees and transaction charges, expand the client's market reach, and enhance customer engagement. Positive user feedback indicates high satisfaction and a successful market entry. Scalability will enable further growth and expansion of services.

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